Mastering Import and Export Management

Thomas Cook, Kelly Raia

• Publisher: AMACOM
• Year: 2017
• ISBN:
  9780814438213
• Edition: 3
• Topic: Economics
• Subtopic: Exports & Imports
• Index: Economics

Look beyond the borders and unlock your company's potential from the East Coast to the West Coast, from the Deep South to the Great Lakes.

According to the US Department of Commerce, more than $1.6 trillion in goods are exported annually to dozens of countries, while nearly $2.4 trillion are imported. What could your company's share in that be?

Filled with step-by-step instructions, cost-effective strategies, and ready-to-use forms, this book walks you through every key area of this lucrative expansion opportunity for your business, from handling logistics to building a global team to complying with post-9/11 security measures to clearly documenting shipments using Incoterms.

In Mastering Import & Export Management, you will also find:

• Strategies for reducing risk and spend in global supply chains
• New documentation, operations, and procedures
• Trade compliance SOPs
• Guidance on managing transportation service providers
• E-commerce in international trade

Completely updated, this all-encompassing, self-directed guide simplifies all the latest regulations and gathers together the best practices in the evolving field of import/export.

You will have all the knowledge and tools required to overcome any challenge and expand their business into lucrative new frontiers.

Appendix

CONTENTS

Glossary

Key Telephone Numbers

Government Resources

General Export Sample with Definitions and Instructions

Airfreight Export (Cash Against Documents)

Airfreight Export (Hazardous Materials)

Airfreight Export (Department of State License)

Truck Export (NAFTA)

Ocean Freight Export (Registration, No SED Required)

Ocean Freight Export (Letter of Credit)

Airfreight Import

Miscellaneous Documents: Export

Miscellaneous Documents: Import

Miscellaneous Documents: Resource Guides

Sample Generic Statement of Work (SOW) Template

The Export Finance Matchmaker (EFM)

Export Management Systems (EMS) and BIS Guidelines Contents

Import Compliance Issues Review and Customs and Border Protection Guidelines

Reasonable Care

Harmonized Tariff Schedule of the United States (HTSUS)

ATA Carnet

Options in Export Finance

Letters of Credit

Comparison Method of Export Payment Options

Examples of Volume Weight vs. Gross Weight

Resources for Export Credit Insurance

Legalization Prices and Requirements

SGS Inspection Countries

International Commercial (INCO) Terms

WTO Agreement on Rules of Origin

WTO Agreement on Anti-Dumping

Correct Way to Complete the Shipper’s Export Declaration Form 7525-V

U.S. Government Contact List

Glossary

Abandonment: Refusing delivery of a shipment that is so badly damaged in transit that it has little or no value.

Acceptance: An international banking instrument known as a time draft or bill of exchange that the drawee has accepted and is unconditionally obligated to pay at maturity.

Ad valorem: A tariff that is calculated based on a percentage of the value of the product.

Advising bank: A bank operating in the exporter’s country that handles letters of credit for a foreign bank by notifying the exporter that the credit has been opened in their favor.

Agency for International Development (AID) shipments: The Agency for International Development is a U.S. governmental agency created to provide relief to developing countries who must purchase products and services via U.S. companies. Specialized export documentation is necessary to complete the transactions.

All-inclusive: Term of sale used to notate “all charges are included.”

Allowance: Typically afforded to a consignee as a “credit” or “deduction” on a specific export transaction.

All-risk cargo insurance: A clause included in marine insurance policies to cover loss and damage from external causes during the course of transit within all the terms and conditions agreed to by the underwriters.

Arbitration: Wording included in export contracts introducing an independent third-party negotiator into the dispute resolution in lieu of litigation.

Arrival notice: Advice to a consignee on inbound freight, sometimes referred to as a pre-alert, that contains details of the shipment arrival schedule and bill of lading data.

“As is”: An international term denoting that the buyer accepts the goods as is. It is a connotation that there may be something wrong with the merchandise, and the seller limits their future potential liability.

Automated Broker Interface (ABI): The electronic transmission and exchange of data between a customhouse broker and Customs and Border Protection (CBP).

Automated Export System (AES): The electronic transmission of the shipper’s export declaration to census, Bureau of Industry and Security (BIS), and Customs and Border Protection (CBP).

Automated Manifest System (AMS): The electronic transmission of a carrier/vessel’s manifest between the carrier/steamship line and Customs and Border Protection (CBP).

Balance of trade: The difference between a country’s total imports and exports. If the exports exceed the imports, a favorable balance of trade, or trade surplus, exists; if not, a trade deficit exists.

Barter: The direct exchange of goods and/or services without the use of money as a medium of exchange and without third-party involvement.

Bill of lading: A document that establishes the terms of a contract between a shipper and a transportation company under which freight is to be moved between specified points for a specified charge. It is usually prepared by the shipper on forms issued by the carrier, and it serves as a document of title, a contract of carriage, and a receipt of goods.

Bond: A form of insurance between two parties obligating a surety to pay against a performance or obligation.

Bonded warehouse: A warehouse authorized by customs authorities for storage of goods on which payment of duties is deferred until the goods are cleared and removed.

Break bulk cargo: Loose cargo that is loaded directly into a conveyance’s hold.

Bretton Woods Conference: A meeting under the auspices of the United Nations at Bretton Woods, New Hampshire, in 1944, that was held to develop some degree of cooperation in matters of international trade and payments and to devise a satisfactory international monetary system to be in operation after World War II. The particular objectives intended were stable exchange rates and convertibility of currencies for the development of multilateral trade. The Bretton Woods Conference established the International Monetary Fund and the World Bank.

Bunker adjustment fee (BAF): Fuel surcharge issued by a steamship line.

Bureau of Industry and Security (BIS): Department of Commerce agency responsible for Export Administration Regulations, formerly known as the Bureau of Industry and Security.

Carnet: A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries without paying duties or posting ...