Foreign Procurement: Handling Ownership of Goods in Transit

Foreign Procurement: Handling Ownership of Goods in Transit

Reading time: 14 mins

Learn how to handle goods in transit (GIT) during foreign procurement. The process starts with the transfer of ownership at the time of shipment handover. It goes on to storing it in a bonded warehouse at the port of entry (if necessary), and finally to posting it to the company’s material stock account at the...

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