Pre- Shipment inspection PSI is a part of supply chain management and an important quality control method for checking the quality of goods clients buy from supplies.
Psi ensures that production complies with specification of the buyers and the terms of purchase order or letter of credit. (L/C)
Pre- shipment inspection can diminish risk inherent to commerce like phishing and fraud.
The psi can be agreed upon between a buyer, a supplies and a bank and it can be used to initiate payment for letter of credit.
A pre- shipment inspection can be performed at different stages before shipment, such as checking the total amount of goods and packing controlling the quality or consistency of goods, checking of all documentation as for example test reports, packing list or verification of compliance (VOC) with standard of the destination country and release certificate of Inspection. (COI)
The increasing growth of global trade expresses the significance of participation as well as the need to global exchange on the part of all the countries in the world. In other words, in today’s world, no country can claim to be needless of global trade. For this reason, absolute self-sufficiency cannot be realized. We are witnesses to the fact that today; all countries in the world are making great efforts to increase their respective shares in the global market where free competition is the governing condition. Trade in this market is a complex, technical and specialized business and is not limited to the buyer and the seller alone. In other words, for trade to occur, factors other than importers and exporters are involved including banks, insurance companies, transportation companies, forwarders, and inspection companies. In this way, through the participation and mediation of these factors, the proper environment for systematic trade can be provided. Rules and regulations set forth by international organizations have also played an important role in identifying the tasks, responsibilities, obligations, and duties in the global trade arena of each of the abovementioned factors.
In line with this, banks have managed to greatly reduce both the buyer’s and the seller’s concerns regarding the existing nonsimulteniety between trade and delivery of Goods by applying foreign purchase mechanisms via the documentary letter of credit approach. To this end, banks apply the uniform custom and practice for documentary credit (UCP) set forth by the International Chamber of Commerce (ICC) to assure both parties to a contract (who reside in different countries) that the seller would receive the due amounts and the buyer would receive the purchased Goods. However, according to the above regulations, the actions and inspections on the part of banks are only performed in relation to the documents that are subject of the letter of credit, without encompassing the Goods that are referred therein.
For this reason, international Goods inspection companies were founded for sighting and controlling Goods. Today, these companies are an indispensible part of global trade and are involved in such activities as quantity and quality control, packaging, and preventing the import/export of low-quality goods.
Please note that, if the imported goods are subject of the Iranian compulsory standards, due measures must be taken for obtaining the product compliance certification based on the relevant standard. In such cases, the Goods Inspection Unit would be responsible for inspecting, sampling, and confirming the goods as well as issuing the relevant compliance certificate.
Capabilities of the Goods Inspection Group:
- Inspecting goods at all inlets and customs offices
- Inspecting goods at the place requested by the buyer or seller
- Inspecting imported machinery upon installation in the factory/plant
- Issuing Goods confirmation certificates upon receiving a request to this effect from the bank (LC and bank draft)
- Issuing Goods compliance certificate for goods that are subjects of compulsory standards (VOC and COI)
- Issuing export approval license
- Issuing confirmation for the goods that are subject of letters of credits (in Rials)
- Issuing approval (verification) certificates at the buyer’s request
- Appraising damages to imported goods
- Evaluating the imported Goods and confirming the proforma invoice prices