Trang 1 SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESSMID-TERM ASSIGNMENT REPORTIMPORT CUSTOMS PROCEDURES IN VIETNAM AND ANALYSIS OF IMPORT DOCUMENTS OF MEKONG SAUCE PROCESSING CO LTD G
FOREIGN TRADE UNIVERSITY SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESS MID-TERM ASSIGNMENT REPORT IMPORT CUSTOMS PROCEDURES IN VIETNAM AND ANALYSIS OF IMPORT DOCUMENTS OF MEKONG SAUCE PROCESSING CO LTD Group number: 01 Leader Phone Number xxxxxxxxxx Student full name Student ID Group leader: xxxxxxxxxx xxxxxxxxxx Group member: xxxxxxxxxx xxxxxxxxxx Group member: xxxxxxxxxx xxxxxxxxxx Group member: xxxxxxxxxx xxxxxxxxxx Class: TMAE302(HKI -2324)2.1 Lecturer: MBA TRAN BICH NGOC Hanoi, 2023 Contribution report # Full name Student Job Task code assigned completion Signature Other notation level Chap1 Chap2… Total 100% List of bonus point Group bonus point: Collect of real contract and document: year1 –total number of contracts; year2 –total number of contracts Group presentation Yes No PPT file upload: Yes No Video upload Yes No Individual bonus point (Name, student code and topic) TABLE OF CONTENTS ABSTRACT INTRODUCTION MAIN CONTENT I Import Customs Procedures in Vietnam Overview of the procedure Procedures for import of goods 10 2.1 Step 1: Prepare a set of freight documents 10 2.2 Step 2: Prepare digital signature to register to the General Department of Customs 11 2.3 Step 3: Install VNACCS customs declaration software .12 2.4 Step 4: Sign up for specialized testing (if any) 12 2.5 Step 5: Declare and transmit customs declarations 13 2.6 Step 6: Get the delivery order 14 2.7.Step 7: Prepare a set of customs documents 15 2.8 Step 8: Follow the procedures at Customs Sub-department 17 II Set of documents for Import Procedures 18 Required documents for import procedure 18 1.1 Sales contract 18 1.2 Commercial invoice 20 1.3 Packing list 21 1.4 Bill of Lading 22 1.5 Customs Declaration 23 Other documents in importing contract 25 2.1 Letter of Credit (L/C) .25 2.2 Insurance certificate (IC) 28 2.3 Certificate of Origin .29 2.4 Certificate of Quality 32 2.5 Certificate of Fumigation 32 III Analysis of Import Documents of MEKONG SAUCE PROCESSING CO LTD 33 IV Issues on importing customs clearance 59 Period of time for settlement 59 Notes on receiving goods: 60 Inspection of imported goods: 62 Complaints about the process and set of import documents: 63 V Common difficulties and solutions in import clearance process in Vietnam 63 CONCLUSION 65 REFERENCES 66 TABLE OF FIGURES Figure 1: 8-step Import Customs Procedures 10 Figure 2: Sales contract 34 Figure 3: Sales contract 35 Figure 4: Commercial Invoice 37 Figure 5: Commercial invoice 38 Figure 6: Packing list 40 Figure 7: Bill of Lading .42 Figure 8: Customs Declaration 44 Figure 9: Customs Declaration 45 Figure 10: Customs Declaration .46 Figure 11: Customs Declaration .47 Figure 12: Customs Declaration .48 Figure 13: Customs Declaration .49 Figure 14: Certificate of Origin 50 Figure 15: Certificate of Analysis 52 Figure 16: Certificate of Analysis 53 Figure 17: Certificate of Analysis 54 Figure 18: Certificate of Analysis 55 Figure 19: Arrival Notice 57 Figure 20: Arrival Notice 58 Document continues below Discover more from:dịch TMQT Giao TMA302 Trường Đại học… 818 documents Go to course 64 Phân tích hợp đồng giao dịch thương m… Giao dịch TMQT 100% (10) Đề thi cuối kỳ giao dịch thương mại… Giao dịch TMQT 100% (10) Incoterms-2020 127 tiếng việt Giao dịch TMQT 100% (9) VỞ GHI GIAO DỊCH 69 Giao dịch TMQT 100% (5) tiểu luận GDTMQT 91 Giao dịch TMQT 100% (5) BÀI TẬP PHẦN XÁC 12 LIST OF ABBRIVIATIONS ASEAN B/L CA CEPT CFS CIC CIF CIP C/O C/Q DO EBS FOB IC ICC ISO L/C UCP VAT VCCI SUẤT – AAA Class… Giao dịch TMQT 100% (4) Association of Southeast Asian Nations Bill of Lading Certificate of Analysis Common Effective Preferential Tariff Container Freight Station Container Imbalance Charge Cost, Insurance and Freight Carriage and Insurance Paid to Certificate of Origin Certificate of Quantity Delivery Order Emergency Bunker Surcharge Free On Board Insurance Certificate International Chamber of Commerce International Organization for Standardization Letter of Credit Uniform Customs and Practice for Documentary Credits Value Added Tax Vietnam Chamber of Commerce and Industry INTRODUCTION Along with the socio-economic development, import-export and international trade transactions are being increasingly improved, promoted and massively contribute to trade, external economic development, especially in maintaining the stability of the domestic market, creating favorable conditions for national economy to develop Therefore, the role of customs procedures proves to be increasingly crucial