Company A intends to import certain goods from China and sell the same to Indian customer at Shanghai Port(FOB ).is this a high sea sales transaction ? what are the documents required ? Should money e realised in foreign currency only ?
ajay (proprietor) (42 Points)
15 April 2011Company A intends to import certain goods from China and sell the same to Indian customer at Shanghai Port(FOB ).is this a high sea sales transaction ? what are the documents required ? Should money e realised in foreign currency only ?
sunny
(ASST MGR)
(333 Points)
Replied 29 April 2011
NO THIS IS NOT HIGH SEAS SALE.
HIGH SEAS SALE : PARTY 'A' IMPORT FROM OVERSEAS SAY PARTY 'C' AND PARTY 'A' ' SELL THE MATERIAL TO 'B' AT SAME COUNTRY THROUGH HIGH SEAS SALE . FOR HIGH SEAS SALE GOODS SHOULD BE ON TRANSIT WHEN THE HIGH SEAS SALE CONTRACT SIGNED BY THE PARTIES ' A' & ' B'
ALL CUSTOM CLEARANCE WILL BE DO BY PARTY' 'B'
HOPE THIS WILL CLERIFY YOU
SUNNY
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