2020-06-27 22:51
The HTS or Harmonized Tariff Nomenclature is updated by the World Customs Organization every 5 to 6 years. This is not a mandatory review time frame. The latest version of the harmonized tar… Read More
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Globalior is maintained by a panel of expert global trade compliance professionals. The collective knowledge of all contributors includes mastery in broad based trade compliance concepts in areas of tariff classification, Customs valuation, Free Trade Agreements, transfer pricing, vendor selection, vendor management, Customs audit readiness, Incoterms special Customs programs and industry specific knowledge in FMCG, medical devices, perishable commodities and technology. Globalior aims to be the primary resource for trade compliance professionals and non trade compliance professionals looking for practical guidance and knowledge in maintaining compliance in cross border activities.
2020-06-27 00:45
The lockdowns and restrictions on movements that followed the appearance of Covid-19 have sparked an interest in the work from home topic. Jobs that were previously thought to only be doable… Read More
2020-06-25 12:56
How is the Food and Drug Administration authority’s role defined?The FDA or equivalent authority in any country is usually responsible for establishing and enforcing policies relating… Read More
2020-06-24 14:45
In most countries, a Customs broker can be loosely defined as a person or entity that is authorized by the Customs authority to make import or export declarations on a trader’s behalf… Read More
2020-06-23 00:39
What is withholding tax?Withholding tax must be paid to government authorities by the payee of the income. This means that the entity disbursing the funds has to pay the tax directly to the… Read More
2020-06-21 01:17
What does importation into Singapore mean?Importation refers to the process of bringing goods; either from an FTZ (Free Trade Zone) or any other entry point into a Customs territory, or brin… Read More
2020-06-20 01:12
Customs Record Keeping RequirementsWhen it comes to record keeping requirements, the following can differ between country to country:Which records to keepHow long to keepIn what format to ke… Read More
2020-06-17 12:24
What is a commercial invoice?A commercial invoice, sometimes referred to as a CI, is a document prepared by a seller. This document is provided to the buyer. It describes several important p… Read More
2020-06-16 21:13
In this third part of our series of articles covering each of the 6 rules for HS Classification, we look at the third general interpretative rule. which is split up into 3 parts. This rule i… Read More
2020-06-15 10:10
Tariff engineering refers to the actions that traders sometimes take to reduce the Customs duties they pay on imports into any country.Tariff engineering can take many forms, such as :Breaki… Read More
2020-06-12 03:13
What is a Bill of Lading?A Bill of Lading can be categorized in many different ways, but in general an original B/L refers to a document issued by the carrier or shipping company that:Confir… Read More
2020-06-09 10:56
What is ISPS Security Code?ISPS stands for International Ship and Port facility Security code. This is an important part of maritime laws and regulations that safeguard the safety of ocean f… Read More
2020-06-09 08:47
HS codes are declared by both importers and exporters to Customs authorities during the Customs clearance process. In most countries, the import HS code and the export HS code are exactly th… Read More
2020-06-08 12:23
The rules of origin determine quotas, preferential tariff rates, and many similar cross border trade-related concerns. While it may be easy to understand what is meant by referring to the &l&hell…Read More
2020-06-06 16:25
Thailand’s HS tariff book is structured to hold an 11 digit HS code. This 11 digit HSN number must be declared to Thai Customs for all imports and exports. As a member of ASEAN, Thaila… Read More
2020-06-06 14:23
What does it mean to dropship (or drop ship)?When the dropship or drop ship model is used for retail, it means that the seller or the store does not keep physical inventory of the product, b… Read More
2020-05-31 01:24
This is part 2 in a series of posts explaining the use of World Customs Organization’s rules relating to HS classification. You can find the first article here: General Rules of Interp… Read More
2020-05-22 11:27
Customs authorities in most parts of the world require traders to classify their imports and exports according to the 6 rules of classification published by the World Customs Organization or… Read More
2020-05-20 03:46
Cargo InsuranceIn case a consignment is either lost or damaged, cargo insurance helps reimburse the concerned vendor or the customer.When is cargo insurance necessary?Moving cargo is risky… Read More
2020-05-16 03:49
Can AI run supply chains?Supply chains may be complicated systems, but modern machine learning techs and artificial intelligence have allowed us to consider the possibility of AI running sup… Read More
2020-05-15 04:40
