International trades between countries have existed for centuries. We have come a long way since the earlier times and International trade today has taken on new dimension.
Articles on Import & Export Management
International Trade has been in there for centuries and all civilizations carried on trade with other parts of the world. The article discusses about how International Trade has evolved in last few centuries.
Anyone wanting to understand more about Imports and Exports would have to understand the history and economic principles that have chartered the course of international trade to its current regime.
With the creation of WTO, there have been constant efforts made to unite countries to create more markets, to standardize tariffs and trade laws as well as remove trade barriers in trying to create free markets.
In Exports we have several types of trade or export transactions and the nature of the business determines the payment terms. Lets discuss in detail about these payment methods used in international trade.
This article is a basic primer to the international payment systems and explains in simple terms, how the international payment system works. The key theme in this article is that because of automation, globalization, and liberalization, the international payment system is operating smoothly and value being created to all participants in the value chain that underpins the system.
Letter of Credit is one of the safest mechanisms available for an exporter to ensure that he gets his payment correctly and the importer is also assured of the exporters adherence to his requirements.
International Chamber of Commerce consolidated the various international sales terms under INCOTERMS. It defines the transfer of liability involved in the international sale along with the arrangement of shipments and transportation.
Countries levy Import and Export Duties on specific items and also based on countries of origin. The article discusses about the different types of Licenses used in International Trade.
All countries exercise controls over international trade through Trade Laws, Tariffs and Taxes which are known as Import and Export Duties.
Customs Department is the Federal Government Agency that is invested with Authority to conduct Customs Valuation and collect Import as well as Export Duties on behalf of the Government.
The customs clearance process and co-ordination with the Customs and other agencies necessitates the services of engaging a Customs Clearance Broker or Brokerage Agency.
When any Organization Imports any item into the country, the cargo would need to be Custom Cleared. Customs Clearance or brokering is done by third party service providers who are licensed by Customs for the said purpose.
Customs Clearance is facilitated by Customs Clearance Agent or Broker who is authorized agency or an operator to file the necessary documents on behalf of the importer.
Customs Clearance process requires set of documents to be submitted by the Importers. Lets discuss some of the documents required from the importers.
The Customs Clearance agent are aware of all the Customs Rules and Laws and ensure compliance of the same in a speedy manner so as to ensure that the import consignment is cleared within the allotted free period.
Nowadays most of the organizations are thinking global, setting up networks globally and this is leading to an increase in international trade. Lets understand the International Marketing Business Model in detail.
The most common Export Marketing Channles available to exporters are - Sales and Marketing Agency, Country Distributor and Consignment Sales Agents. Lets study these Channels in detail.
Free Trade Zones (FTZ) are one of the sub categories of Specual Economic Zones which are created by the government. These areas are exempt from most of the normal trade barriers, tariffs and national laws and seek to promote exports.
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