Chapter I IMPORT CUSTOMS PROCEDURES IN VIETNAM Overview of the procedure a) The concept of import and export activities According to Foreign Trade Mangement, import is… b) Imports of goods include all of the following characteristics: Goods moving across customs boundaries of countries Agents of the import activity are traders having trade offices in different countries or different customs areas on the same territory The currency used in transactions is the foreign currency to at least one of the parties International law sources are reference to at least one of the parties Procedures for import of goods Figure 1: 8-step Import Customs Procedures 10 2.1 Step 1: Prepare a set of freight documents 2.2 Step 2: Prepare digital signature to register to the General Department of Customs 2.3 Step 3: Install VNACCS customs declaration software 2.4 Step 4: Sign up for specialized testing (if any) 2.5 Step 5: Declare and transmit customs declarations 2.6 Step 6: Get the delivery order 2.7.Step 7: Prepare a set of customs documents 2.8 Step 8: Follow the procedures at Customs Sub-department 11 CHAPTER II SET OF DOCUMENTS FOR IMPORT PROCEDURES Required documents for import procedure 1.1 Sales contract a) Definition: b) Characteristics: 1.2 Commercial invoice a) Definition: b) Characteristics: 1.3 Packing list a) Definition b) Characteristics 1.4 Bill of Lading a) Definition b) Characteristics 12 Bill of lading has three main roles: The functions of bill of lading: Bill of lading includes the following contents: 1.5 Customs Declaration a) Definition b) Customs procedures for imported goods Opening Customs Declaration Process of declaration circulation Other documents in importing contract 2.1 Letter of Credit (L/C) a) Definition b) L/C classification Based on revocability Based on L/C feature Based on payment term of L/C 13 c) Letter of Credit and Foreign Trade contract L/C was After the L/C has been issued, if the exporter agrees and accepts its contents d) L/C adjusting law: UCP 500/600 – Uniform custom and practise for documentary credit Currently, UCP 600 is most often used (ICC established) e) Capital sources to ensure L/C payment When f) Opening L/C requests: Customers fill out the L/C opening request form All the above documents must produce the original and keep the photocopy with the seal of enterprise Particularly for the following documents, the original must be saved: g) Content of Letter of Credit: Other content h) L/C Check When we receive the letter of credit, we must carefully examine the 2.2 Insurance certificate (IC) 2.3 Certificate of Origin 2.4 Certificate of Quality 2.5 Certificate of Fumigation 14 15 CHAPTER III ANALYSIS OF IMPORT DOCUMENTS OF MEKONG SAUCE PROCESSING CO LTD In order to make it clear about the import procedures and processes as well as the set of documents required when a Vietnam company imports goods from a foreign one, our group decide to take MEKONG SAUCE PROCESSING CO LTD and GIVAUDAN SINGAPORE PTE LTD as a typical example in order to interpret the way these documents are processed and passed among relevant parties and authorities The good of trading in this example is Fish Sauce Flavour AO-365-993-7 As our group’s research, the set of documents has items: - Contract - Commercial Invoice - Packing list - Bill of Lading - Customs Declaration - Certificate of Origin - Certificate of Analysis - Arrival Notice Following are the documents and its flow analysis: Figure 2: Commercial Invoice Figure 3: Commercial invoice Packing list 16 Figure 4: Packing list Bill of Lading (B/L) Figure 5: Bill of Lading Customs Declaration Figure 6: Customs Declaration Figure 7: Customs Declaration Figure 8: Customs Declaration Figure 9: Customs Declaration Figure 10: Customs Declaration Figure 11: Customs Declaration Certificate of Origin (C/O) Figure 12: Certificate of Origin Certificate of Analysis (CA) 17 Figure 13: Certificate of Analysis Figure 14: Certificate of Analysis Figure 15: Certificate of Analysis Figure 16: Certificate of Analysis Arrival notice Figure 17: Arrival Notice Figure 18: Arrival Notice 18 CHAPTER IV ISSUES ON IMPORTING CUSTOMS CLEARANCE Period of time for settlement Notes on receiving goods: Case 1: For warehousing at the port: Case 2: For goods not stored in warehouse; storage in case of importing large quantities of goods by train: Case 3: For importing goods from containers: Case 4: For retail items: Inspection of imported goods: Complaints about the process and set of import documents: V Common difficulties and solutions in import clearance process in Vietnam Specific example: Difficulties: In Article 18, Circular 39/2018/TT-BTC stipulates => Solution: At the time of customs clearance, … 19