What is the difference between the trading partner and the overseas supplier indicated on an import declaration? Released

The guidance provided by the Korea Customs Service regarding the relevant content is as follows.

- Trade Counterparty: Enter the name of the Seller as indicated on the invoice issued by the party to the transaction.

- Overseas Supplier: Enter the Shipper on the B/L who actually supplies the contracted goods.

On an invoice, the party that receives payment for the relevant goods and delivers them is listed as the Seller.

In other words, it is the party that receives the actual amount indicated on the invoice. 

Meanwhile, it is stated that for the Overseas Supplier, the Shipper on the B/L who actually supplies the contracted goods must be entered; if the party selling the goods is the one delivering the goods in international transport, the Trade Counterparty and the Overseas Supplier will be the same.

However, if a third party ships the goods on behalf of the seller, the party receiving the actual payment will be the Seller shown on the invoice, and the Shipper on the B/L will be the shipping agent; therefore, in such cases, the Trade Counterparty and the Overseas Supplier will be entered differently.