Comprehensive Guide to Importing Goods

By Rahamco Trading Department

Introduction

Importing goods is a highly specialized, legal, and multi-phase process in which compliance with legal regulations and professional principles plays a fundamental role in reducing financial, legal, and operational risks. Rahamco’s Trading Department, as a center for specialized consulting, management, and execution of import and customs clearance procedures, has prepared this guide to enhance the knowledge and operational capabilities of individuals and legal entities.

Legal and Operational Stages of Importing Goods

1. Enhancing Legal and Technical Knowledge of Imports

Initiating an import activity requires a sound command of trade regulations, familiarity with tariffs, customs requirements, order registration rules, and proficiency in drafting international contracts.

Legal Recommendation: Reviewing current customs regulations, participating in specialized import training courses, and seeking consultation from legal trade professionals can help reduce the risks of international contracts.

2. Formulating and Documenting Import Strategy

Every importing company is obliged to develop and document its business and legal strategy regarding the target market, product type, technical capabilities, and financial capacity.

Key Points:

  • Accurately identify domestic market needs
  • Assess domestic production capacity and justify the need for imports
  • Ensure the product’s technical and legal compliance with local regulations

Key Questions:

  • What domestic needs does your product address?
  • What are the related legal, technical, and standard requirements?

3. Identifying and Evaluating Foreign Suppliers

Choosing a reliable supplier is not just a commercial decision but includes significant legal aspects and requires:

  • Market research
  • Reviewing the supplier’s legal and commercial background
  • Obtaining credit checks from official sources
  • Participating in international exhibitions and trade delegations
  • Leveraging reputable B2B platforms and verifying company registration documents

Legal Recommendation:

All negotiations and contracts with foreign suppliers should align with legal terms, arbitration mechanisms, and international standards.

4. Pricing Methods and Cost Management

The pricing of imported goods is influenced by various factors such as:

  • Fixed costs: (market research, negotiations, legal affairs, standardization, insurance, packaging, order registration)
  • Variable costs: (transportation, insurance, taxes, customs duties, warehousing)
  • Understanding foreign exchange platforms and managing the risks of currency and tariff fluctuations.

5. Concluding International Purchase Contracts and Receiving the Proforma Invoice

Drafting contracts with precise legal conditions, choosing appropriate payment terms (LC, TT, advance payment, open account), and obtaining a proforma invoice with technical, legal, and financial details.

Professional Tip:

The contract should include termination clauses, enforcement guarantees, dispute resolution mechanisms (SC/DA/Arbitration), delivery of transport documents, and the specification of INCOTERMS.

6. Order Registration and Obtaining Legal Permits

Order registration on the Iran Integrated Trade System, obtaining the necessary permits, Iran Code, standards certificates, and health permits as required.

Legal Recommendation:

Permits must be obtained before making any payment to the seller. Any discrepancy may entail legal and financial consequences.

7. Following Up on Shipping and Cargo Insurance

Selecting the best mode of transportation (sea, land, air, multimodal) according to the product’s nature and finalizing cargo insurance under international clauses (All Risks, FPA, WA).

Professional Points:

Full understanding of INCOTERMS 2020 and choosing transport and insurance contracts appropriate to both parties’ risk profiles is essential.

8. Completing Banking Formalities and Fund Transfers

Complying with banking regulations, currency transfer rules, FATF requirements, obtaining necessary approvals from the Central Bank, and managing banking documents and guarantees.

9. Transportation, Reception, and Physical Inspection of Shipments

Upon goods’ arrival, inspect compliance with the contract, technical and legal standards, obtain inspection certificates, and supervise customs clearance.

10. Customs Formalities and Goods Clearance

Passing the goods through all legal customs stages, submitting the electronic declaration, providing required documents (proforma, packing list, bill of lading, insurance policy, certificate of origin, etc.), and paying legal fees, duties, and taxes.

Note:

All clearance operations should be conducted by an experienced customs broker familiar with the latest regulations to prevent the goods from being held or seized.

11. Final Delivery and Settlement with the Foreign Party

After obtaining the customs clearance permit and releasing the goods, coordinate the final delivery to the destination warehouse and settle all financial and legal matters with the foreign party.

Essential Documents Required for Importing Goods

  • Proforma Invoice
  • Commercial Invoice
  • Bill of Lading (B/L, AWB, CMR)
  • Certificate of Origin
  • Packing List
  • Insurance Policy
  • Inspection Certificates and Technical or Health Standards
  • Customs Declaration, Clearance Permit, Warehouse Receipt
  • Copy of Commercial Card and Economic Code
  • Related Ministry Permits

Legal Points for Risk Prevention

  • Always sign official contracts with suppliers and seek sufficient guarantees and credit checks.
  • Obtain all necessary legal permits and approvals before committing to payment or issuing an LC.
  • Maintain continuous legal consultation with specialized foreign trade lawyers at every stage.
  • Ensure that transport, insurance, and inspection documents are thoroughly checked before goods arrive.

Import and Clearance Procedures in National Systems

The entire process must comply with the latest legal requirements and be performed through national trade and customs smart systems, and only by a licensed broker or authorized customs agent.

Summary & Final Advice by Rahamco Trading Department

Carrying out the import process requires precise knowledge of legal procedures and accurate documentation, anticipating contractual risks, complying with legal requirements, and relying on the expertise of licensed brokers. Rahamco’s Trading Department, with its specialized team, is ready to provide legal and operational consulting from the initial stage to the final clearance of goods.

To receive legal and commercial consulting services in the field of import and customs clearance, please contact Rahamco’s Trading Department.