What is High Sea Sale?
If a buyer wants
to sell his consignment to a third party before arrival of goods but after
sailing vessel from load port, such sale is known as high sea sale. In simple
words, the ownership of goods is transferred, when goods are on transit.
Imports means any goods
moved in to a country from foreign country.
8 Major Documents
required for import clearance under high sea sale
1. High Sea Sale Agreement
A High Sea Sale
Agreement entered between high sea buyer and high sea seller before arriving
cargo at territorial jurisdiction of importing country. Means, the high sea
sale agreement must be dated before arrival of goods at a territorial border of
an importing country.
2. High Sea Sale Invoice
High Sea Sale invoice is another document required for import customs clearance
procedures under High Sea Sale business. Such commercial invoice under high sea
sale must be in local currency of importing country, and not in foreign
currency. The details of goods sold with rate and total invoice value is
mentioned in such commercial invoice under High Sea Sale.
3. Consignee Copy of Bill
of Lading
A consignee copy of
Bill of Lading has to be enclosed along with other importing documents under
High Sea Sale. As bill of lading is a document of Title, such bill of lading
copy has to be endorsed in favor of high sea buyer by transferring title of
goods to him.(B/L- 3 original)
4. Import Invoice
The import
invoice issued by first seller to first buyer is needed as one of the
requirements of documents under High Sea Sale. Kindly note, this import invoice
must be endorsed by high sea seller in favor of high sea buyer.
5. Import Packing List
Import packing list is
the packing list originally issued by first seller. Such packing list needs to
be endorsed by high sea seller in favor of High Sea buyer.
6. Certificate of Origin
7. Phytosanitary Certificate
8. Fumigation Certificate
8. Fumigation Certificate
