High seas purchase

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2012 Say party A Imported Goods, Now Party A Made High Seas Sale to Party B.
Now on BoE, Whether Party A Name Will Be There or Party B Name Will be There.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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08 October 2012 For further information read link:

https://www.caclubindia.com/share_files/high-sea-sale-36661.asp#.UHJwU64-1tg

Regards,

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2012
Give some Brief Answer if Possible..

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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08 October 2012 as above said link ....

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2012 Clicking on That Link is Not Working..
Can You send me on ara88@itimes.com

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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08 October 2012 it is working please check in internet explorer instead of MOZILA FIREFOX...

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2012 Here Not Working.
Can You Give One Liner Answer, Like Party Name a or B will be There provided............

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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08 October 2012 IT IS WORKING IN INTERNET EXPLORER ANY WAY

Noted that:
************

Clearance procedure in case of high sea sales is the same as in case of general purpose

clearance but the following points must be considered: -

(1) Only one party’s name should appear in the bill of entry filed by canalizing agency or

export houses or trading houses. No bill of entry can be filed on account of another

party, Madras CPN No.72/89 dated 21.4.89.

(2) The bill of entry will be noted in the name of high sea buyer on production of high sea

sale contract. Original copy of bill of lading endorsed in favour of buyer should also be

given.

(3) High sea sale contract must be a legally enforceable contract.

(4) All declarations, undertaking, bonds etc. are to be given by the high sea buyer.

(5) Original importer is also required to fulfill conditions relating to importation.

(6) A high sea buyer is also required to file a declaration of value under Rule 10A of

Customs Valuation Rules 1980. He can obtain necessary data from seller for the

said declaration. (Mumbai CPN No.33/99 dated 4.3.99).

(7) High Sea sales are possible even in respect of goods transported by air. In case of

high sea sale of carriage by air, air way bill is a recognised document for carriage

of goods by air. Even though airway bill carries the words “NOT NEGOTIABLE” it

does not restrict the seller from exercising his right to dispose of the goods to a third

party.

A high sea seller must instruct his foreign supplier to direct the air carrier in writing to

deliver the cargo to high sea buyer.

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