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Discuss Clearing and Forwarding (C & F) Agent within the Export - Import Procedures forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; adfadsfa adsf aadsfa fas fa fads fasdfadf a fa dfa f Advertisements...
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Re: Clearing and Forwarding (C & F) Agent -
January 16th, 2011
Clearing and Forwarding (C & F) Agent Dr. A.K. Sengupta (Former Dean, IIFT) • Clearing and Forwarding agents are essential link in international trade. • C & F agent plays a vital role in fulfilling the various delivery commitments made by the exporter to the importer abroad. • C & F agent facilitate the smooth and trouble free passage of cargo from the point of manufacture to the destination. Activities of a C& F Agent 1. C & F agent works closely with the exporter right from the receipt of offer stage. He provides freight rates to various destinations and also informs the exporter about the most economical modes of transportation. He also advises the most cost effective routing advice for the destination. 2. Once the order is received by the exporter, C & F agent makes the ship booking keeping in mind the last date of shipment on the letter of credit. 3. As the dispatch dead line approaches, C & F agent estimates the transit time between the factory and the port of shipment as mentioned in the L/C. Accordingly he advises the exporter about the dispatch date from the factory, so that the cargo reaches the port right time. If the cargo reaches too early, it attracts demurrage charges. On the other hand, if the cargo reaches late, it may miss the ship, thereby causing the delay Such delays are inconvenient and expensive to both the importer as well as the exporter. 4. Once the goods are dispatched from the factory, the C & F agent intimates the shipping line regarding the expected arrival schedule of the goods at the port, along with the mode of inland transportation. He also completes the octroi formalities (wherever necessary) so that the export good are not subjected to octroi duty. 5. The C&F agent takes delivery of the consignment from the road transport company or the railway station. The cargo is stored in C&F agent warehouse till shipment. Soon after receiving the cargo, the C&F agent initiates action to obtain customs clearance and seek permission of port authorities for bringing the cargo to the shipment shed. 6. C & F agent then applies for and secures port permit so that the goods can enter the port premises. At the same time, the C & F agent helps the exporter in preparing the export declaration form that the value specification quantity and description of goods mentionedin the shipping bill are in according with the export contract and the statement made in the shipping bill is true. 7. After this, the C & F agent prepares bill of lading in compliance with the terms and conditions of the sale/ letter of credit. 8. After this, the bill of lading is submitted to the shipping company and the cargo is loading on board the vessel. The shipping company representative examines the cargo for its condition and signs the bill of lading accordingly. In case of CFR and CIF contracts the ocean freight is also paid, at this stage and the “Freight Prepaid” seal is obtained on the bill of lading. C&F agent then collects all the documents such as bill of lading, customs certified invoice, consular invoice, certificate of origin etc from the respective authorities and sends them to the exporter for further negotiation | |
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Re: Clearing and Forwarding (C & F) Agent -
June 10th, 2015
Well explained and had the perfect blend of elaboration. Clearing and Forwarding (C & F) Agent, is important but what role do they play is what makes them important so, here is the link which deal their role and please do refer otherwise, it will be hard and it will take strenuous effort to understand it. Project on role of clearing and forwarding agents | |
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