Tips To Follow If You Are Importing From China

China has always been one of the biggest exporters to UK, with more than £2.94 billion worth of goods shipped by the PRC alone, as per track records up to February 2016. But if you are planning to buy anything in bulk from China for the first time ever, there are certain factors that you ought to consider. Here are some tips that would help you substantially in your endeavour:

Plot Your Objectives

First of all, be clear and straightforward about your requisites. Are you in search of an affordable supply source or do you wish to buy stuff that’s not been introduced in the UK market yet? Interrogate yourself and plot the objectives suitably. But make sure that they comply with your business strategy.

Locate A Supplier

When importing from China for the first time ever, finding a legit, reliable and creditworthy supplier should be one of your topmost priorities. Before investing in supplies, you also need to check product quality and make sure that they are suitable for purchase.

Get A Proper Contract

Having a clear-cut documented agreement with your supplier is essential, as it would help you to steer clear of risks related to delivery and payment. Make sure that only International Commercial Terms (Incoterms) are used so as to prevent misunderstandings. The contract must also include info about payment requirements, payment methods and type of currency used.

Declare Imports To The HMRC

It is mandatory for all kinds of imports made from China into the UK to be declared to Her Majesty’s Revenue & Customs (HMRC). You will have to do this with the SAD or Single Administrative Document (Form C88).

Understand Commodity Codes & UK Trade Tariff

Comprehending the commodity codes is important, since you will have to provide the right code for your imports when filling out the customs paperwork. Also, you must have a sound knowledge of the Integrated Tariff for understanding what duties you need to pay.

Choose A Freight Forwarder

Last but not the least, find a competent and trustworthy freight forwarding company that facilitates shipping from China. The import export agents of the company will handle a major part of the work for you. But make sure the firm you partner with has a proven track record of offering quality services.

So follow these tips and ensure the success of your first ever import from the People’s Republic of China.