On: February 10, 2020 By: David Noah
The information required on the invoices you use with your exports often differs with the information that appears on your accounting invoices. If you don't include the right information on your export invoices, your goods can get stuck in customs, or you might have difficulty getting paid.
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: October 9, 2019 By: David Noah
The International Chamber of Commerce (ICC) has released the new Incoterms 2020 rules that identify the responsibilities of buyers and sellers for the delivery of goods in international trade. The terms also identify when the risk for those goods transfer from the seller to the buyer.
On: October 2, 2019 By: David Noah
In most cases, the proforma invoice will be the first export document you create. When a potential buyer expresses interest in your product, they will send a letter of inquiry outlining the terms of their interest. That inquiry is your cue to create a proforma invoice.
On: September 23, 2019 By: David Noah
There are five common payment options used for exports. In documentary collections, the exporter entrusts the collection of payment to the exporter's bank, which sends documents to the importer's bank. Funds are received from the importer in exchange for those documents.
On: September 4, 2019 By: David Noah
An export compliance program (ECP) helps companies successfully complete their export journey and avoid violating the Export Administration Regulations (EAR) and International Traffic in Arms Regulations (ITAR). Here's why your company needs one and the elements it should include.
On: August 26, 2019 By: David Noah
Having accurate export documents is imperative to your company. They help ensure your shipments arrive on time and you get paid quickly, they save you money in shipping and storage fees, and they reduce the likelihood you're violating export regulations that expose you to potential fines.
On: August 21, 2019 By: David Noah
Shipping dangerous goods is a complex, highly regulated process. Failing to do it right can put you and your company at risk—financially and otherwise. Here’s how to protect your business and employees from costly hazmat regulations violations.
On: July 31, 2019 By: David Noah
Export compliance is a nuanced, complex process that requires exporters are aware of government regulations and requirements. In an effort to make understanding and obeying export compliance regulations a little easier, here are three epic fails in compliance you should avoid at all costs.
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