The e-CMR or electronic CMR is the digital equivalent of the CMR Transport Document in paper-based format that is used and signed in 4 copies (sender, consignee, carrier and administration. Its use implies adherence to the CMR Agreement (Contrat de Transport International de Marchandises par Route) that regulates it. At present, 25 European countries have already ratified the e-CMR protocol, ... Read More »
Author Archives: Olegario Llamazares
Feed SubscriptionBuying agents: functions, commission and contract
Buying agents –also known as purchasing agents– are increasingly used in foreign trade operations: exports and imports. Buying agents are responsible for buying supplies, products, materials and services at the lowest possible price while maintaining a high level of quality. Buying agents must be skilled in assessing current market conditions as they directly affect supply and demand for services and ... Read More »
Incoterms explained in 10 key dates
Incoterms can be explained thanks to a group of entrepreneurs, financiers and traders whose determination to bring economic prosperity to a post-World War I era eventually led to the founding of the International Chamber of Commerce (ICC). With no global system of rules to govern trade, it was these businessmen who saw the opportunity to create an industry standard that would ... Read More »
What is a pre-shipment inspection (PSI)?
The Pre-Shipment Inspection (PSI) can refer, depending on the country, to the verification of the quality and quantity of the exported goods, their packaging, their price (export market price, value in customs), customs classification, as well as suitability for importation. These type of inspections are carried out by specialized private companies that must respect the Agreement of the World Trade ... Read More »
Incoterms 2020: transfer of ownership and payment risk
Incoterms 2020 do not regulate the transfer of ownership of the merchandise, nor the sale price, the form of payment, the general conditions of sale, etc. These issues are defined in the International Sale Contract that materializes the consent between the seller and the buyer. Exporters and importers often confuse risk transfer with transfer of ownership. This confusion is understandable ... Read More »
International Arbitration: Practice and Arbitration Courts
The use of international arbitration is increasingly frequent due to the complexity of international operations, as well as the existence of multiple contracts and the plurality of parties. Therefore, it is important to take this aspect into account when drafting the dispute resolution clause, as well as when choosing the applicable arbitration rules. Arbitration is a process of dispute resolution ... Read More »
What is an export business plan?
The purpose of the Export Business Plan is to prepare companies, specially middle and small, to enter the international marketplace or to better organize their existing international business activity. The Plan will serve as a step-by-step guide to lead the company through the process of exporting products and services to international markets. The purpose of the Plan is to address ... Read More »
Export Documentation: Top 10 Export and Import Documents
Export documentation lies at the heart of all international trade transactions. In provides exporters and importers with an accounting record; shipping and logistics companies with instructions of what to do with freight information; and banks with instructions and accounting tools for collecting payments. Export documents are more complex than those used for domestic sales due to the special characteristics of ... Read More »
Contract manufacturing in China
Contract Manufacturing in China is a decision taken by thousands of companies in recent years. China has become the “factory of the world”. Hundreds of thousands of foreign companies have decided to move production to China and hire local companies that manufacture all kinds of products, at competitive prices, which are then sold on world markets. The relationships between the ... Read More »
What is a Memorandum of Understanding?
A Memorandum of Understanding between companies is a document like a contract but not binding on the parties, except when confidentiality and non-competition agreements are included. It is essentially a collection of key points of an agreement between two parties that are negotiating a contract; in this respect, a Memorandum of Understanding is simply the agreement signed prior to the ... Read More »