When importing from India, both the buyer and the exporter may forget to consider some important import costs. This can lead to a variety of problems, such as delays in delivery, unexpected expenses, and difficulty in budgeting. Buyers and exporters alike need to be aware of these costs before engaging in any import/export transactions. By doing so, they can ensure that their transactions run smoothly without any unexpected issues or delays. As the best India Sourcing Company, Catalyst Sourcing is here to help you figure out the key import costs.
When it comes to export costs, there is a significant difference between importing LCL (Less than Container Load) and FCL (Full Container Load). If you are importing LCL, then the export costs can be quite significant. However, if you are importing a Full Container Load, then the export costs are comparatively much more economical looking at the budget of the entire shipment.
Also, when deciding on the cost of shipping, there are two main factors to consider: variable and fixed costs. Variable costs refer to those that change with the shipment size or cubic meter (CBM), while fixed costs do not change with the shipment size or CBM.
So, let’s understand the costs one by one!
1) Transportation [Variable Cost]
Air shipment and sea shipment are two popular options for transporting goods from factories to ports, with each offering its advantages and disadvantages. Air shipment is often faster but more expensive, while sea shipment is slower but more cost-effective. Depending on the type of goods being shipped, businesses can choose between air or sea shipment.
AIR SHIPMENT: $30 (approx).
SEA SHIPMENT: $30 (approx).
2) Documentation For Custom Clearance [Fixed Cost]
Documentation fees are an important part of the customs clearance process. It is important to understand that these fees are fixed and do not fluctuate based on the type of shipment. Whether you are shipping by air or sea, the documentation fee for customs clearance remains the same. Most top sourcing companies in India always include and inform about this cost first-hand!
AIR SHIPMENT: $8 (approx).
SEA SHIPMENT: $8 (approx).
3) Certification Fees [Fixed Cost]
Certification fees are necessary for ensuring that goods shipped by air or sea meet the safety and quality standards of the destination country. The certification fee for air and sea shipments is fixed, regardless of the size or quantity of goods being shipped. This fee helps to ensure that all shipments are inspected and certified before they leave the origin country.
AIR SHIPMENT: $100 (approx).
SEA SHIPMENT: $100 (approx).
4) Bill of Lading Fee [FIXED COST]
A bill of lading fee is a fixed fee that is charged for the transportation of goods by air or sea. The fee covers the cost of preparing and issuing a document called the bill of lading, which is used to record details about the shipment. Knowing this fixed amount in advance can help exporters and importers plan better and ensure they have the funds available for their shipment.
AIR SHIPMENT: $45 (approx).
SEA SHIPMENT: $45 (approx).
And the list goes on…
There are still many export costs that you may need to pay depending on your shipment. This is why you will need an India Sourcing Company by your side. Catalyst Sourcing has been helping clients with hassle-free export experience for years. We have successfully handled 1000+ clients’ supply chain needs, making us the go-to partner for all your export needs. Our team of experts will work with you to ensure that your supply chain is managed efficiently and cost-effectively. With our experience and expertise, you can be sure that your products will be delivered on time and have no end-minute cost troubles. We’ve got your back!
Get in touch today and discuss your requirements. We are here for you!
