Category: Importing & Exporting Basics
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Letters of credit
Trading internationally can involve risks. Exporters run the risk of buyers failing to pay for goods, while importers may risk paying but never receiving anything. Because of the distances involved, it may be difficult to resolve any disputes. One way of reducing the risks is to use a letter of credit. This can offer a…
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International Commercial Contracts – Incoterms
This guide explains the basics principles of International Commercial Terms (Incoterms), and how traders can use them in buyer or seller contracts to make clear who is responsible for the goods at each point of the transport process. The guide also explains the benefits of using Incoterms and what each Incoterm means for the buyer…
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Importing and exporting by post
All goods arriving into the UK by post from beyond the European Union (EU) must be declared to HM Revenue & Customs. The sender must attach a completed declaration form CN22 or CN23. Goods worth more than £2,000 need a full Single Administrative Document declaration. When you receive goods from overseas, you become liable for…
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International trade paperwork: the basics
When trading internationally the right paperwork is crucial. Missing or inaccurate documents can increase risks, lead to delays and extra costs, or even prevent a deal from being completed. Whether you are importing or exporting, you need to understand what paperwork is required. Even if you use a freight forwarder or an agent, it’s still…
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Government help for exporters
UK businesses export over £17 billion of goods and services every month. Tapping into this lucrative source of revenue can bring a range of benefits. Exporting can help you extend your market, increase turnover, improve your business’ reputation and avoid an over dependence on UK trade. However, exporting is not without its risks. Language and…