On: February 26, 2020 By: David Noah
The U.S. Foreign Trade Regulations identify the various parties in an export transaction including a U.S. Principal Party in Interest (USPPI) who may or may not be the same party as the exporter. It's important to understand the difference between the two and the responsibilities of both.
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: December 11, 2019 By: David Noah
It's easy to get frustrated by the amount of time it takes to complete your export documents. Companies can spend two hours or more on every single export shipment, which can quickly consume an entire day. Here are 10 time-saving tips for creating and organizing accurate export forms.
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: November 13, 2019 By: David Noah
Exporters who ship goods valued at more than $2,500 must file through AESDirect and provide an Internal Transaction Number (ITN). That number should be included in your bills of lading and the Shipper's Letter of Instruction (SLI) so your forwarder and customs know you’ve filed.
On: October 30, 2019 By: David Noah
It’s easier than ever to sell goods anywhere in the world. But that doesn’t mean you’re ready. There's a lot to know before you get promoted from accidental exporter to professional exporter. Here are 5 things you should worry about before you market, sell and ship goods internationally.
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.
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