x Businesses and goods owners are making customs declarations and need to know what are the current popular payment methods on customs declarations?
x You don't know the relevant regulations for each payment method on the customs declaration?
x Are you worried about what will happen if the payment method is wrong on the customs declaration? Is it complicated to adjust or repair, etc.?
At Proship.vn, we will update details of payment methods on popular customs declarations that any individual, business, or shipper needs to know. At the same time, here you also know how to handle the case of the wrong payment method on the declaration so you can be more careful while declaring.
Payment methods on Customs declarations according to Circular 39
Below, Proship will list the payment methods on the customs declaration according to Circular 39:
BIENMAU – Bien Mau
Is a payment activity in the cross-border purchase, sale and exchange of goods and services between traders of the two countries according to the provisions of the Agreement on purchase, sale and exchange of goods in border areas between the Governments of the two countries.
CAD – Give payment documents immediately
CAD is a payment method in which the importer requests a bank to open an account to pay for the goods to the exporter when the exporter has delivered the goods and presented all documents.
DA – Accept payment upon receipt of documents
This method applies when purchasing and paying later. The bank will only give the shipping documents to the buyer to carry out procedures to receive the goods when this person signs to accept payment on the bill of exchange drawn by the seller.
CASH – Cash
A payment method in which the importer uses cash to pay the exporter. This method is only used in cases of cross-border trading.
CANTRU – Compensate, compensate
Debt clearing is between two units trading with each other and providing goods to each other, then the subjects who are both the seller and the buyer will make a debt clearing record to offset each other.
LATEST UPDATE PICTURES OF CONTAINER PROSHIP LOGISTICS TRACTOR
CHEQUE – Czech
It is a means of payment used in countries with highly developed banking systems. CHECKS are used in domestic and international payments for goods, services as well as other non-commercial payments.
DP – Collection with documents
This payment method is used when purchasing goods with immediate payment, the bank will give a set of documents to the buyer to complete customs clearance procedures for the shipment, after this person has paid the entire price for the goods.
GV – Capital contribution
Payment method criteria on the declaration are: “GV”: Capital contribution.
* For example: Company A (Vietnam) with 100% foreign investment imports used spare parts, machinery and equipment from the Investor in Korea to create fixed assets in the form of a parent company. contribute investment capital. Company A will not pay the value of these imported spare parts, machinery and equipment.
HDH – Barter
It is a payment method in which importers and exporters will use goods to exchange with each other. Goods are the main means of payment, not money.
* For example: According to the contractual agreement between the two parties, Company A - Vietnam imports machinery for production from Company B - China, Company B does not require payment for the above machine purchase amount. Instead, company A will have to export and return to company B the products produced by A with the export value equivalent to the value of the imported machinery.
HPH – Bill of exchange
A bill of exchange is an unconditional order to pay money drawn by one person to another person, requiring that person: Either upon sight of the bill of exchange, or at a specific date in the future; or at a particular date it may be determined to pay a certain amount of money to a certain person, either to the order of one person to another or to the bearer.
KHONGTT – No payment
Used in non-commercial declarations or temporary import and re-export declarations related to warranty repairs without having to pay repair fees, etc.
LC – Letter of Credit
Letter of Credit (L/C) is issued by the bank at the request of the importer, committing to the seller to pay a certain amount of money within a certain period of time.
LDDT – Investment joint venture
A form of capital contribution by Vietnamese investors under a joint venture contract.
OA – Open a payment account
Open Account is a payment method where the Exporter will open a debit account for the goods and services they provide to the importer. The importer periodically pays the amount arising on the account by money transfer or check.
TTR – Telegraphic Refund Transfer
This method applies to L/C payment. If the L/C allows TTR, the exporter will receive payment immediately when presenting a valid set of documents to the notifying bank. The notified bank will send a request for money to the L/C issuing bank and this amount will be refunded within 3 days.
KC – Other
The KC payment method on the customs declaration refers to other payment methods, including TT.
In case of wrong payment method, how to handle?
If the payment method is incorrect on the customs declaration, businesses and individuals will:
Correct the declaration after customs clearance
After the customs authority checks the documents and the actual goods, the custodian makes additional declarations. At the same time, they will be handled according to the law on administrative violations.
If customs declaration errors are discovered more than 60 days later, additional declarations will be required and will be handled according to tax laws and administrative violations.
Correct the declaration before customs clearance or release of goods
Correcting the declaration before customs clearance occurs when customs officers discover errors and supplement documents before the customs authority checks the customs documents.
After customs checks the documents and goods information, if the Customs officer discovers an error, he or she must supplement the declaration information. At the same time, they must also be handled according to tax laws and administrative violations. To supplement information, the declarant will take the declaration form on ECUS to declare information on the System. In addition, additional documents related to additional declaration will be submitted via the system or on paper.
During the process of checking documents and actual goods, if HQ detects that the declaration and customs records do not match, the custodian must supplement the information within 5 days. If the deadline is exceeded, administrative violations will be handled.
We at Proship Logistics have compiled payment methods on customs declarations according to Circular 39 for shippers, businesses, private individuals, and organizations to clearly understand and understand the regulations and how to apply each method. If you have any questions, immediately contact 0909 344 247 for answers and to provide cheap Multi-modal transport services (when needed).
