Choosing a forwarding company is important in any business, especially those involving import-export processes. Keep in mind that the Bureau of Customs in the Philippines are very particular when it comes to their policies. Make sure you are dealing with a licensed forwarding company in the Philippines.
To avoid disputes and other problems, here are some things to consider:
Complete the Requirements
Your customs broker usually manages all the legal procedures and paperwork when importing or exporting certain products. Get the list of regulated and prohibited items from the Department of Trade and Industry (DTI) to avoid penalties.
Keep in mind that the Bureau of Customs will evaluate all commodities. Some of the documents you need to obtain when shipping products include the following:
– Commercial invoice or Pro Forma Invoice
– Bill of lading (sea freight) or airway bill (air freight)
– Certificate of origin (upon request)
– Packing list
– Applicable certificates
– Commercial invoice of Returned Philippine Goods
– Supplemental Declaration on Valuation
Take Note of the Fees
The Bureau of Customs follows the United Nations International Classification. Tariffs can go up to 65% depending on the type of commodities you’re importing or exporting. For non-agricultural goods, it can go around 7%. In addition, the Value Added Tax for imported goods is also applicable, which can range up to 12%.
Secure the Items
Another thing you should consider is the security of your items. Coordinate with your broker regarding the status of the shipment to avoid delays. Provide detailed instructions or description of your goods to prevent damage. Ask if they can provide insurance in case something happens to your items.
These are just some of the important considerations when dealing with customs brokers. Always check their credentials and verify the information they provide from the local government before closing any deal.