What is importing and exporting? Import and Export are terms used in international trade. When goods and products are sold to an international outside of the country destination then they are being exported. When products are being brought into a country from an overseas source outside the country, then these goods are being imported.
Who is involved in import export process? There are many businesses and agencies that are involved in importing and exporting trade. Here is a short list of some:
- Exporters and/or Importers: Sometimes the manufacturing company have an export and import department that handles its international trade operations and sometimes these transactions are outsourced to intermediaries such as import export management companies.
- Freight Forwarders and Shippers: Freight forwarders are companies that take care of the process of moving goods from their origin to their destinations. Freight forwarders are one of the biggest most useful tools to those involved in importing and exporting goods. They are usually aware of import and export rules, regulations, and needed documents and licenses. They provide importers and exporters with air and ocean transportation estimates based on provided volume and weight of goods. Beside freight cost, freight forwarders provide an estimate for ports charges, consular fees, documentation costs, insurance costs, etc. They are extremely useful and will simplify your export import operations. They can arrange to receive/pick your goods from multiple sources, package them, consolidate them into one shipment and provide you and your bank with proof of shipping.
- letter of credit Bank services: Letters of Credit is a common method used to pay and receive payments for import export transactions. Based on L/C, a payment is made when goods have been sent to buyer. For more information on Letters of Credit see
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