Third Party Inspection and Verification Services:
The pre-shipment inspection is normally agreed between a buyer, a supplier, and a bank, and it can be used to initiate payment for a letter of credit.
A PSI can be performed at different stages:
• Checking the total amount of goods and packing
• Controlling the quality and/or consistency of goods
• Checking of all documentation, including test reports and packaging list
• Verifying compliance with the standards of the destination country