Electronic Payment System
An EDI Solution for the Importers
Concerned about the delays and errors in
Bank Payment transmissions?
Staying ahead of your competitors is not an easy task, especially when
you barely have the time with all the paperwork in front of you. And if
you belong to the Customs trading community, meeting the bank's cut-off
time for the remittance of payment for Customs duties and taxes and eliminating
delays in the release of goods from port operators and warehouses are
major challenges facing importers. The result: a high landed-cost of import
goods due to extra man-hours for processing payments, additional messengerial
services, demurrage and storage charges, and other miscellaneous costs.
Face it: Time is of essence. And the longer you take getting your
business done, the more it's going to cost you.
The CWS ePay is the solution - a software that allows
you to receive copies of Customs Final Assessment and approved Import
Entry Declaration and transmit payment instruction to your depository
bank - electronically.
The CWS ePay works in tandem with the IC.Payments system which is installed
in the bank premises to receive your payment instruction, debit your account
based on Customs Final Assessment and immediately transmit the Payment
Advise (PAS4) to Customs Cash Division, to trigger the transmission of
the OLRS Release Instruction to the warehouse operators.
The CWS ePay was developed by InterCommerce Network
Services, Inc. for the Importers, to further streamline the Customs clearances
processes; thus, enabling companies to be more competitive.
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2 | Frequently Asked Questions (FAQ)
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