On: June 8, 2020 By: Roy Becker
Many U.S. importers, exporters and bankers don't understand Incoterms 2020 rules that are the standard sales terms used in international trade. As I demonstrate in this article, the danger of incorrectly using terms like Ex Works (EXW) and Free on Board (FOB) can be considerable.
On: May 18, 2020 By: Joseph A. Robinson
It's not unusual for an international transaction to include a middle man or woman who brought the buyer and seller together. But once this connection is made, this middle person is at risk of being cut out of future deals. Here's what you can do to protect yourself.
On: April 8, 2020 By: David Noah
Too often, U.S. companies involved in importing and exporting think only in terms of U.S. dollars. But doing so increases your risks while limiting your profitability. Here are four reasons you should explore currency exchange services to help protect your international transactions.
On: January 13, 2020 By: Arnesh Roy
A Foreign Trade Zone (FTZ) is a designated areas within the United States that is legally outside of the customs territory of the United States. Goods that reside within an established FTZ haven’t yet cleared customs allowing companies to save money and make their products more competitive.
On: December 9, 2019 By: Arnesh Roy
As an exporter, you must ensure your exports will not be used by an end user or for an end use prohibited by the Export Administration Regulations (EAR) or the International Traffic in Arms Regulations (ITAR). That means screening your customers against denied party lists and watching for Red Flags.
On: November 25, 2019 By: Joseph A. Robinson
One of the important differences between accidental exporters and export professionals is that the professionals are following a plan. Here is a simple export plan outline that is a compilation of best practices within the industry. You can use the 12-part outline as a guide to write your own plan.
On: November 18, 2019 By: David Noah
Selling on consignment in international trade is a variation of selling on an open account. Payment is sent to the exporter only after the goods have been sold by the foreign distributor to the end user. While this can be risky for the exporter, it can also provide them with some great advantages.
On: November 13, 2019 By: David Noah
Exporters who ship goods valued at more than $2,500 must file through AESDirect and provide an Internal Transaction Number (ITN). That number should be included in your bills of lading and the Shipper's Letter of Instruction (SLI) so your forwarder and customs know you’ve filed.
On: October 30, 2019 By: David Noah
It’s easier than ever to sell goods anywhere in the world. But that doesn’t mean you’re ready. There's a lot to know before you get promoted from accidental exporter to professional exporter. Here are 5 things you should worry about before you market, sell and ship goods internationally.
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