When conducting business in the realm of international food import, legal agreements between companies and suppliers are essential to ensuring smooth transactions. One method of furthering business contracts is with a notary custody agreement employed by many companies to protect their interests. For instance, Bigfood Blue White is a commercial food importer that requires its suppliers to enter into notary custody agreement contracts prior to any sale. This method helps companies ensure that proper authorization is given for products entering the international supply chain. Obtaining the service of a notary custody agreement requires careful planning. A company representative must visit the notary office and present company documentation to be notarized as part of the contract agreement. Typically the agreement will cover different aspects such as manufacturing locations, transfer of ownership and if applicable, exports. A legal witness may or may not be required for a notary custody agreement and if so, it is at the discretion of the notary office and your company. As a result of having proper legal agreements in place, food import businesses like Bigfood Blue White ensure that inventory arriving at their warehouses is in proper order. If problems are encountered, this legal documentation also helps to expedite the return of goods. Additionally, contracts help to protect the owner of the company from other parties involved in the import process. Overall consistency can be achieved with all imported products, because all the proper channels have been identified and agreed upon along the supply chain. The benefit of a seamless process with legal agreements in place is directly related to the efficiency of big international trade. The agreements among the different parties can be replicated to give structure to the importing process. With the agreement of ownership, proper certifications, and locations of manufacturers, a seamless path is created to prevent complications. Without a structured arrangement as seen with a notary custody agreement, a business and its representative may be blamed for defects that occur during shipping. As a result, the business may not be able to get its money back and could potentially suffer a financial loss. Common issues that food import companies may face revolve around contracts and agreements. For example, when an importer receives inventory from an overseas supplier, the goods may be missing paperwork. In rare cases, a supplier may fail to provide paperwork altogether. Without proper legal documentation, an importer is subject to paying extra fees, fines and even losing a shipment. In the case of having a notary custody agreement in place, the company would be able to receive a refund for the costs imposed by the missing documents. It becomes a significant liability for a food importer when contracts and agreements are not validated by notary services. Legal issues can cause unwanted financial repercussions to businesses taking part in international trade. In some cases, the valid authorization paperwork may not be received until after a shipment has reached the country of importation. Arrangements for producing the necessary compensation fees must be made by the importer and its representatives. Typically, the proper revision costs are unable to be passed onto an export destination that is responsible for the paperwork – without the use of legal documentation and compliance. Bigfood Blue White and other food import organizations must always stay informed with the latest updates to the law. Often, statutory changes modify existing agreements required for international trade.
Bigfood blue white
food imports
