Commerce WASSCE (PC 2ND), 2022

Question 2

 

Explain the following documents as used in international trade, stating one use of each:

  1. Consular invoice;
  2. indent;
  3. ship’s manifest;
  4. bill of sight;
  5. dock warrant.


Observation


Most candidates attempted this question and the performance was good.
 
The expected responses to the question include:

 

            Explanation of documents used in international trade


i.        Consular invoice
It is a document that is signed and certified by the consul of the importer’s country stating          that the prices indicated on the invoice are correct.

Uses:

  • The document is used to ensure correct payment of duties to customs at the importing country.
  • It is used to prevent falsification of prices by importers.

 

ii.       Indent
It is an order to buy goods in international trade.

Uses:

  • It gives details of goods required and date of delivery.

 

iii.      Ship’s manifest
It is a document prepared by the captain of a ship and lodged with the customs authorities before the ship can leave the port.

Uses:
It shows particulars of the ship, its cargo and destination.


iv.      Bill of sight
It is a document submitted to the customs authority if the full description of the cargo cannot be provided by the importer.

Uses

  • It is used as a temporary document which enables goods to be examined by the customs officials before the arrival of the shipping documents.
  • Where a full description of the imported goods as contained in the bill of exchange is not available, a bill of sight is used. Through a bill of sight, the inspection of such goods is authorized by the customs’ authorities.

 

v.       Dock warrant
This document is a receipt for goods delivered and stored in the warehouse either by the exporter or importer.
Uses

  • It is used as a document of title which enables the person who presents it to claim the goods.
  • It is used to indicate safekeeping of the goods in the warehouse awaiting clearance.