On: October 10, 2022 By: Catherine J. Petersen
Your commercial invoice serves several important functions in the export process. Besides helping you get paid, it helps you clear customs, stay compliant with export regulations and collect against insurance policies if anything goes wrong. Here's what needs to appear on your invoices.
On: September 7, 2022 By: Catherine J. Petersen
The export packing list is one of the important documents you need for your export shipments. It provides the exporter, the freight forwarder and the ultimate consignee with information about your shipment, the packing details and the marks and numbers noted on the outside of the boxes.
On: August 8, 2022 By: Catherine J. Petersen
The U.S. Principal Party in Interest (USPPI) as defined by the Foreign Trade Regulations (FTR) is the person in the U.S. who receives the primary benefits, monetary or otherwise, of the export transaction; generally that person is the U.S. seller, manufacturer, order party or foreign entity.
On: March 8, 2021 By: Catherine J. Petersen
Exporters need to understand the different payment options available for an international transaction, along with the corresponding risks, benefits and costs. Use this guidance to help choose the best option and ensure you get paid.
On: March 2, 2021 By: Catherine J. Petersen
A deemed export is the release to a foreign national in the U.S. of technology that is subject to the Export Administration Regulations (EAR). Your company must comply with the EAR even if it isn't shipping physical goods outside the country, or it could face the potential penalties.
On: February 8, 2021 By: Catherine J. Petersen
Regardless of where you are exporting, the seller needs to prepare and provide export documentation so the buyer can quickly clear customs. Some documents are required by all importing countries; others are country specific. In either case, the paperwork needs to be filled out correctly.
On: December 28, 2020 By: Catherine J. Petersen
The trade term FOB has different meanings for domestic sales versus export sales. The FCA Incoterm is often a better choice for exporters. We compare FOB under the Uniform Commercial Code with the Incoterm 2020 rule Free Carrier.
On: September 21, 2020 By: Catherine J. Petersen
Before you calculate your final selling price and negotiate a sales contract, you and your buyer must agree upon who is responsible for transporting the merchandise as it makes its international journey. Incoterms 2020 rules provide a framework for assigning these costs and associated risks.
On: August 24, 2020 By: Catherine J. Petersen
While Schedule B codes used for U.S. exports are 10-digits long, only the first six digits are the same as in the country of import. Each country is allowed to add up to four additional digits to further delineate the product. So how many digits do I include on my commercial invoice?
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