Overview:
Customs has two methods of determining exchange rate validity when dealing in a currency outside of NZD, Forward Cover and Floating.
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Forward Cover will not validate the exchange rate at NZ Customs side and any rate will be accepted.
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Floating must be a valid exchange rate at the time of original submission from the NZ Customs exchange rate list.
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New Zealand dollar (is automatic) and must have an Exchange Rate set of 1.00.
Prodoc cannot advise on the regulations around using Forward Cover and will apply the indicated rate type or default to Floating.
Customer Actions:
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Find out which exchange rate indicator is valid and advise Prodoc.
Required Files:
None
Outcome:
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Correct Exchange Rate Indicator is applied.