|10 Items That Belong on Your Commercial Invoices
7/22/2014 - by Catherine J. PetersenA commercial invoice is a formal request of reimbursement by the seller to the buyer. For your export shipments, it can serve several added functions: (1) The destination country requires it before clearing the goods through customs. (2) If there is an insurance claim on the shipment, it serves as a key supporting document. (3) The buyer uses it to release funds through its bank to the seller. (4) A bank examines it before reimbursing funds under a letter of credit or documentary collection. (5) U.S. export regulations require that exporters retain it for five years from date of shipment. (6) Exporters can use it to support foreign credit risk insurance claims.
A Dangerous Good Shipped by Any Other Name Would Smell as Sweet
7/15/2014 - by Robert SmithRecently, a large international company contacted me to review their entire shipping process and propose a solution for complete compliance with domestic and international hazmat regulations. They were completely frustrated grappling with all the variations that applied to their products of fragrances and perfumes. Their problem was not only interpreting the domestic hazmat regulations, but also the differences that exist when shipping their products internationally. As I wrote last month, the hazmat regulations that apply to their domestic shipments don't necessarily apply to shipments sent to other countries.
Maximizing Meeting Results: An International Business Culture Checklist
7/8/2014 - by Becky DeStigterIf you are involved in international trade, chances are you are meeting people from around the world. In order to make these meetings more successful, it's important that you try to understand the business culture of the people with whom you will be meeting, and hopefully, doing business. This checklist identifies the types of information you should research before meeting. Higher cultural competency can strengthen a business relationship and expedite international business transactions.
You Can Export the Whole Pig Except the Squeal!
6/30/2014 - by Roy BeckerWith a little creativity and ingenuity, companies have sold and shipped amazing goods overseas. For example, a trading company that specializes in animals and animal by-products has encountered some interesting situations.
9 Things You Need to Know to Prepare an Export Quote
6/23/2014 - by Catherine J. PetersenMore often than not, an export transaction begins with a request for a quote from the buyer to the seller. The quote serves as a formal statement of promise by your firm that you will provide certain goods or services at specified prices and within an identified period of time. Acceptance of the quote by the buyer constitutes an agreement binding on both parties.
Avoiding Risk in International Trade: What We've Learned
6/16/2014 - by Roberto BergamiThis is the tenth and final part of my series of articles on assessing risk in international trade. In my last article of this series, I made some comments about certain aspects of regulatory issues and market access. In this article, I will provide some general comments and a final conclusion.
Hazardous Materials or Dangerous Goods?
6/9/2014 - by Robert SmithDepending on whether you ship domestically within the U.S. or you import and/or export and ship internationally, the regulations for shipping hazardous materials and dangerous goods have a variety of similarities and differences.
Is English Enough as the Only International Business Language?
6/2/2014 - by Becky DeStigterFor those of us involved in international trade, there are always conversations held in languages that we don't understand. Is something important being discussed? Are others developing rapport while we sit on the side? Most North American business people learned at least a little foreign language in secondary school. But we are generally less comfortable leaving the security of English behind. What does it take to learn another language, and is that effort worth it?