1. Procurement of Product
The importer places an order with their supplier and provides Turners Shipping with an irrevocable payment instruction including the transaction detail.
2. Payment of the Supplier
Using our foreign exchange payment licensing with the Reserve Bank, Turners Shipping will pay the supplier in accordance with the importer’s supplier’s terms.
3. Trade Finance Invoicing
Once payment is booked and proof of payment is provided through SWIFT confirmation, Turners Shipping invoices the importer in ZAR at the booked spot rate.
4. International Customs Clearing and Freight Forwarding
Turners Shipping is able to handle the overseas landside logistics, the foreign customs clearing and the freight forwarding to South Africa.
5. South African Customs Clearing and Delivery
Local customs clearing is completed by Turners Shipping and the product is delivered to a general or bonded warehouse or to the importer’s choice of destination.
6. Customs Clearing Invoicing
Turners Shipping prepares a Customs Clearing Invoice in accordance with the importer’s facility. The invoices are payable in ZAR.
7. Payment to Turners Shipping
Once the importer’s underlying transaction (that has been funded through Trade Finance) has been liquidated, payment is made over to Turners Shipping. Terms of up to 120 days from invoice are available.