If you want to export goods around the world, you will need to utilize international shipping. There are two ways you can deliver your goods to overseas customers– by air freight or ocean freight. To choose which option is the best for your customers, you’re going to need to consider various factors such as what […]
News that the US Trade Representative (USTR) has begun to question whether or not the Section 301 of the Trade Act of 1974 should be continued beyond the four-year mark since its implementation dropped last week and caught everyone by surprise. The announcement stated that “the first step in the four-year review process is […]
The freight forwarding process refers to the flow of goods between destinations. The process is conducted by freight forwarders. Businesses seeking to expand and grow by trading at an international level should turn to the freight forwarder to streamline the process and ensure accuracy. Shipping items provides an opportunity for an organization to expand its […]
The process of export in sea freight is fairly straightforward. Receive an Inquiry The initial step to launching the export process includes gathering the shipping documentation. Once the potential buyer expresses an interest then a letter of inquiry is sent that outlines the terms of the buyer’s interest and a request for two quotes, […]
Regularly collecting data on the nation’s rail delays and port congestions impacting supply chains, the NCBFAA Transportation Committee’s Logistics Subcommittee has compiled the latest data in an easy-to-use Excel spreadsheet. The spreadsheet makes sure to cover steamship line names, the port from which the ship or vessel is coming from, as well as the port/rail […]
Exporting takes a lot of paperwork to complete. International shipping requires basic export documents. Each one must be filled out properly to ensure that the process of good movement does not encounter any roadblocks. Proforma Invoice The start of an export exchange beings with an inquiry about products. The inquiry is a quote. With a […]
Exporting is the sale of products or goods from the home country where the goods are made or sourced to a foreign country where the goods will be sold. Importing is the opposite. It is the act of bringing foreign-made or sourced items into the country. Importing is often referred to as global sourcing. […]
Signed into law on December 23, 2021, the Uyghur Forced Labor Prevention Act (UFLPA) created a rebuttable presumption to ensure that any imported goods are not produced wholly or in part with convict labor, forced labor, and/or indentured labor – including forced or indentured child labor. Any goods, wares, articles, and merchandise mined, produced, or […]
Are you interested in launching an import/export business? As with any startup, there are a lot of things to consider. Ideally, you should have a business background and experience in global finance coupled with international relations. In this guide, we’ll explore a few basic steps to starting an import/export business. Business Basics As with any […]
Congress regulates and taxed international imports and exports. The U.S. also uses a highly effective tariff system along with very concise regulations of imported goods. The revenue raised is then used for the Treasury. If you are interested in obtaining an import business license, then you’ll want to familiarize yourself with the regulations delegated by […]
