| [1] Definition |
- Transaction method of a exporter located in a foreign country to sell goods to local importers that are stored in a fixed local bonded warehouse under his/her reasonability.
- Such transaction method is usually used for importing raw materials for export, import opening exemplification items. If import raw materials per items and process manufacturing to export, it will take up much time when export intended country is far so the transaction is to drive raw materials supply at the right time.
- What is different from general import method is that, there is no prior contract between a exporter and importer but under the responsibility of a exporter, the goods are carried in to a bonded warehouse and the transaction is in process while there is no importer is nominated unless a sales contract is materialized. |
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[2] Procedures |
| (1) Carry in goods to local bonded warehouse |
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| - Bonded Shed is a bonded areas to store goods temporary to clear the goods and a bonded warehouse is a bonded areas to reserve the goods for long term. |
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(2) Import contract conclusion
(3) Import recommendation (For recommending system is required)
(4) Import license request
(5) Open import L/C
(6) Payment
(7) customs clearance
(8) Return goods that are not sold within bonded areas. |
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| - Goods that are not sold within domestic bonded areas are subjected for return requisite and they are possible to return according to the return clearance procedure. |
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[3] Comparing with general import procedures |
| - Other than the transactions begins as the goods are taken into a bonded warehouse in the country the BWT import method is same as general import procedures. |
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[4] For L/C payment method |
- Documents presenting period for transaction using BWT method may exceed 21 days.
Therefore, it is necessary to specifically indicate "stable document(B/L) acceptable" wording in the L/C or indicate "present documents within ~ days from shipping". |
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[5] Benefits of BWT import |
- Importing is possible after confirming the actual goods
- Reduce importer's overhead
- Reduce delivery |
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Trade Helper 
Ex-Import Procedure(to Way of Payment)
Export/Import procedure according to the BWT(Bonded Warehouse Transaction) method
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