original bill of lading vs telex release importing goods from china

[k_los]

Hi all i have a quick question, i am importing some good from china for the first time. We are due to pick up the goods (in person) from the a UK port. The exporter has said would we prefer:

"to pick up the goods with "Original bill of lading " or " telex release " when the ship arrive at the destination port"

Ill be honest i havnt got a clue which ones better (safer, easier etc) and what the processes are for each one.

Any one have any ideas!

thanks

 

[Wavecrest Ltd]

Hello - if the shipper (your supplier) in China arranges an express (telex) release it means you do not have to hand an original bill of lading to the shipping line's UK agent to get release of the goods.

If you have an express (telex) release, the shipper (your supplier) in China will not have to pay for a courier to send original documents to the UK and there is no chance of them going astray.

By the way, have you considered arrangements for the customs clearance and payment of duty/VAT when goods arrive in the UK?

You will also have to pay handling charges etc to the shipping line's UK agent before you can collect goods from the port (or have them delivered to you).

Please be warned, these charges are likely to be very high if you have asked your supplier in China to make the shipping arrangements on your behalf.

If I can be of help at all, please feel free to send me a PM.

Best regards,
Glen

 

[k_los]

Hi Glen thanks for your reply, so does the 'telex' get emailed to us or straight to the shipping lines uk agent. What documentation should we get? Is this a better option than original bill of landing?

Re customer clearance/duty/vat we had factored in around 20-25% of the price for the duty/vat but hadnt factored in the clearance, do you know what this may be?

cheers again

karl

 

[Wavecrest Ltd]

"Hi Glen thanks for your reply, so does the 'telex' get emailed to us or straight to the shipping lines uk agent. What documentation should we get? Is this a better option than original bill of landing?"

The telex release is sent to the shipping line's UK agent. This option is fine and used all the time in the shipping industry. The documents you need for the customs clearance will depend on the type of goods you are importing but generally speaking you will need a commercial invoice, packing list and copy of the express bill of lading.

"Re customer clearance/duty/vat we had factored in around 20-25% of the price for the duty/vat but hadnt factored in the clearance, do you know what this may be?"

The cost for duty will depend on what goods you are importing. VAT is charged at 20% calculated on the purchase cost of the goods plus shipping/marine insurance costs, the import duty and also an HM Customs allowance for UK landing charges (this will depend on the weight of the shipment).

The UK handling/docs charges will depend on the weight/volume of the shipment and the shipping line your supplier has used to move the goods from China.

Glen

 

[k_los]

Thanks loads for your help, we'll have to make sure we take plenty of money to the port!

 

[Wavecrest Ltd]

It doesn't work like that. It's not so simple. The goods will need to be customs cleared before you go to the port and all duty/VAT/shipping line charges etc paid.

Can you let me know what goods you are importing and an idea of the weight and quantity and I will send you a DM with an estimate of costs and some info about procedures.

Glen

 

[k_los]

Hi glen I sent you a PM explaining further our import details. If you get a mo i'd love to hear your advice.

Thanks

karl