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Export risks related to custom and documentation

• Custom and documentation related export risks

If you are exporting or importing, then you need to deal with customs and export documentation and procedures.

If you don’t have the needed documents neccesary for your country custom, then you may be prohibited to export the goods out from your country.

Same with importing, if you will get the goods from your supplier, but an example, the supplier won’t send you the specific document, then the custom may won’t let you clear the custom.

Also, some products are prohibited or restricted to export out from your country. Example India restricts and prohibits the export of the energy-related products because India has increased energy demand.

Also, some products may be restricted for import into your country.

All these restrictions and problems with documents can mean serious cost for exporters and importers, so they are export risks.

Hedging the custom and documentation related export risk
For exporters and importers, before you are signing contracts and closing the deals, you need to make sure all the documents required together with your products.

Secondly, you need to know are there any restrictions or limitations related to your products or with the countries what you are dealing with.

As a fresh or less experienced exporter or importer, you should use the help of customs brokers and freight forwarders. They will tell you all what you need to know related to your products.