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Pre-Shipment Inspection (PSI) [Last Updated by: admin on 2012-01-01]
An inspection of contract goods prior to shipment to ascertain their quality, quantity or price. Importers may insist on PSI, requiring the exporter to furnish a certificate of inspection (commonly, issued by neutral, internationally-respected firms such as SGS or Bureau Veritas), so that the importer is assured of receiving goods of contract quality/quantity. Government agencies may require inspection certificates as regards price, so as to prevent parties from under- or over-invoicing in an attempt to pay lower customs duties or evade foreign-exchange restrictions.

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