First of all, a certificate of origin document is an important document used in global trade to confirm the country of origin of where the goods have actually been manufactured or processed. So, the document will be used when the country of export and the country of import have a current Free Trade Agreement in place (see bottom of article). Read More »

Discover the crucial differences between markup and profit margin. Learn how to calculate each, understand their impacts on pricing, and apply effective strategies to ensure long-term profitability. Clear explanations and practical formulas will help you avoid pricing errors and communicate effectively with your sales team. Make informed decisions for your business success. Read More »

Comparing quotations from suppliers is essential in global trade to manage costs and ensure smooth operations. Quotations detail prices, delivery times, and payment methods. By carefully comparing these quotes, businesses can identify the best deals, control costs, and avoid potential issues. This process helps optimize landed costs and supports informed decision-making for long-term profitability. Read More »

If you’re involved in Global Trade you would be aware that importers and exporters agree to sell goods on agreed payment terms that usually involve a SWIFT Telegraphic Transfer, or T/T payment. Before products can be exported around the world the buyer and seller will agree on the terms of trade (including Incoterms®) then include all details in Purchase Orders, Proforma Invoices and Sales Contracts that are countersigned by both parties. Read More »

International shipping affects the landed cost of a product, including transportation fees, customs duties, and taxes. Strategic shipping decisions can help manage and reduce these costs. This guide offers practical tips to save on international shipping, like negotiating lower rates, optimizing packaging, and choosing cost-effective carriers and methods. Read More »

Ocean freight is a method of shipping goods internationally by sea, utilizing specialized ships. It's cost-effective for large or heavy shipments. The process includes packing, loading onto cargo ships, ocean transit, unloading at the destination port, and customs clearance. Different services like FCL, LCL, and Ro-Ro cater to various needs. Ocean freight is ideal for budget-conscious shipments and those that aren't time-sensitive. Read More »

Full Truckload (FTL) shipping is a top choice for businesses moving large quantities of goods efficiently and affordably. This method reserves an entire truck for one customer, ensuring faster delivery, minimal handling, and enhanced security. Learn about FTL shipping's advantages, how it works, and key factors affecting costs to improve your logistics and boost profitability. Read More »

To grow your import business, understand landed costs, profit margins, and operating costs. Create a solid plan for selling products in your market. Calculate landed costs, set profitable selling prices, and consider operating expenses like storage and working capital. Plan sales and marketing strategies, considering market risks and costs. Invest in efficient software to streamline processes. A comprehensive plan, backed by research and professional advice, is key to success. Read More »

A Request for Quotation (RFQ) is crucial in the import-export process, helping streamline sourcing, quoting, and ordering. This guide explains what an RFQ is, its advantages, and the detailed steps involved in the RFQ process. Learn how to prepare an effective RFQ document, ensure transparent and competitive supplier selection, and understand the differences between RFQs and RFPs. Read More »

Importers and exporters involved in global trade connect to negotiate and agree on the terms for goods to be sold. Buyers and sellers will agree to all product details, pricing, Incoterms®, method of shipment, delivery details and the agreed payment terms and payment methods. These details will be represented in Purchase Orders, Proforma Invoices and Sales Contracts that are countersigned by both parties. Read More »