Blogs

KEEP IN TOUCH

Difference Between High Sea Sale and Imports

What are the major differences between imports and high sea sales? What are the procedures for high sea sales? Know in detail about international trade with export import course online. Imports are goods and services purchased from other countries rather than locally produced products by the citizens of a country. When domestic industries are no longer able to produce similar goods cheaply or efficiently, imports come in existence. Furthermore, countries can import raw materials or commodities that are unavailable within their borders. Whereas, a high sea sale occurs when a buyer wants to sell his consignment to a third party before the goods arrive, but after the shipping vessel leaves the loading port. Ownership of the goods is transferred when goods are in transit. The bill of lading should be endorsed in the buyer’s favour; the date of the transaction should be between the date of the Bill of Lading and the date of the vessel’s arrival at the port of discharge. All the documents pertaining to the high sea transaction should be available to the final buyer. He or she should also obtain copies of previous high seas transactions. Is there anything you would like to share about high sea sale and imports? This information is part of our online export import management course.