AboutDavide Andrew Papa Expertise All matters pertaining to assisting Private import export INTERMEDIARIES, AGENTS and BROKERS Regarding International trade Laws and procedures,Letters of credits, as per UCP 600,Presentation, Commissions,International Rules of agency, and Incoterms 2000. All matters pertaining to shipping documents relating to the Import and export of products from one country to another.All matter for buyers and sellers of commodity products relating to the import and export industry.FTN with the introduction of UCP 600 will release the publication "The world is yours"(2004) made specifically for Intermediaries.Current inhouse tra ining manual is "Follow the Yellow Brick Road"(2008) Our advice website is www.ftnexporting.com
Experience FTN exporting founder Davide Papa has been trading for over 20 years- and has dealt with a huge variety of corporate entities including Gold and crude oil suppliers. FTN appeared in a major controversial Newspaper editorial in 1994. FTN Exporting official publication "International Trade and the Successful Intermediary"(ITSI) is about to be released world wide (December 2009) by the prestigious U.K publishing firm Gower's (U.K) and is listed on Amazon.com (Keyword: International Trade Intermediary) ITSI is ostensibly the first uniform intermediary trading doctrine of its kind, and will become the standard intermediary practice world wide in years to come. FTN exporting has created the said doctrine and supporting rules of trade defined as "URPIB" (Uniform Rules and Practice for Intermediaries and Brokers), which will (has?) become the most successful set of private intermediary rules ever created.
Publications The World is Yours and "Follow the Yellow Brick Road" www.ftnexporting.com . Author of "International Trade and the Successful Intermediary " (ITSI) 2009 excepts on http://www.gowerpub.com/default.aspx?page=637&calcTitle=1&title_id=11177&edition_id=12138
Education/Credentials Let school early. Became a master chef . Took up business management and later studied "international Trade at Stott's college Melbourne, Australia.
Question I have read a recent article from a fellow wine importer but I have a slightly different situation...
The vineyard/ producer is in Argentina. One of the owners lives in the Bahamas and has set up a small import business there. I have been offered to distribute in Florida [ where I live ]. With the close proximity and the fact that the wine imported into the Bahamas stays in 'bond' until it is needed - therefore I am not paying any Bahamian duty, only the US DUTY ? Right ? We thought that this plan of me drawing stock from BAH would be a economical move in early days. Is there any other benefits that I can utilize and what sort of license do I need to do this?
Thank you for any input or ideas you may have to make this economical in the initial stages.
Julian
Answer
Dear Julian
This site is for intermediaries- that is; a Buyer of goods buying from a Supplier and reselling to their own end buyer as seller , using the funds of the end buyer-in a legally defined way to so - In where title of the goods and not possession of goods are applied. Intermediaires buy and sell title of goods for deliverry to their end buyer directly-who obtains possession of such when the ship finally arrives-
You are defining a process in where you are physically BUYING goods and taking possession of goods - then reslling such goods for profit at retail or wholesale prices-
Big difference- You have to find out statutory business requirement in regards to setting up an everyday business as an importer and wholsaler-no big deal a simple business name should do-
Everything mentioned about wines in the past on this site applies as matters of procedures- except you are paying for the goods and bear direct responsibility of such as importer -You obtian possession and title of goods - You take delivery of goods from the ship when it arrives - the goods are now yours- You pay import fees, taxes and custom duties , unless you have made arragement for bonding of such-(which will cost money)in where import tarrifs are allowed to be paid when goods are taken from the customs bonded warehouse- Import tarrifs are designed to protect local farmers from cheap import- thus importing wines into California is going to arrtact a high import custom charge.
You take the goods from boned warehouse as needed to your retail or wholesale outlet-
There is a lot more to know , but its a less complex situation than acting as a intermediary-
Note: Do your maths carefully- expect that if a bottle of wime cost you 1.20 EXW , then when all charges, freight, and warehousing expense are accounted for the wine will end up costing you $4,5,6 dollar per bottle net- This rate may come down if you ordered lets say 50 FCL - but not for one FCL-
Regards
Davide Papa
www.ftnx.9f.com
www.ftnexporting.com
