Posted in Operations and Supply Chain Terms, Total Reads: 251
Definition: Importation Point
Importation point is referred to a location where goods are cleared for importation in a particular country. The importation point can be a port, airport or a border crossing depending on the mode of shipment where all the related documents are verified and permit is checked. Documents like import license etc. are verified that are provided by some governments authorizing the importation of goods in their particular country.
All the documents are verified by the customs department of that particular country. Since the verification of the documents and goods takes time, certain goods or merchandise is held by the customs department in their warehouses at the importation point. Once all the necessary procedures are done, importers are permitted to take their merchandise from the customs warehouse. Generally, merchandise is held for a period of less than 15 days.
In this stipulated time, importer is required to complete all the formalities and take the delivery of goods otherwise the goods will be places in the general order warehouse with the transportation and storage risk borne by the importer. Ports are the major importation point since most of the goods are transported through sea mode internationally. The customs department facilities are present at all the ports to facilitate the importation of merchandise in the country.