Customs Import Procedure

IMPORT PROCEDURE 1. The buyer (Toyota Motor Philippines Corporation) will send a purchase order to the seller abroad (Toyota Motor Corporation in Japan).

2. The buyer then the seller will conclude a sales contract which contains of the following: a. Quantity and specified description of the goods
INNOVA (BLACK)
INNOVA (WHITE)
INNOVA (RED)
COROLLA ALTIS (DARK BLUE)

b. Unit price and total income value Unit PriceUSD 20,219.51 USD 20,219.51 USD 20,219.51 USD 23,414.63TOTAL | AmountUSD202,195.12USD 202,195.12USD 101,097.55USD 117,073.17USD 622,560.96 |

c. Mode of Payment: Letter of credit d. Term of shipment: CIF (Cost Insurance and Freight), by sea e. Date of shipment: September 2, 2013 f. Country of destination and port of discharge: Metro Manila, Philippines g. Insurance h. Documentary Requirements

3. After the confirmation of the contract the seller will prepare the Proforma invoice and send it to the buyer.

4. The buyer then signs the invoice and sends it back to the seller.

5. Upon compliance to the terms and conditions of the contract the goods will be shipped by the seller to the buyer along with the necessary requirements such as: a. Commercial Invoice b. Packing List c. Bill of Lading d. Other documentary requirements (Insurance articulate)

6. When the buyer receives the original copy of the documents the buyer then submit the copy of the documents to an authorize customs broker who will check upon the arrival of the goods, compute the customs duties and taxes and prepare the import entry requirements and process the release of said goods to the Bureau of Customs from the port of