David Noah
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January 5, 2022
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Import Basics,
Export Basics
As new products come on the market and existing products change, the harmonized system numbers used to classify them need to be updated. To make these changes, the World Customs Organization (WCO) undertakes a formal process.
On Jan. 1, 2022, a new version of HS numbers, called HS 2022, went into effect. In this article, we’ll discuss the changes to HS classification and how exporters can stay up-to-date when classifying products.
David Noah
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December 22, 2021
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Export Finance,
Export Basics
What’s the most rewarding, and sometimes frustrating, aspect of being an exporter for you? For many, it’s simply getting paid on time, in the correct amount.
The rewarding part is self-explanatory. Obviously, we need to be able to earn a living! But the frustrating part is worth considering.
Take a look at these 10 terms and see if they can help you better understand the payment process (so you can make a profit sooner!).
David Noah
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December 20, 2021
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Export Markets
As the world’s largest trading nation, with more than $5.6 trillion in exports and imports of goods and services in 2019, the United States is a cornerstone of the global economy. Currently, the U.S. has trade relations with more than 200 countries, territories and regional associations around the globe.
In this article, we’ll share the top U.S. exports based on recent numbers and explain how exporters can pursue exporting to these markets.
David Noah
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December 15, 2021
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Export Basics,
Incoterms
Incoterms 2020 rules are the latest revision of international terms of trade published by the International Chamber of Commerce (ICC). They are recognized as the authoritative text for determining how costs and risks are allocated to 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 CPT, also known as Carriage Paid To.
David Noah
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December 8, 2021
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Export Basics,
Export Forms
In a previous article, I explained the purpose of several common export documents and the information they typically include. This article expands on that discussion and explains how to use them in the export shipping documentation process.
Here’s how they work together:
David Noah
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November 29, 2021
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Export Basics
Deciding to jump into the world of international trade isn’t an easy decision—or one you should enter into lightly. And being an exporter isn’t for everyone! However, in my opinion, deciding to export is the single most important thing you can do to grow your company and increase your sales. After all, more than 95% of the world’s population live outside of the U.S.!
David Noah
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November 22, 2021
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Export Compliance
Since you are reading this article, chances are you already have a good idea what an exporter does. Most people think an exporter is a person or company who sells to people, companies and/or governments in foreign countries.
But did you know that exporters don’t transfer only physical goods?
You can be an exporter without even knowing it if you are transferring knowledge. That is called a deemed export.
David Noah
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November 15, 2021
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Export Basics,
Incoterms
Incoterms 2020 rules are the latest revision of international terms of trade published by the International Chamber of Commerce (ICC). They are recognized as the authoritative text for determining how costs and risks are allocated to 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 CIF, also known as Cost, Insurance and Freight.
David Noah
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November 3, 2021
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Import Basics,
Export Basics
Country of origin is known as one of the last areas of definition under international trade, and it’s one that has no formal definition. (Even the World Trade Organization’s developed protocol has been interpreted differently.)
One subset of this incompletely defined area is marking and labeling. Despite the fact that 130 years have passed since the McKinley Tariff Act (also known as the Porcelain Marking Act), the way we label goods still isn’t standardized. In fact, we continue to legislate country of origin labeling today!
David Noah
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October 18, 2021
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Free Trade Agreements
CAFTA-DR is a free trade agreement among the countries of Central America, the Dominican Republic and the United States that went into force in 2006. It was designed to promote trade between these countries by eliminating tariffs over the course of 15 years. In other words, the main goal of the Dominican Republic-Central America Free Trade Agreement is to stimulate trade among these nations by making it more cost effective than ever.