Archive for the ‘Export-Import’ Category
How to Start Your Own Import Export Business
The following article is to encourage entrepreneurs and beginners, buy and sell their products or their stock in trade, industrial, or from the international market, or the intention to help.
Import:
1. Register your company and ensure that all licenses and other legal requirements are met.
2. Get a list of suppliers of the products to import and select the most reliable. A thorough investigation into the industry. This can be done with the help of the banks with their correspondents abroad.
3. Get a quote or pro forma invoice from the company with the selected provider. Make sure your bid includes the terms of shipment such as FOB, C & F or CIF. Payment for imports can be done as follows:
a.) Letter of Credit (L / C) – If you agree with your suppliers on price and other terms and conditions of the purchase, open a letter of credit with your bank. Under the agreement with its suppliers / LC can be displayed or USANCE, revocable or irrevocable, confirmed or not confirmed. After a vision of L / C, payment for goods in the production of documents of the supplier with your bank (usually the L / bench for the opening of C), regardless of whether or not the imported goods are supplied. Under USANCE L / C, a payment in one days later, taken after 30, 60, 90 or 120 days. A revocable L / C is one that can not be reversed without the consent of the supplier. A confirmed L / C is where the M / advisory bank, is subject to the confirmation of the LC, you must pay your supplier the value of imported goods, if the L / C opening bank can not you pay your suppliers for any reason.
b) When you open account (O / A) – Payment is made at a later date, adjusted according to the contract supplier.
c) For the documents against payment (D / P) – In this mode of payment, you must import payments for goods to the production of documents by the Bank imported.
d) Documents Against Acceptance (D / A) – In this mode documents from a bank in your community and acceptance (eg signature on the document signifies the acceptance of responsibility broadcast license) the issuing bank then the documents for you and Payment is made at a later date, after 15, 30, 45 or 60 days, depending on your contract with the supplier.
e) in advance – payment must be made before supplier ships the goods made Note that there are mainly the import of basic documents, but not limited to, original bill of lading (B / L) or air waybill, commercial invoice, original packing list or liking other original documents that you need. These documents are for the importer to ensure the release of goods theimported shipping / airline companies and customs authorities.
Exports:
1. Register your company to ensure that all requirements are met.
2. Select products you will export and check the difference governmental agencies that these items are not prohibited. If necessary, you will receive a list of all documents that are specifically required for regulated products. If you produce or manufacture their own products for export, know your production capacity. If you forgive the manufacture of their products meet the production capacity of all its subcontractors.
3. Open an account at a bank with international connections or one with correspondents in the locality of its customers.
4. If necessary, obtain background checks on all candidates to clients with the help of his bankers.
5. Are among the new buyers, always in advance before sending the merchandise.
6. If you agree on payment by Letter of Credit (L / C to ensure) that the letter of credit is irrevocable and the view.
7. Try to understand the different payment methods for international trade, as noted above, under the import. This is a simple step by step instructions on how to import and export. Although requirements vary from country to country, the general procedures and core are essentially the same.
Tags: How to Start Your Own Import Export Business
The following article is to encourage entrepreneurs and beginners, buy and sell their products or their stock in trade, industrial, or from the international market, or the intention to help.
Import:
1. Register your company and ensure that all licenses and other legal requirements are met.
2. Get a list of suppliers of the products to import and select the most reliable. A thorough investigation into the industry. This can be done with the help of the banks with their correspondents abroad.
3. Get a quote or pro forma invoice from the company with the selected provider. Make sure your bid includes the terms of shipment such as FOB, C & F or CIF. Payment for imports can be done as follows:
a.) Letter of Credit (L / C) – If you agree with your suppliers on price and other terms and conditions of the purchase, open a letter of credit with your bank. Under the agreement with its suppliers / LC can be displayed or USANCE, revocable or irrevocable, confirmed or not confirmed. After a vision of L / C, payment for goods in the production of documents of the supplier with your bank (usually the L / bench for the opening of C), regardless of whether or not the imported goods are supplied. Under USANCE L / C, a payment in one days later, taken after 30, 60, 90 or 120 days. A revocable L / C is one that can not be reversed without the consent of the supplier. A confirmed L / C is where the M / advisory bank, is subject to the confirmation of the LC, you must pay your supplier the value of imported goods, if the L / C opening bank can not you pay your suppliers for any reason.
b) When you open account (O / A) – Payment is made at a later date, adjusted according to the contract supplier.
c) For the documents against payment (D / P) – In this mode of payment, you must import payments for goods to the production of documents by the Bank imported.
d) Documents Against Acceptance (D / A) – In this mode documents from a bank in your community and acceptance (eg signature on the document signifies the acceptance of responsibility broadcast license) the issuing bank then the documents for you and Payment is made at a later date, after 15, 30, 45 or 60 days, depending on your contract with the supplier.
e) in advance – payment must be made before supplier ships the goods made
Note that there are mainly the import of basic documents, but not limited to, original bill of lading (B / L) or air waybill, commercial invoice, original packing list or liking other original documents that you need. These documents are the importer for the release of goods from the shipping and airline companies and customs authorities introduced certainly needed.
Exports:
1. Register your company to ensure that all requirements are met.
2. Select products you will export and check the difference governmental agencies that these items are not prohibited. If necessary, you will receive a list of all documents that are specifically required for regulated products. If you produce or manufacture their own products for export, know your production capacity. If you forgive the manufacture of their products meet the production capacity of all its subcontractors.
3. Open an account at a bank with international connections or one with correspondents in the locality of its customers.
4. If necessary, obtain background checks on all candidates to clients with the help of his bankers.
5. Are among the new buyers, always in advance before sending the merchandise.
6. If you agree on payment by Letter of Credit (L / C to ensure) that the letter of credit is irrevocable and the view.
7. Try to understand the different payment methods for international trade, as noted above, under the import.
This is a simple step by step instructions on how to import and export. Although requirements vary from country to country, the general procedures and core are essentially the same.