The exporter must get in contact with the foreign buyer and then, send a proforma with characteristics and specifications of goods, payment ways (contra document, letter of credits, collection, etc.). After the approval of the proforma by the buyer, the payment proceeds. After confimation payment is received, the shipment instructive, exportation mandate and exportation invoices in dollars stamped by IRS must be sent to Magallanes Forwarder Chile S.A.

Banking paperwork starts at the Central Bank with the registration as an exporter, export license presentation, which once is authorized, allows to prepare the shipping.

Customs paperwork starts with the reservation of space in the shipping or air company, shipping schedule and consolidation of the container, in some cases the transfer to the shipping port to the staking place, which is carried out having the corresponding shipping order accepted by the Customs Office. This order must be made by a Customs Agent, prior revision of the Customs Supervisor. Goods may enter, if there is physical revision, goods must be checked physically, and then, these are shipped to the corresponding ship.

The shipping company must provide the shipping order with B/Ls numbered and freighted, in order to proceed to cancel the shipping order with the production of the Exportation Statement.
Note: he Customs Agency produces bill of ladings and origin certificates, whether they are required by the buyer and these certificates are endorsed by SOFOFA, SAG or SERNAP, which they may concern to.

The operation finishes with the delivery of documents to the correspondent commercial bank, so that it can send them to the consignee or correspondent bank. Apart from the bank proceeds with the payment of the return dollars, then the refund request is carried out (if that is the case) and the devolution of VAT involved by the Treasury's side (the refund proceeds provided that the product does not appear in the list of refund exceptions). The refund is liquidated or informed to the Central Bank through the commercial bank (term: 270 days).

PROCEDURE FOR IMPORTS

The purchaser gives his approval, submits his order to buy and then confirms the Letter of Credit or Bank Transfer, etc. The bank paperwork is accomplished by the client's commercial bank, and once the Letter of Credit is approved, the corresponding foreign bank is notified and the seller is notified so they can proceed with the shipment. All of these transactions are accomplished for you by Magallanes Forwarder Chile S. A.

Customs Paperwork consists of; port entrance declaration and presentation of the EDI to the Custom Service, payment and withdraw of the merchandise from the port, and previous approved funding for the client. This paperwork can be presented in advance with a Procedure in Advance before the ship or airplane arrives, so it can be unloaded directly from the vessel on to a truck, or normal procedure, according to the importer's instructions, provided we have the basic documents beforehand.

The Customs Norms allows for two options with respect to the payment of duties: a) Declaration of incoming goods with immediate payment, b) delayed duty payment with a declaration of Private Warehouse, system for which the Customs Service allows you to remove the merchandise to the importer's warehouse, without advance payment, only with the object of storing the merchandise which cannot be used or consumed until the duties (IVA) are paid. The system of Private Warehouse allows for a window of 90 in which the taxes are to be paid. During the first 30 day there is no interest charged. From day 31 through day 90 you must pay bank rate interest on the duties owed. During this period you are permitted to make payments to the suspension regime of duties.

The process is finished with the hedge in the commercial bank and the remittance, in the appropriate currency, is made to the exporter.