| Subject | Date Asked |
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| Standard commercial practice with respect to shipped goods | 10/1/2009 |
Q: In standard commercial practice, when does a purchaser of shipped goods actually take ownership? Is ...
A: The shipping terms are goverened by "INCOTERMS" which are defined by the Internation Chamber of ...
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| Terms of sales | 5/7/2009 |
Q: I have an opportunity to sell some equipment in South Africa. I would like to have 50% down before ...
A: I think I'd simplify the terms a little so it would be 50% due on placement of order 50% due prior ...
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| DA or DP | 4/27/2009 |
Q: Sir, My question is " what is the difference in between payment terms as DA and DP. Which one is ...
A: There are a number of points to consider. Not the least being the payment types available. Here's a ...
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| How can I secure my funds when importing from Asia? | 4/8/2009 |
Q: I want buy a fragile piece of printing equipment that's in Indonesia and would like to know how I ...
A: There are a number of points to consider. Not the least being the payment types available. Here's a ...
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| escrow account | 4/2/2009 |
Q: We are selling some large used manufacturing equipment from USA to Toronto, ON. THe buyer is ...
A: There are a number of points to consider. Not the least being the payment types available. Here's a ...
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| L/C Issue | 3/30/2009 |
Q: I have a client who is in process of opening L/C for 2 used Cranes. It is now 2 months he said L/C ...
A: Yes, an amendment to the "old" L/C could be done but he'd have to amend the L/C for the complete ...
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| international shipping and fob | 1/15/2009 |
Q: i'm considering shipping a huge order overseas via fedex courier service. couldn't' i just charge ...
A: That one I can answer in a straight forward way, if not a little long. First one has to understand ...
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| TT payment | 11/20/2008 |
Q: I've set up A TT payment with my bank. How nany days does in take to get to the beneficery? Thanks
A: That depends on the country of origin, country destination, currency and the instructions for the ...
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| simple query | 11/14/2008 |
Q: Today i had a meeting with my boss due to the current recession when the US bank doesnt want to ...
A: There are a number of payment types available. Here's a short list. A letter of Credit (LC) is an ...
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| us money to uk money | 7/17/2008 |
Q: if i wanted to purchase merchandise in the uk and if i wanted to go to my bank and change my us ...
A: Technically it certainly possible. But there are many questions that need to be answered before you ...
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| buying brand clothing from china | 3/21/2008 |
Q: i want to buy brand clothing from china and resell it in my clothes shop in ireland is this ...
A: Name Brand Clothing needs to be bought through the name brand company or a licensed wholesaler, if ...
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| Export Funds request via TT | 3/18/2008 |
Q: We would like to export the goods under payment terms " Document through Bank , TT Payment to be ...
A: Yes this is possible but first you have to choose the best payment terms for you. Naturally your ...
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| exporting & importing goods | 1/16/2008 |
Q: I'm trying to sell copper ore and I would like to know what the following terms mean.CIF;FOB;LC;bill ...
A: That one I can answer in a straight forward but very long way. The shipping terms are goverened by ...
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| safe payment options | 9/15/2007 |
Q: regarding the last question you answered concerning remittance TT. I would like to know about a safe ...
A: you have several options in terms of trade finance. I'll discuss a few of them here. Based on my ...
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| L/Cs | 9/4/2007 |
Q: We have a SME in Dubai, currently we have a nice business of appx. 30 Million USD turnover, our nett ...
A: The easiest path to take is straight to your current bank in Dubai. If they are not able to assist ...
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| about L/Cs | 8/2/2007 |
Q: We are import/export agent. We have a buyer in USA. Can we invoice our client in USA to open ...
A: Yes, but either side's bank may not agree to cooperate. A lot of banks do not like complex L/C ...
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| Trade Finance S/W company | 7/24/2007 |
Q: Sir, I come to know about you while searching thro google. I am interested in keep in touch with ...
A: I don't have a lot of experience with multiple trade finance systems but yes, Surecomp has a ...
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| RTGS | 7/24/2007 |
Q: Does every country follow the SWIFT message standards for RTGS or is there any other country which ...
A: An interesting question. The vast majority of RTGS systems do indeed use SWIFT as thier standard. ...
