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International trade documents and payment methods

International trade documents are an integral part of all international payment methods, including documentary credits, letters of credit L/C, documents against payment, and documents against acceptance. The documents called for by a payment type will differ somewhat according to the nature of the goods and the countries of export and import. Some documents, however, such as the International Commercial Invoice ... Read More »

What is e-CMR?: benefits and implementation

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 »

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 »

What is an export business plan?

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 »

Export and Coronavirus: 10 Keys

Olegario Llamazares* The Coronavirus crisis has caused a situation in the international economy unknown until now and of which there is no possible reference, not even the financial crisis of 2008, which, starting from the bankruptcy of Lehman Brothers in the United States, spread in stages to every developed country. By contrast, the Coronavirus, in just three months, has confined ... Read More »

Incoterm DPU: Definition and Obligations of the Parties

The Incoterm DPU appears for the first time in the Incoterms 2020 version. It assumes the same functions and obligations of Incoterms DAT (Delivered At Terminal) which disappears. In the Incoterm DPU the seller delivers the goods unloaded at a port terminal or another place of destination in the buyer´s country. The terminal concept is quite broad and includes both ... Read More »

Incoterms 2020: Main Changes

The new Incoterms 2020 have already been published by the International Chamber of Commerce (ICC) as the body that publishes these rules since 1930. In last decades there has always been a revision of the Incoterms coinciding with the first year of each of them: 1990, 2000, 2010. The latest version is that of Incoterms 2020 which is expected to ... Read More »