General Procedures of Export and Import Transaction.ppt

The students should understand Organizations and Specialists Involved in Export and Import Transaction 1.The procedures of export and import transaction 2. Documents Needed in Export and Import Transaction Research on the Countries or Regions; The exporter should investigate importer political, financial and economic conditions, their policies, laws and regulations, governing foreign trade, foreign exchange control, customs tariffs and commercial practices etc. Research on the Market: production, consumption, price and its trend, the major importing or exporting countries of a particular commodity. ? Research on the Customer The exporter should know what kind of reputation the buyer or importer has, the approximate size of his business, how he pays his accounts and information about his trade activities. ? Enquiry An enquiry is a request for business information, such as price lists, catalogues, samples, and details about the goods or trade terms. Offer and Counter-offer It refers to trading terms put forward by offerors to offerees. ? Acceptance Acceptance is a statement made by or other conduct of the offeree indicating unconditional assent to an offer. A contract is concluded once the offer is accepted. Conclusion of sales Contract:As soon as an offer is accepted, a written sales contract or sales confirmation is usually required to be signed between the buyer and the seller to confirm the sale and stipulate their rights and obligations respectively. Reminding, Examining and Modifying L/C For the safe collection of payment, the seller has to urge the buyer to expedite the opening of L/C. Upon receipt of a letter of credit, the seller must examine it very carefully to make sure that all terms and conditions are stipulated in accordance with the contract. If any discrepancies exist, the seller should contact the buyer immediately for necessary amendments so as to guarantee the smooth execution of the contract. Preparing Go