How to become a Clearing Agent In Botswana

How to become a Clearing Agent In Botswana

What is Clearing Agent?

a person or company that is used for getting goods officially from one country to another: Our clearing agents will deal with all the documentation related to your international freight transport.

How to become a Clearing Agent In Botswana

The applicant must lodge a security bond of a nominal fee of P20 000.00 with the Commissioner of Customs and Excise, through a recognized financial Institution (bank or insurance company) accredited to the Central Bank of Botswana. This only applies after approval of the application.

Frequently Asked Questions

What are the main functions and duties of clearing agents?

Clearing Agents and Freight Forwarders will assist you with the necessary customs transactions. A Freight Forwarder will arrange for your goods to be transported from one country to another while a Clearing Agent will make sure that your goods are cleared with customs.

What qualifications do you need to be a customs officer in Ghana?

Qualification: Must be a Ghanaian citizen aged Eighteen (18) years and above, with at least a Senior High School Certificate (or its equivalent) and a minimum of Ten (10) years working experience in the Customs clearing business.

Who appoints clearing & forwarding agent?

As exports is a complex subject and requires lot of documentation and compliance of procedures, it is desirable for the exporter to appoint C &F agent who are specialized in this field to guide and arrange shipment of goods, at economic cost, for the smooth completion of export transaction.

What is the difference between a freight forwarder and a clearing agent?

A freight forwarder negotiates freight rates to sustain the interest of the clients. Clearing agent on the other hand looks after the job of applying for refund wherever applicable. A freight forwarder normally is the one who prepares bills of lading and the concerned shipping documentation.

Is FedEx a clearing agent?

FedEx offers standard customs clearance, however, we also offer a comprehensive range of value-added solutions when your shipment has special clearance needs.

What is clearing agent with example?

Clearing agents are liquids miscible with alcohols (such as ethanol or isopropanol) and with melted paraffin wax, in which specimens are embedded to facilitate cutting of thin sections for microscopy. This example is from Wikipedia and may be reused under a CC BY-SA license.

Who regulates clearing firms?

A DCO that seeks to provide clearing services with respect to futures contracts, options on futures contracts, or swaps must register with the CFTC before it can begin providing such services.

How does a clearing broker work?

Clearing brokers are liaisons between investors and clearing corporations. The key job of clearing brokers is that they ensure the securities market runs smoothly and efficiently. Clearing brokers handle buy and sell orders but also maintain custody of account owners’ securities and other assets.

Who pays clearing fees?

Clearing fees are charged by the party that guarantees the trade, the clearing house. The role of the clearing house is to minimize the impact and concern regarding default. The fees are very small, but variable, and usually passed along to customers of the exchange along with the commission charges they incur.

Who pays the clearance fee?

The seller or shipper normally cannot pay the duty in advance. Working with a customs broker that you trust can save you from being duped by the seller who claimed to prepay the duty. Customs brokers can pay the duty on the importers behalf and bill it as part of their services in clearing your goods at port.

How much does a customs clearance agent charge?

A customs broker or a CHA generally charges around INR 4000 to 5000 for a small or a regular-sized shipment.

How do shipping agents make money?

Freight brokers make their money in the margin between the amount they charge each shipper (their customer) and what they pay the carrier (the truck driver) for every shipment. Although it varies from one transaction to the next, healthy freight brokers typically claim a net margin of 3-8 percent on each load.