On: May 18, 2020 By: Joseph A. Robinson
It's not unusual for an international transaction to include a middle man or woman who brought the buyer and seller together. But once this connection is made, this middle person is at risk of being cut out of future deals. Here's what you can do to protect yourself.
On: April 8, 2020 By: David Noah
Too often, U.S. companies involved in importing and exporting think only in terms of U.S. dollars. But doing so increases your risks while limiting your profitability. Here are four reasons you should explore currency exchange services to help protect your international transactions.
On: January 13, 2020 By: Arnesh Roy
A Foreign Trade Zone (FTZ) is a designated areas within the United States that is legally outside of the customs territory of the United States. Goods that reside within an established FTZ haven’t yet cleared customs allowing companies to save money and make their products more competitive.
On: December 9, 2019 By: Arnesh Roy
As an exporter, you must ensure your exports will not be used by an end user or for an end use prohibited by the Export Administration Regulations (EAR) or the International Traffic in Arms Regulations (ITAR). That means screening your customers against denied party lists and watching for Red Flags.
On: November 25, 2019 By: Joseph A. Robinson
One of the important differences between accidental exporters and export professionals is that the professionals are following a plan. Here is a simple export plan outline that is a compilation of best practices within the industry. You can use the 12-part outline as a guide to write your own plan.
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 14, 2019 By: Becky DeStigter
Too many US companies give up on expanding sales to foreign markets because they think those markets are too hard to penetrate. But too often the real problem is a lack of international negotiation skills. Here are five negotiation rules that can help address some of the biggest issues.
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.
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