IMPORT PROCESSES
LEARNING OBJECTIVES
After reading this unit, the students are expected to understand: * Import procedure and documentation * Using INCOTERMS * International Transport alternatives * Using shipping and freight agents * Transport documents * Conventions covering liability of the carrier * Insurance * The Tanzanian import procedures * International purchasing vs global purchasing

INTRODUCTION

Definition of import and Import process

Import can be defined as a good or service brought into one country from another (www.investopedia.com). It involves physical movement of goods form the foreign county (exporter), and from baying county (importer) sending payment to the same as per payment agreements. Along with exports, imports form the backbone of international trade. The higher the value of imports entering a country, compared to the value of exports, the more negative that country's balance of trade becomes.

The word "import" is derived from the word "port," since goods are often shipped via boat to foreign countries. Countries are most likely to import goods that domestic industries cannot produce as efficiently or cheaply, but may also import raw materials or commodities that are not available within its borders. For example, many countries have to import oil because they either cannot produce it domestically or cannot produce enough of it to meet demand.

Import can be defined as a commercial transaction involves movement of goods and services between a buyer and a seller located in different countries (Lyson K and Farrington B 2012)

Import process is defined as a process of bringing goods from foreign country for the purpose of using them in the importing county, reselling them in another country, processing them (for the case of raw materials)(Small business Encyclopaedia).

Payment through letter of