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Outsourcing of foreign economic activity (FEA)

Dear FEA participants!

In case you do not want or cannot act as a direct importer of goods for some reason, we can offer you a complete FEA outsourcing under the condition Status-Expert Kaliningrad Company acts as an importer.

In this case your company and Status-Expert Kaliningrad Company conclude an agency contract, as well as a delivery contract is concluded between your supply contractor and Status-Expert Kaliningrad LLC. In frames of these contracts our company purchases, deliver and clear goods through customs acting as your agent. In turn, you meet expenses that Status-Expert Company Kaliningrad has incurred in an agreed manner.

The subject matter of an agency contract concluded between the Agent and the Client is that the Agent makes physical and legal arrangements on its own behalf but for the Client’s account and for a consideration to purchase goods for the Client and to deliver purchased goods to the Client directly or to another entity indicated by the Client.

Terms of operating under the FEA outsourcing scheme:

  • Conclusion of a foreign economic contract on the Agent’s behalf and for the Client’s instructions for the delivery of a homogeneous lot of goods with a foreign Supply Contractor (non-resident company).
  • Transfer of currency to the foreign Supply Contractor on account of payment for the goods.
  • Provision of services of obtaining approval documents on non-tariff measures.
  • Customs clearance of goods and transport means of the Client that are imported under the concluded foreign economic contract between the Agent and the Supplier, including payment of all types of customs duties.
  • Delivery of goods to the address indicated by the Client and provision of related logistics service (e.g. arranging storage of goods and transport means of the Client at a TSW etc.)
  • Insurance of the Client’s cargoes under the condition that the Agent acts as an insurer and the Client acts as a beneficiary.

Advantages of usage of the FEA outsourcing scheme for clients:

There is no need to make an international payment in a foreign currency to foreign contractors (goods suppliers) and therefore there is no need to observe procedures determined by the currency legislation (filing a currency transaction report form etc.)

All stages of goods delivery are documented in one agency contract according to which the Agent is a financial intermediary in dealing with a foreign partner, a forwarding agent, the Client’s insurance broker, and a customs applicant. Under a general operation scheme you would need to conclude 4 contracts at best, and additional financial and time resources would be used to negotiate and follow these contracts.

Under the new scheme for import of goods and transport means, the Client becomes a sole and absolute owner of goods by virtue of an agency contract and a foreign economic contract, and the goods are imported with observance of international, customs, tax and civil laws.

Under this dealing scheme the company’s foreign economic activity stays transparent and legal, and this contributes to the long-term and successful development of foreign activity of your business.

 

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