CNF Full Form

CNF Full Form


Full Form & Meaning of CNF- Full form of CNF isClearing and forwarding agents”. These Clearing and forwarding agents undertake most of the functions connected with exports such as marketing, labelling, packaging of goods, advising on trade laws, arranging local transportation, and also help exporters with claiming duty-drawback.

Roles & Responsibilities of Clearing and Forwarding Agents

Clearing and forwarding agents play an important role in ensuring smooth shipment and clearance of cargo. Their responsibilities include timely documentation, submission of appropriate paperwork to authorities and related subsidiary activities such as arranging specialized labor and transport to help clear goods quickly. Some of their key roles are: 

  • Determining harmonized tariff of goods for customs duties
  • Calculating import duties and taxes or VAT as applicable
  •  Assisting with clearing instructions to confirm that all information received from shipper and consignee is accurate before submitting for customs clearance
  •  Framing Bill of Entry (BOE) to be submitted
  • Arranging customs clearance or release with relevant requirements as per the cargo to avoid penalties and delaysFacilitates shipments for exporters while acting as a guarantor to ensure that commercial operations take place under agreed conditions

 

Why Need the Service of Clearing & Forwarding agent?

Clearing and forwarding agents are well-versed with customs and shipment procedures. They support exporters with facilities like:

  • Warehousing facilities before goods are transported to docks
  •  Booking of shipping space or freight
  • Advice on cost of shipping via sea or air
  • Arrangement of loading goods onboard
  •  Information on shipping lines and freight to different destinations
  • Obtaining marine insurance policies
  • Preparation and processing of shipping bills like Bill of Lading, Dock receipt, Export declarations, Consult invoice, Certificate of OriaginCommercial invoice, etc
  • Forwarding of bank collection papers