What is ETA (Estimated Time of Arrival)?ETA refers to the date that a specific shipment is expected or projected to be brought to the destination location. The specific location can be the w… Read More
2020-05-14 08:33
What is Free Astray?Free Astray refers to a cargo shipment that has been wrongly shipped and/or unloaded to a destination that is then picked up and shipped to the correct end destination wi… Read More
2020-05-12 09:26
What does pro forma mean?Pro form is a Latin phrase. It translate to “as a matter or sake of form”, which is a method used to calculate financial outcomes using assumptions and e… Read More
2020-05-11 20:07
This articles deals with the export licensing controls for exports out of the United States. Other countries may have similar regulations that are administered in varying ways. It is often s… Read More
2020-05-09 10:59
Transportation of dangerous cargo by vessel is internationally regulated under the International Maritime Organization or IMO for short. IMO is an agency under the auspices of the United Nat… Read More
2020-05-08 15:27
EXW Incoterms 2020 : A Few Quick PointsEx Works (EXW) Incoterms can be used for all modes of transport and even when there are multiple modes of transport involved in transportation.Risk tra… Read More
2020-05-08 12:48
Figuring out how trucking spot rates change isn’t too tricky. If the number of trucks entering city A increases at a slower rate compared to the load volumes moving out of city A, then… Read More
2020-05-06 15:58
Shippers all over the world have to prepare invoices that are used for export Customs clearance and in most cases, these same invoices are used for import Customs clearance in destination co… Read More
2020-05-06 09:07
Bills of lading are transportation documents that carriers issue to shippers. These contain information regarding the shipment such as quantity, destination and type of cargo.A B/L can be a… Read More
2020-05-05 06:02
What is CIF & FOB?CIF refers to Cost Insurance and Freight while FOB refers to Free On Board. These are Incoterms® that define how risks, obligations and costs associated with cross… Read More
2020-05-04 13:21
Businesses involved in cross border trade may find themselves dealing with several different product classification systems, each with different purposes. It is important for traders to clas… Read More
2020-05-01 03:47
Most compliance managers in supply chain functions would readily agree that they hold ethical practices in high regard and likewise hold a firm moral high ground when making decisions in the… Read More
2020-04-28 12:46
In response to the Covid-19 pandemic, economists in the World Trade Organization (WTO) expect world trade numbers to slide further than they did during the 2008 financial crisis. Statistics… Read More
2020-04-26 02:37
Non Vessel Owning Common Carrier (NVOCC) refers to a transportation operator that does not own any ocean going vessel assets. The transport operator will take care of operations that include… Read More
2020-04-24 06:51
On the 21st of April 2020, the Royal Malaysian Customs released a circular that instructed traders to re-appoint their Forwarding Agents through the uCustoms portal. This is in line with the… Read More
2020-04-23 09:25
We look at the latest Southeast Asian country situations in the face of Covid-19 as of today, 22 April 2020.Covid-19 in ThailandThailand’s state of emergency is expected to be extended… Read More
2020-04-21 13:22
HS classification of chemicals is challenging because until most other commodities, it requires technical expertise in chemistry and knowledge of how to determine a HS code using the general… Read More
2020-04-18 09:44
As a result of supply chains growing in complexity over the years, many multi national corporations today actively manage performance through measurable Key Performance Indicators (KPIs). Le… Read More
2020-04-17 14:22
Multi-National Corporations around the world are revisiting financial projects for the rest of 2020. Consequently, many companies are now revisiting related party pricing agreements that hav… Read More
2020-04-16 13:58
The Restricted Movement Order that came into effect in Malaysia on March 18, 2020 has left producers and manufacturers in the country with many concerns. Some traders who run factories… Read More
2020-04-15 14:54
The Board of Investment (BOI) in Thailand continues to implement new measures to soften the blow for investors and to encourage investments to increase manufacturing of medical supplies.Here… Read More
2020-04-14 15:13
In light of the Covid-19 situation, many traders now find themselves attempting to import or export pharmaceuticals, medical support products and medical devices across borders. However, sin… Read More
2020-04-12 03:42
A clear consequence of Covid-19; Japanese administration is encouraging their firms to move production plants out of China and into Southeast Asia to end supply dependency on the nation.09 A… Read More
2020-04-11 06:04
On the 8th of April 2020, the BOC issued a memorandum elaborating the procedures to manually release import shipments. This comes after technical issues caused the E2M System’s to beco… Read More
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