The Guide to Importing into South Africa is provided as a free service to South African companies and to the community which trades with them by MBendi Information Services and Whitehouse and Associates. Extensive information is provided on each step of the import process together with contact details for service providers.
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»Researching your Market
Identifying markets with which to trade involves both desk and in-market research.
»Identifying the Trade Opportunity
The most difficult step in the international trade sequence is the identification of the correct trading partner. There are a number of resources available that can assist in the identification of suitable partners.
»Understanding the terms
Before getting involved in a foreign market, you need to familiarise yourself with the phrases and terms commonly used in international trade.
»South Africa’s relationship with the International Community
An understanding of South Africa’s relationships with other countries and the international community in general will assist in negotiations.
»Preparing the Quotation
Once a suitable trading partner has been identified, a written quotation can be sent to the importer.
»Drawing up a Contract of Sale
Once the buyer has confirmed acceptance of the order, seller and buyer have a contract of sale subject to the issue of the agreed letter of credit or other payment mechanism.
»Organising Payment and complying with exchange control
Selecting the correct payment term and complying with South African exchange control regulations are essential components in ensuring payment.
»Applying for an Import permit
The importer need to ensure that he or she complies with South African import regulations.
»Requesting Quotes/Estimates for Trade Services
The Trade Service Quote system allows exporters to complete one set of forms to request quotes/estimates for transport, finance and insurance
Depending on the circumstances of the deal, the importer or exporter needs to decide on the best mode of transport and to book space with a chosen carrier.
»Organising Cargo Insurance
Depending on the agreed terms of delivery, the importer or exporter will take out cargo insurance against the risk of damage during transit
The efficiency of the transaction will depend on the correct documentation being submitted at the correct time to the correct authorities.
The imported product will be subject to the payment of import duties and, in some cases, excise tariffs.
»Succeeding in the South African market
South Africa is a unique market with both third and first world characteristics. A good understanding of the trading environment is essential for success in this market.