I am sure that some of you will agree there are times that international shipping can be a hassle. Below we have provided some tips that will help when importing goods.
1) Learn the lingo: INCOTERMS such as DAP, DDP, Ex Works, Free Onboard Vessel... all can positively or negatively impact you.
2) Know the rules: Learn the import dos and don'ts, and requirements for wherever you source goods. A good source is Trade Automation Services (TAS) database will
help you get to know all the latest preferential trade agreements between the U.S. and the rest of the world. InXpress can assist in getting you access to the service.
3) Classify your goods properly: Not classifying your goods correctly could cost you money. Assign Harmonized Tariff (HS) Codes to your goods. This will ensure your shipment complies with each country's import and export regulations.
4) Know your seller: Learn about your seller before money changes hands. Access real-time information on all individuals, companies and countries subject to import and export. Shipper and receiver details can be validated against denied party lists maintained by governments and international authorities.
5) Get smart on quotas: ls it absolute or tariff rate? Knowing that is a good first step. Make sure you understand estimated landed costs (duties, taxes) and other customs-related charges prior to shipping. It enables you to make better sourcing and selling decisions.
6) Document everything and keep it: Proper records ensure simpler interactions with customs and protection if a seller questions the agreement. Make sure you create and keep the documents required for international trade, logistics. and customs transactions.
7) Don't underestimate the value of landed costs: Compare landed costs for a number of origins and destinations with the Comparative Services. InXpress can help with providing access to online resources to help facilitate a comparison.
8) Have your purchase contract at your fingertips: Knowing your agreement, warranties, dispute resolution procedures etc., will help you make quick decisions when needed.
9) Find out about licensing requirements. if any…: Many countries do not have licensing requirements for most products. However, if you are importing pharmaceuticals, certain food items, and certain articles of apparel, you might need a license.
10) Know the restrictions: Embargoes are policies set by governments to control trade due to political, security, or economic conditions. Once you have classified the goods to be imported (or shipped to a third country), check with the U.S. Government to see if there are any trade restrictions for the desired countries or goods.
InXpress Midwest is positioned to assist with your shipping needs. Please contact Ron Argo / 636-812-2415 / email.