Company Name:
Lishui Huanqiu Bearing Trading Co., Ltd.
Company Address:
No.11 Shiting Road, Shuige Industrial Zone,Lishui, Zhejiang,China
Contact Person: William
Email: admin@tradebearings.com
Homepage: www.asiabearings.com
Bearing B2B: www.tradebearings.com
Customs Freight Simplified Procedures (CFSP) can be used to import goods. Traders who want to use CFSP must be authorised to do so. As the system is electronic, benefits include reducing paperwork and approval times.
Goods can be admitted to customs warehousing under Simplified Declaration Procedures (SDP) or under the Local Clearance Procedure, with the appropriate conditions met for that type of procedure. If you choose to use SDP to enter your goods, additional procedures apply depending on the type of warehouse.
Applications for CFSP can be made alongside applications to operate a customs warehouse.
To be authorised, traders and agents will have to show that they meet a range of enhanced conditions regarding accounts and records, customs compliance and solvency. These enhanced criteria will need to be in place in your business before HMRC can grant authorisation - customs officers may visit your premises to verify your systems and paperwork.
Entering goods using CFSP
CFSP can be used to enter goods to and remove goods from a customs warehouse, provided a valid CFSP authorisation is held. Under CFSP, formalities at the frontier are kept to a minimum with the bulk of fiscal and statistical data being supplied electronically to Customs Handling of Import and Export Freight at a later date, however there are some exceptions.