David Noah
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October 13, 2021
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Import Basics,
Export Basics
If you’re exporting to another country, there’s always a cost. In addition to paying fees for customs duties, you may also be paying Value Added Tax (VAT) if you’re selling goods to a country with a VAT regime. What many U.S. exporters don’t know is that they may be able to get some of this VAT refunded. In this article, we’ll look at where VATs exist and how to recover these costs.
David Noah
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October 11, 2021
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Export Compliance,
Export Basics
As an exporter, you must be concerned with the proper classification of your goods and products.
I hear from many exporters who are confused about the Export Control Classification Number (ECCN) classification for their product and the Harmonized System (HS), Harmonized Tariff Schedule (HTS) and Schedule B numbers for their products.
First, it’s critical to understand that these classification systems have different purposes.
David Noah
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October 6, 2021
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Export Basics,
Incoterms
Incoterms 2020 rules are the latest revision of international trade terms published by the International Chamber of Commerce (ICC). They are recognized as the authoritative text for determining how costs and risks are allocated to the parties conducting international transactions.
Incoterms 2020 rules outline whether the seller or the buyer is responsible for, and must assume the cost of, specific standard tasks that are part of the international transport of goods. In addition, they identify when the risk or liability of the goods transfer from the seller to the buyer.
In this article, we’re discussing the Incoterm CFR, also known as Cost and Freight.
David Noah
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October 4, 2021
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Export Basics
Freight forwarders are a cornerstone in the export shipping process. And with more than 40,000 forwarding and logistics firms employing around 8 to 10 million people in 150 countries around the globe, finding the best freight forwarders may seem like finding a needle in a haystack.
Where do you begin?
Lisa Nemer
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October 1, 2021
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Shipping Solutions News & Tips
Shipping Solutions is pleased to announce the release of Shipping Solutions Professional/Enterprise 9.17 and Shipping Solutions Classic 8.17, which provides more forms and features to help our clients efficiently complete their export paperwork and comply with export regulations with each export shipment. See below for a description of each new feature.
Arnesh Roy
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September 29, 2021
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Export Compliance
U.S. exporters quickly develop an awareness of two acronyms: ITAR, the U.S. Department of State’s International Traffic in Arms Regulations, and EAR, the U.S. Department of Commerce’s Export Administration Regulations. I often get calls from exporters asking similar questions: “How do I know if my items are controlled by ITAR or EAR?” or “I’ve determined that my items are covered by the EAR. Now what?”
The Bureau of Industry and Security (BIS), which is charged with enforcing the EAR, explains that there is a specific Order of Review process for determining export controls jurisdiction (which agency controls the export) and classification (the correct commodity classification code to use for the product being exported). This article breaks it down.
David Noah
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September 27, 2021
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Export Forms
Are you a new exporter looking for a primer on bills of lading? Or maybe you’re at the opposite end of the spectrum—a seasoned professional seeking a reference or training tool.
Either way, this article is for you! We’ll explain, in simple terms, three things you need to know about the bill of lading form.
David Noah
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September 22, 2021
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Export Compliance,
Export Basics
Biologists classify living things in an ever-more-precise system of groups so that these organisms are easier to study. This classification system starts with domains and kingdoms and narrows down to specific genus and species. This system of classification is recognized and used by biologists around the world.
Likewise, countries classify products by a standardized series of numbers in order to assess duties and taxes on goods that are imported into their countries and to collect importing and exporting statistics. This classification system starts with the six-digit Harmonized System (HS) codes that are used by almost every country when classifying products and then narrows to longer and more specific classification codes that may be unique to each country.
Matthew Silverman
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September 20, 2021
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Export Compliance,
Export Basics
Trade compliance provides avalue to companies that is simple enough for management and mostemployees to appreciate and understand—helping the company avoid legal violations that can result in monetary penalties, loss of import/export privileges and reputational damage that can in turn have negative business and financial implications.But as withmost compliance functions, the added value of trade compliance can often be overlooked or underappreciated (even by trade compliance professionals themselves).
David Noah
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September 15, 2021
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Export Basics,
Incoterms
Incoterms 2020 rules are the latest revision of international trade terms published by the International Chamber of Commerce (ICC). They are recognized as the authoritative text for determining how costs and risks are allocated to the parties conducting international transactions.
Incoterms 2020 rules outline whether the seller or the buyer is responsible for, and must assume the cost of, specific standard tasks that are part of the international transport of goods. In addition, they identify when the risk or liability of the goods transfer from the seller to the buyer.
In this article, we’re discussing the Incoterm FOB, also known as Free On Board.