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| paying for goods in Hong Kong/China | 6/2/2007 |
Q: have never done this before so not sure what safety is the goods are in China and Hong Kong the ...
A: A bank transfer, also called a (telegraphic transfer (T/T), is only as safe as the seller. Do you ...
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| Re: Is Beneficiary shall responsible ? | 5/25/2007 |
Q: My name is Desmond and I'm the Merchandize Manager for our company in Malaysia call LBP WORLDWIDE ...
A: The answer is short as I do not want to obscure it in detail. If you are the beneficiary of the ...
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| Preadvice | 4/27/2007 |
Q: I am currently working on a Mazut deal and have hit a stumbling block regarding Preadvice. The ...
A: The short answer is no. It's probably better. The bank is simply not willing to risk its ...
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| payment modes | 4/27/2007 |
Q: Asalam u alikum It is easy for you now to answer this time Inshallah.What is the payment process a ...
A: Ibnemansoor, you have several options in terms of trade finance. I'll discuss a few of them here. ...
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| safest payments terms | 1/8/2007 |
Q: what is the best and safest way to make a transaction.i would like to start importing , but would ...
A: It's an interesting question that I'm ask quite often. The answer depends on several factors. The ...
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| Historical Inflation Rates for Bogota, Columbia | 11/4/2006 |
Q: Richard, I need to find the monthly inflation rates for Bogoata, Columbia, from January 2001 through ...
A: I certainly can help you with that. For the most part a country's central bank will have those ...
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| Transferable LC Pre-Advice | 10/26/2006 |
Q: We have negotiated a contract under which we, as the trader, will be receiving a transferable ...
A: The short answer is no. Your bank is simply not willing to risk its reputation on a maybe. Before it ...
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| Need some career advice | 10/10/2006 |
Q: Barr I am writing to you in search for career advice. I have read your profile and it looks really ...
A: I'm flatered that you look at me as an inspiration. I'm not sure I'm actually worthy of that though. ...
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| Payment overseas | 9/25/2006 |
Q: Since now you know that I am starting this business and I am also trying to protect my money, what ...
A: The internet is a wonderful tool. I always start by searching through the web. Get as much ...
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| Payment overseas | 9/20/2006 |
Q: I am trying to establish a business purchasing goods from companies in China and the UK. I have ...
A: The difficulty you have to face is in your very last sentence: "first purchase would be around 2 to ...
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| Receiving payment / protecting your account info | 9/8/2006 |
Q: I have a question about using T/T payment type vs. a L/C. You can use a T/T as an individual and are ...
A: With a T/T, you do not have to give your account number but it helps. You must give your bank and ...
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| being registered and importing | 9/7/2006 |
Q: you could be a God sent. My freind and I have come up with a needed product which many people are ...
A: It seems the question is asked for one of two reasons. Either the company has a different price for ...
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| order financing | 8/30/2006 |
Q: Barr, I am currently considering a transferable letter of credit for a large order from a customer ...
A: According to the opinion of the International Chamber of Commerce, they say "When a letter of credit ...
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| importing electronics from china | 8/22/2006 |
Q: I have a small electronics shop and have found a supplier in China for small MP3 players. WHat is ...
A: If they're really samples, the best way is simply by FedEx or UPS. Any and all documentation should ...
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| overseas purchase through attorney | 8/20/2006 |
Q: Barr, I was offered a deal by my supplier in which an attorney retained by him acts as a buying ...
A: Yes, the method of using an attorney (& escrow account) is feasable and acceptable for overseas ...
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| Importing from Italy | 8/11/2006 |
Q: I'm a Canadian resident and on my last trip in Italy I found sandals that I would like to import and ...
A: You've located a product you want to trade in. Have you located the manufacturer or simply the ...
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| importing into the u.s | 8/9/2006 |
Q: sorry I'll be more specific this time. Our plan is to go to Africa (Ethiopia) and bring a couple of ...
A: Living in Israel. I'm not an expert on the U.S. import regulations. However if you click over to the ...
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| Export / Import initials | 8/2/2006 |
Q: What does FCO stand for ?. It is a document issed by a Seller. Many Thanks for explination of BCL ...
A: FCO is generally a Full Corporate Offer. Sample below but as the previous samples, this is ONLY for ...
