scarves

 

dress

 

tops 

skirt

OSS is one of the well known Indian buying house from Delhi exporting and supplying a wide variety of products.

We have expertise for sourcing, sampling, quality checks, Inspections, Audit and shipment co-ordination. OSS is a one stop shop for all importers, we act as their Indian counterparts and deliver a wide range of buying services. We have a strong vendor base across India for sourcing of Home Furnishings, Floor Coverings, Housewares, Furniture, Apparels, Gifts and Accessories, Christmas Items, Henna and more.

With our strong business associations with the country’s best suppliers, exporters and manufacturers dealing in a vast variety of products we bring the choicest range of products to our buyers offering them the best of designs, quality and prices.

Pre Shipment Inspection (PSI)

Pre-shipment inspection, (also spelled pre shipment inspection) or PSI, is a part of supply chain management and an important quality control method for checking the quality of goods clients buy from suppliers.

PSI ensures that production complies with specifications of the buyer and/or the terms of a purchase order or letter of credit. A final random inspection (FRI), checks finished products when at least 80% of an order has been produced and export-packed. Samples are selected at random, according to standards and procedures. Pre shipment inspection can diminish risks inherent to Internet commerce like phishing and fraud.

OSS provides pre-shipment inspection services to governments as a way of protecting import revenues for themselves and their citizens.

Governments implement PSI programs to ensure that imports comply with their regulations. Non-compliance with these regulations can result in:

  • The loss of valuable duty and tax revenue
  • The loss of foreign exchange reserves (in countries where exchange controls exist)
  • The importation of substandard or prohibited goods

How It Works

  • A physical inspection of goods is carried out pre-shipping, in the country of export, establishing the exact nature of the goods.
  • The invoice and other documents are then scrutinized, and an accurate valuation, and customs tariff code, are assigned. These are used, in conjunction with the client country's published duty rates, to calculate the correct duties and taxes payable.
  • An OSS certificate is issued to the importer. This is used to substantiate the payment of full duty, prior to clearing the goods.
  • The actual duty collected is compared with the OSS certificates, and any shortages can be investigated and corrected.

Benefits

OSS Pre-Shipment Inspection (PSI) maximizes duty collections. By undertaking duty assessment in the country of export, importers have no opportunity to pressurize customs to assign lower rates.

Compliance with the World Trade Organization (WTO) Agreement on Customs Valuation is now mandatory for all members. Without OSS PSI, countries introducing the Agreement invariably experience a reduction in revenue collections. OSS ensures that the Agreement is fully implemented as required by the WTO, and in a way that maintains duty revenue collections.

Trade facilitation: inefficient Customs administrations and the failure of importers to comply with import procedures can both delay trade. An OSS certificate ensures rapid Customs clearance, by undertaking the necessary physical and documentary inspections before the consignment is dispatched.

OSS  PSI deters capital flight in countries where exchange controls exist by preventing deliberately inflated invoicing. This can reduce foreign exchange reserves, which can also reduce the taxable income declared by multinational companies.

OSS PSI significantly reduces the incidence of prohibited imports, such as radioactive waste, by inspecting shipments in the country of export before dispatch.

As a PSI programme takes effect, so a vast database of vital trade information is created, which can be supplied to the Buyer Government in a variety of formats, as an aid to economic decision making and to induce confidence in donors.

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