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Basics // Importing

Mark Jackman

Posted on July 18 2020

Basics // Importing

Importing 101

Useful Acronyms 

  • PI (Proforma Invoice) - Sales contract or invoice sent from the supplier to the customer/importer for the manufacturing of goods. 

  • MOQ (Minimum Order Quantity) - The minimum number of goods that a supplier will supply in one order. 

  • EXW (Ex Works) - is the arrangement where the supplier will make the product and the customer must cover the transport costs to get it to the end destination. 

  • FOB (Free on Board) - is the agreement that states whether the customer or the supplier has liability for goods from a certain point. “FOB shipping point” implies that the customer will bear the risk if the goods are shipped while “FOB destination” implies that the supplier will bear the risk of any loss until the buyer gets the goods.

  • POD and POL - Port of Destination and Port of Loading.

  • CNY - Chinese Yuan, CNY is the official currency code of China's currency, the Renminbi.

  • RMB - Renminbi, is the official name of China's currency.
  • CQC  - China Quality Certification. China's largest professional certification body.
Labels - New Zealand has specific rules around the labelling of goods, this includes; Country of origin and care labels. More details here.

Duty and DST - According to the Customs website, neither GST or Duty will be charged on Import Entry Transaction Fee (IETF) on goods valued $1000 or less (with some exceptions). For exact costs check New Zealand's Duty Tax calculator out here.

Note: Anything valued over NZD$1,000 requires a client code which can be applied for on website link above. 

Product Safety Standards - This relates to pedal bicycles, baby walkers, children's nightwear, children's toys, household cots and cigarette lighters. Click here for details

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