With the expansion of global trade, the number of importing companies is increasing day by day. However, import processes require the correct management of many details. Even a small mistake can lead to serious costs. In this article, we have compiled 7 critical points to be considered in import processes.
1. Product and Market Research
The product to be imported;
- Quality,
- Level of demand,
- Factors such as competitor analyses should be investigated in advance. In addition, the trade rules and economic situation of the country where the supplier is located should also be evaluated.
2. Knowledge of Customs Legislation
Each country has different rules regarding imports. Specific to Turkey;
- Correct determination of the GTIP (Customs Tariff Statistics Position) code,
- Complete preparation of import permits and documents,
- Quota, surveillance and audit practices need to be considered.
3. Correct Logistics Planning
Transport method (sea, air, road etc.) and transport time;
- Costs,
- Product quality,
- It directly affects the supply chain process. In addition, experience and reliability are of great importance in choosing a logistics company.
4. Insurance Transactions
It is vital to insure the products against damage, loss or delays that may occur during transport.
- The meaning of terms such as CIF (Cost, Insurance and Freight) should be well known,
- These details must be clearly stated in the import contract.
5. Payment and Contract Terms
Payment methods in international trade (letter of credit, cash against documents, cash in advance, etc.) should be determined in a way to minimise risks.
- The delivery time, product quality and price must be clear in the contract with the supplier,
- It should contain legally protective clauses.
6. Taxation and Cost Analysis
During import;
- Customs duties,
- Items such as VAT and other duties should be calculated in detail. The total cost should be evaluated not only with the product price but also with transport, customs clearance and other ancillary costs.
7. Securing the Process with Professional Consultancy
Import processes can be complex. Work with a specialised consultancy firm;
- Saves time,
- Reduces risks,
- Guarantees that the process proceeds in accordance with the law.
