THE RISK OF NOT INCLUDING INVOICE AND PACKING LIST WHEN PROCESSING YOUR SHIPMENT FOR INTERNATIONAL TRANSFER

An invoice provides a detailed account of the products or service and a set of other information. It can vary a bit depending on the requirements in the country the invoice is issued and the type of product or service being sold. While a packing list is a document which details the contents, quantities, carton count of the shipped product, and often dimensions and weight, of each package or container. It serves to inform all parties involved with shipping, including transport agencies, government authorities, and customers, about the contents of the package. It also helps them deal with the package accordingly.

                                                                                                      

The Requirements for Form M

Do you know what Form M is?

See 15 Important Things You Must Know About Form M

Form M

Form M is a mandatory document when it comes to importation of goods into the country. It is needed to initiate the importation process in Nigeria. Form M must be processed with or without payment of processing fee and it must be done before the goods to be imported is shipped into Nigeria.

5 Simple Steps to Obtaining Form M

If you have read Valuehandlers’ 15 Important Things to Know about Form M and the Requirements for Form M, then you need to know how to obtain Form M.

Form M

Obtaining Form M is very crucial in the importation process of Nigerian. Here are 5 simple steps to take in order to obtain Form M.

1. Tender the E-Form M application to an Authorized Dealer Bank alongside the following:

* Profoma invoice

* Locally sourced insurance certificate

* Regulatory certificates or permits. Some products are regulated by Standard Organization of Nigeria (SON), others like food and drugs are regulated by National Agency for Food and Drug Administration and Control (NAFDAC).

2. After the Form M is completed, it is then submitted to the Nigeria Customs Service (NCS) for approval or validation.

3. Nigeria Customs Service (NCS) would review the application and either accept or reject it within one working day. If accepted, the E Form M would be registered in the Single Window Trade system but if rejected, the reasons for rejection would be given by NCS and the documents would be returned for correction.

4. For the E Form M that got accepted by the NCS, the importer would then ask the exporter to begin shipment arrangements for shipment regulated by SON. Inspection, testing and certification would be done so as to get a SONCAP Certificate (SON) which is required for the Customs clearance of goods at any Nigerian Port.

5. Once the SONCAP Certificate as been issued (where necessary), the goods can then be shipped to Nigeria.

In case you need further assistance as regards process and compliance, kindly contact us at customercare@valuehandlers.com. For questions, more information, and further inquiry, you can call us on 08032241768.

Written and posted by: Shalewa Babatayo Ajenipa New Media Executive

Valuehandlers International Limited

No9 Akilo Road,
Cocoa b/stop
Off Oba Akran Avenue, Ikeja
Tel: +2348032241768, +2348182072412customercare@valuehandlers.com, Info@valuehandlers.com,
WhatsApp: 08082375017
Website: www.valuehandlers.com,
Facebook: www.facebook.com/valuehandlers
Twitter: @Valuehandlers, 

Skype: Valuehandlers

Instagram: Valuehandlers

G+: Vlauehandlers

LinkedIn: Valuehandlers

Youtube: Valuehandlers

Messenger: m.me/valuehandlers

Inland Dry Port - Meaning and Importance

Inland Dry Port

Inland Dry Port is the inter-modal terminal which is situated inland and is directly connected by road or rail to a seaport, which functions as a centre for the transshipment of sea cargo into inland destinations, and performs services like customs clearance, maintenance of containers, storage, forwarding, etc which are performed in the seaports.

15 Important Things You Need to Know About Form M

I must be frank with you this time around. Do you know that without Form M, you will not be able to import or export to Nigeria. By implications, what does Form M means. Have you heard that no shipping without Form M?

I am not here to scare or bore you with the implications of Form M but to hint you on the values of the form. Form M is a mandatory statutory document to be completed by all importers for importation of goods into Nigeria. It is a mandatory documentation process put in place by the Federal Government of Nigeria through the Federal Ministry of Finance and the Central Bank of Nigeria (CBN), to monitor goods that are imported into the country as well as enable collection of import duties where applicable.

The life span of a Form M is 180 days (for general merchandise) and 365 days (for plant and machinery), after which an extension of 180 days (for general merchandise) and 365 days (for plant and machinery) can be granted on the Form M by the Authorized Dealer. Any further extension has to be approved by the Central Bank of Nigeria (CBN).

It is therefore mandatory for all importers to complete and register Form 'M' with Authorized Dealers at the time of placing orders whether the transaction is valid for foreign exchange or not. This is currently initiated electronically on a Trade Portal provided by the Central Bank of Nigeria in conjunction with the Nigeria Customs Service.

Therefore, Valuehandlers provide you with 15 important things you need to know about Form M.

Form M

1. The first official document needed to initiate shipment into Nigeria is the Form M

2. Form M is an E form. That is electronic form. The electronic form replaced the hard copy to reduce human interference and reduce or and eliminate crude corruption and improve ease of doing business.

3. It is a mandatory documentation process.

4. Introduction of the E Form M commenced November 22, 2012 but full implementation of the electronic Form M began December 06, 2012 during the era of President Goodluck Ebele Jonathan and Ngozi Okonjo Iweala as Finance Minister.

5. It is out in place by the Federal Government of Nigeria, Through the Federal Ministry of Finance (FMF) and Central Bank of Nigeria (CBN).

6. It exists to monitor goods that are being imported into the country.

See More

Written and posted by: 

Shalewa Babatayo Ajenipa 

New Media Executive

Valuehandlers International Limited

No9 Akilo Road,
Cocoa b/stop
Off Oba Akran Avenue, Ikeja
Tel: +2348032241768, +2348182072412customercare@valuehandlers.com, Info@valuehandlers.com,
WhatsApp: 08082375017
Website: www.valuehandlers.com,
Facebook: www.facebook.com/valuehandlers
Twitter: @Valuehandlers, 

Skype: Valuehandlers

Instagram: Valuehandlers

G+: Vlauehandlers

LinkedIn: Valuehandlers

Youtube: Valuehandlers

Messenger: m.me/valuehandlers

Why Charge Shipment with Volume Weight / dimensional Weight Instead of Actual Weight

Many people lament about being cheated, being charged unfairly or overly charged for their shipment, without sufficient knowledge on what determines the shipping cost. Basically, shipments are charged based on size, weight, delivery time or distance. When shipping, it is important that the shipper (supplier) release accurate information on dimensional weight and actual weight to the customers so shipment charges can be forecasted reliably.

Difference Between Direct Freight Shipping And Consolidation Shipping

Different people engage in shipping activities without fully understanding the kinds of shipping that is being done for them. In order to put an end to this kind of confusion, Valuehandlers has decided to shed light on the difference between direct shipping and consolidation shipping.

WHAT IS CARGO?

Means of Transporting Cargo

Cargo (or freight) can be referred to as goods or produce transported, generally for commercial gain, by ship, aircraft, train, van or truck. In modern times, containers are used in most inter modal long-haul cargo transport.