Basic Terminology related to Cars

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With the beginning of nineteenth century automobiles entered the transportation market, but only for limited audience. However, the introduction of Model T by Henry Ford changes people’s way to live, work and travel. It transformed the automobile from luxury into a necessity. As the technology improved, vehicles began to move faster and more people started to buy them. And now, we have become so dependent on vehicles that it is almost impossible to live them.
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What is the importance of bill of sale for buying a car?

Bill of Sale

Numerous vehicles, may it be new or used are purchased from Japan within a year. Buying a used car is an easy process, but requires some paper work also. To make the vehicle registered with DMV (Department of Motor Vehicles), a bill of sale is required. Basically, a bill of sale is a document that records a transaction between buyers and sellers; it acts as confirmation of an agreement and is legally obligatory. The document is something one needs for accounting and taxation purposes. One can count on the document in case any issue of ownership arises as this document serves as the proof the buyer really bought the car.
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What is Cargo Tracking Note?

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Cargo Tracking Note (CTN) also known as Bordereau de Suivi Cargaison (BSC) or Loading Certificate is an official shipping document that contains information related to the cargo and its movement between ports. Various shipper councils in different countries require this document while vehicle importation. CTN is requested by Customs to importers for clearance of cargo. All documents related to cargo must have CTN number if shipped under CTN. The CTN number must be provided to the ocean carrier at the loading port for addition in the manifest and Bill of Lading. Cargo traveling by sea must be issued with a CTN before departure by an approved agent.

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Importance of Bill of Lading in Used Car Import from Japan

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Bill of Lading often abbreviated as BoL or B/L is a legal document between the shipper of Japanese used cars and the carrier listing the type, quantity and destination of the cars being transported. The Bill of Lading is one of the most crucial documents associated with trade. Being a document of title, it is used as proof of transportation of vehicles in various authorities all over the world. See More…

Telegraphic Transfer (T/T) remittance method for buying Japanese Used Car

Telegraphic Transfer sometimes referred to as a Telex Transfer or simply T/T is a simple and fastest legal way of dispatching money overseas through any bank with Forex facility. It involves the remittance of funds between the banks using electronic coded messages. The message provides the receiving bank with the information of currency, amount, date of payment, the beneficiary name and payment instructions.

money-transfer

It is an advance payment method and is usually used in case of buying used cars from Japan for remittance. An electronic communication system known as SWIFT (Society for Worldwide Interbank Financial Telecommunication) is used for dispatching message. See More…

What are the documents required to import used cars from Japan ?

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Importing a used car from Japan is not complicated but the importer must know the procedure and the documents required while importing any used vehicles from Japan.Now a days Buyers can easily order the used vehicles through online from any of the exporters in Japan but they were not aware of the details like what type of documents they must ask from the dealers, as per their country import & export regulations, to avoid problems during custom clearance. See More…