In the world of accelerating global trade volumes, the right technology can give your business an edge over the competition. The CALISTA intelligent advisory for trade compliance is an end-to-end solution that simplifies global trade management. From HS code classification to import/export declarations to trade regulations, our AI-powered solution has everything you need to trade with confidence.

 

Access to trade advisory in 180+ countries

 

Businesses engaged in import and export have multiple responsibilities. One of the most important is keeping up with the constantly changing regulatory environment in different countries. A strategic plan is key to managing global trade, including simplifying trade declarations, optimizing customs compliance, and identifying areas where you can save money.

 

Those with limited in-house capabilities like SMEs will find it challenging to manage their supply chains without the right technology and advisory partner. For example, businesses wanting to enter the Asian market for the first time must work with local brokers or similar providers to understand how things are done, from filing customs paperwork to choosing the best transport providers for final mile delivery.

 

Besides domain expertise, the right technology streamlines global trade. For global businesses, it can be difficult to sort out import/export documentation requirements for each country and comply with regulations while getting products to customers as quickly as possible. The right technology minimizes documentation errors and risk of delays so you can save money and increase profits.

 

Many customs and government agencies use Electronic Data Interchange (EDI) to process trade declarations. EDI is a method of information exchange that connects one system directly to another. Because EDI is expensive to build from the ground up, many businesses rely on IT service providers that offer flexible costs and plans.

 

The CALISTA intelligent advisory provides expert trade advisory in over 180 countries, plus a host of other services to allow businesses to trade with confidence.

 

What is landed cost?

 

The landed cost is the total cost of getting a shipment to its final destination. The landed cost often refers to shipping, duties, taxes and fees, but the total depends on a variety of factors. Besides freight and duty, businesses must take into account the cost of brokerage, currency conversion, storage, packing, insurance, agent commissions, payment processing, fraud prevention, and customs/regulatory fees.

 

It’s important to plan for landed costs ahead of time to save money and avoid surprises. Shipping cost generally depends on the speed of transport and type of product. Overnight is going to be more expensive than ground shipping, and shipments that are not consolidated tend to be pricier.

 

In terms of customs paperwork, accurate product classification is a must not only to avoid penalties and delays, but also to save money. You need to check whether the shipment is covered by a de minimis rule and any free trade agreement (FTA) so you don’t pay duty and other fees when you don’t have to.

 

The primary customs form for international cargo, the commercial invoice, should also be complete and accurate. Make sure to include the consignee’s full address and contact information, detailed product description, shipment value and currency. Inaccurate information can mean delays, which would increase your landed cost.

 

The total landed cost also depends on where you are sending the product. Some countries may add insurance and freight fees. Tax policies also vary by country, so it’s important to check available tax breaks and sales tax rates in advance.

 

If you are having a hard time calculating accurate landed costs, consider CALISTA intelligent advisory’s landed cost calculator. It is normal to get the true landed cost after the shipment arrives. Our calculator gives you estimates that are very close to the actual costs.

 

How to find the recommended HS Codes for your product

 

The Harmonized System (HS) is a method of goods classification used by the international trading community. Customs agencies worldwide use this standardized numerical system to identify products, assess duties and taxes, and collect trade statistics. The HS is updated every five years and serves as the foundation for systems used in many countries.

 

The HS assigns a unique six-digit code to commodities, and countries add more digits for further classification like the 10-digit Harmonized Tariff System of the United States (HTSUS) or Schedule B number that is required on all import and export documentation. It is important to submit accurate and complete HS codes because customs agencies use them to determine applicable duty rates and preferential tariff under a free trade agreement. HS code classification is one of the more complicated parts of the import/export process. It is time-consuming and labor intensive especially if you are a self-filing importer of high-volume ecommerce parcels.

 

Certain products such as mixtures, composites and items sold in a set are also difficult to classify because you need to consider the origin of its different components, including the different countries of production, manufacture and assembly. Singapore imports and exports, for example, uses the 8-digit HS Codes in the ASEAN Harmonised Tariff Nomenclature (AHTN). This is based on the World Customs Organisation (WCO) 6-digit level HS Codes adopted by all ASEAN member countries. You can do a quick search for the HS Codes, descriptions and product codes using the HS/CA Product Code Search Engine. Users can also verify if a product is controlled by an authority. The “Import”, “Export” and “Transhipment” columns of the search results will show the Competent Authority controlling the product.

 

Many importers choose to work with licensed customs brokers and third-party providers to classify their shipments. Brokers are experts in products classification and keep up to date with the latest trade laws and regulations to make trade declaration as painless as possible for their clients.

 

Another option is using HS code classification software. Software and other technology can be expensive if you run a small or medium-sized business. CALISTA Intelligent Advisory features an AI-driven HS code lookup tool that recommends HS codes based on simple product descriptions that you enter.

 

CALISTA intelligent advisory - The One-Stop Trade Advisory Service

Enabling easy and smart search for trade compliance information of over 180 countries worldwide

Powered by Natural Language Processing (NLP) capabilities, the CALISTA intelligent advisory

analyses historical data to devise trading strategy to assist the global trade community.

 

 

Our services include:

 

HS Smart Search

Provides applicable HS codes by simply entering layman product description, country of origin and country of destination.

Compliance eAdvisory

Provides comprehensive trade compliance information based on the selected HS code.

Landed Cost Calculator

Calculates the landed cost and tax payable easily and fast when exporting

 

Kickstart Your Journey Now!

Sign up for a free trial

 

To learn more, visit our page on https://www.tradeadvisory.ai/CIA/ or contact us at [email protected]  to schedule a demo today!

 

 

 

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