Author: Onur Akarca

What is a Letter of Credit (L/C)?

Paying internationally might be complicated, because the importer is concerned they will lose their money, and the seller is concerned they will not get paid for the product they are shipping. Each party must agree to a payment method before the order is placed. A Letter of Credit is one of the most common ways to pay internationally. A Letter of Credit is a formal, binding legal agreement between an importer and foreign seller. A Letter of Credit is one of the most secure methods of payment between the seller and the buyer. It can balance the risk for both...

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Why It Is Important to to have the Correct Tariff Classification on goods you are Importing

It is important to have the Correct Tariff Classification on goods. All goods imported into the USA are subject to duties. All import items are required to be classified in accordance with the harmonized schedule of the United States, and each tariff number has a corresponding rate of duty. Rates of duty for imported merchandise may also vary depending of the country of origin. The actual duty rates of the items you import may be different from your expectations – this is why the correct classification is important. Based on classification of the goods you are importing, US customs determines...

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The Benefits for an Importer to Work with a Logistic Company

International transportation can be a complex mode of serious shipping or it can be a simple way of moving the cargo from point A to point B. In the end, transportation is to bring your product from one end to the other in the most cost efficient way and in a timely manner. Most companies prefer to deal with logistic companies who can offer combinations of shipping methods and assign a freight forwarder for international shipments. Every industry has different expectations from a freight forwarder. Based on industry needs the expectations of a freight forwarder might change. For some...

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Project Cargo Handling

In 2014, a client of ours asked me how they could possibly move a 100 metric ton, almost 5 meter high power generation unit from their manufacturing facility to a remote inland destination in Mexico. We have standard 20, 40 foot containers as well as high cube ones (which are a little taller than others) as well as open tops and flat containers. However, I knew that none of this equipment would be the right equipment for this kind of gigantic unit. I replied to my client and said this is something we have to work in more detail with our...

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Do I need a license to import?

You are trying to import your product into the United States, when suddenly you are told Sorry, your import entry has been denied by U.S Customs. You are not approved to import this product! Perplexed  by this news, you ask why not…… U.S. Customs and Border Protection (CBP) does not require any license to import; however you might need a permit from other government agencies. The United States allows any individual  or any company to import. You can import with a federal tax id number or a social security number but certain products may require an additional license. Additional...

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