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| Explanation of initials | 8/2/2006 |
Q: What do the initials BCL and LOI stand for in the Import / Export market ?.
A: The short answer is that a BCL is short for "Bank Comfort Letter", while a LOI is a "Letter of ...
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| Importing from China | 7/4/2006 |
Q: We want to buy items from China. We found a manufacturer and he can produce what we need. Once we ...
A: The price you're being quoted is NOT for 9 boxes but rather for a 20 foot container. (containers ...
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| re: Payments and collections | 6/7/2006 |
Q: I have what I think may be an unusual situation. I am a business consultant and last year set up a ...
A: Yes, I have an Idea. Remember the old proverb "If it's too good to be true, it probably is"? The ...
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| Doubt | 11/9/2005 |
Q: What are the points that has to be pondered while receiving or verifying a Letter Of Credit? Urs ...
A: That's an excellent question. Starting with the obvious and working our way to the hidden... Is the ...
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| Protecting my sources | 10/14/2005 |
Q: I'm located in Canada and looking for ways to ship directly from my supplier in China to my ...
A: A very interesting question. There's not a 100% fool proof guarenteed way to do what you want but if ...
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| Importing into the UK | 8/29/2005 |
Q: The product(s) are manufactured in India. They are all herbal products. The plan is to manufacture ...
A: You've got a bit of homework ahead of you but I believe by looking at these 2 links, you'll have a ...
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| Importing into the UK | 8/29/2005 |
Q: I have a product that has been registered in Portugal (EU). Would it then be possible to import the ...
A: I'm sorry I'm not a U.K. customs expert but I'd like to help. You didn't provide near enough ...
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| information on import/export | 8/20/2005 |
Q: Barr, I am considering a possible career change and was interested in the import export business. ...
A: There are some mighty big questions you're asking. If you live in the USA and are bring goods into ...
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| Standby L/C | 3/14/2005 |
Q: i live in the USA. I am into exporting motorcyles from uSA to worldwide. I just got a contract worth ...
A: Unfortunately, American banks are really behind the times in Trade Finance. They're so advanved in ...
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| Canadian money order from U.S. | 2/16/2005 |
Q: Up here in Canada there is a band selling their DVD on their website, one of the payment options is ...
A: Get the group (or the business rather) to accept payment in U.S. Dollars, which is really easy for ...
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| Tips- Business in China | 2/5/2005 |
Q: Barr, Do you have any general tips to deal with communication issues when working with overseas ...
A: That one is very clear as is the answer. Make sure everything important is documented in writing. ...
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| Customs Broker | 1/26/2005 |
Q: I have a master's degree in Mechanical Engineering and I am sort of sick of the engineering jobs. ...
A: What is it you think a Customs broker does? Perhaps your thinking on the lines of an exporter or ...
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| import/export terminology... | 10/13/2004 |
Q: would you happen to know where I can find out about the terminology of importing/exporting. For ...
A: That one I can answer in a straight forward way. The shipping terms are goverened by "INCOTERMS" ...
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| china | 8/2/2004 |
Q: Good Morning, i'm thinking/wanting to import goods from china, what kind of bak accounts do i need, ...
A: What type of bank account you need depends on where you live. The USa for instance doesn't need a ...
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| Making sure the goods are in the box | 4/12/2004 |
Q: I'm having a couple of products made in China. FEDEX says the best way to pay for these is with a ...
A: That depends on valuable the contents are and how much you're willing to pay for it. You can always ...
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| How to know if a company that your placing a order with and giving money to exists? | 3/15/2004 |
Q: I'm not sure if this is your area or not, but I hope so. I'm trying to choose an overseas ...
A: You could ask that a "Letter of Credit" be used if you don't trust the company. It'll reduce the ...
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| Importing process | 3/14/2004 |
Q: I'm starting my own business up in the entertainment electronics field. In essence, I will be the ...
A: Simply put "Bank Swift Cash" means in U.S. english = Wire the money U.K. english = Cable the money ...
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| Canadian Brokers | 11/26/2003 |
Q: I'm located in the US, selling baby products made in China. I'm speaking with a Canadian company ...
A: You're right, this isn't my expertise but I'd like to help. I think I can at least get you going in ...
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