THE INTERNATIONAL TRADE TRANSACTION

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Presentation transcript:

THE INTERNATIONAL TRADE TRANSACTION

THE INTERNATIONAL TRADE TRANSACTION THE BASIC MODEL 1. Negotiate Terms of Sale 2. Issue Purchase Order 3. Ship Product to Importer 4. Send Documents 5. Clear Customs & Deliver Product 6. Make Payment

THE INTERNATIONAL TRADE TRANSACTION 1. NEGOTIATE TERMS OF SALE Final Agreement Includes price - packaging quality - insurance quantity time & place of delivery payment method inspections

THE INTERNATIONAL TRADE TRANSACTION ADDITIONAL CONTRACT PROVISIONS 2. ISSUE PURCHASE ORDER 3. SEND DOCUMENTS: SHIPPING AND DELIVERY INSTRUCTIONS: Shipping Deadline Excusable Inexcusable

THE INTERNATIONAL TRADE TRANSACTION DELIVERY INSTRUCTIONS INCOTERMS 6 GROUPS OF INCOTERMS EX POINT OF ORIGIN ex works ex factory ex mill ex warehouse SELLER MUST BUYER MUST

INTERNATIONAL TRADE TRANSACTION F.O.B. (free on board) ownership transfer evidenced by a clean bill of lading SELLER MUST: BUYER MUST:

INTERNATIONAL TRADE TRANSACTION F.A.S.(free alongside) seller’s obligations are fulfilled when goods place alongside ship; buyer is required to clear goods for export. SELLER MUST: BUYER MUST:

INTERNATIONAL TRADE TRANSACTION C & F (cost & freight) seller’s price includes cost of transport but NOT insurance SELLER MUST: BUYER MUST:

INTERNATIONAL TRADE TRANSACTION C.I.F. ( Cost, Insurance, & Freight) SELLER MUST: BUYER MUST: EX DOCK

INTERNATIONAL TRADE TRANSACTION PACKAGING FOR EXPORT PURPOSE UNIT LOAD SYSTEM SHIPPING MARKS

INTERNATIONAL TRADE TRANSACTION EXPORT SHIPPING DOCUMENTS DOCUMENTATION Two Categories SHIPPER’S EXPORT DECLARATION EXPORT LICENSE MARINE INSURANCE POLICY CERTIFICATE OF ORIGIN CONSULAR INVOICES

INTERNATIONAL TRADE TRANSACTION BILLS OF LADING FUNCTIONS TYPES Straight Order other