On: September 2, 2020 By: David Noah
HS codes. HTS codes. Schedule B codes. It's important to properly classify your products for import and export. But product classification numbers can change. Do you know where to go for an update?
On: August 24, 2020 By: Catherine J. Petersen
While Schedule B codes used for U.S. exports are 10-digits long, only the first six digits are the same as in the country of import. Each country is allowed to add up to four additional digits to further delineate the product. So how many digits do I include on my commercial invoice?
On: August 3, 2020 By: Roy Becker
When negotiating an international sale, one of the first questions you need to answer is: How will I get paid? In order to answer that question, you'll need to answer several more: When will I get paid—before or after delivery? What kind of guarantee do I get? In what currency will I be paid?
On: July 27, 2020 By: Joseph A. Robinson
American Chambers of Commerce, traditionally referred to as AmChams, advance the interests of American overseas businesses through advocacy, information, networking and business support services. There are more than 100 AmChams associated with the U.S. Chamber of Commerce across the globe.
On: July 8, 2020 By: David Noah
Although the six-digit Harmonized System (HS) number is a subset of the 10-digit Schedule B code, it's important to understand the difference. While you should include the HS code on some of your export documents, you are required to report the Schedule B code with your EEI filings.
On: June 8, 2020 By: Roy Becker
Many U.S. importers, exporters and bankers don't understand Incoterms 2020 rules that are the standard sales terms used in international trade. As I demonstrate in this article, the danger of incorrectly using terms like Ex Works (EXW) and Free on Board (FOB) can be considerable.
On: May 18, 2020 By: Joseph A. Robinson
It's not unusual for an international transaction to include a middle man or woman who brought the buyer and seller together. But once this connection is made, this middle person is at risk of being cut out of future deals. Here's what you can do to protect yourself.
On: April 8, 2020 By: David Noah
Too often, U.S. companies involved in importing and exporting think only in terms of U.S. dollars. But doing so increases your risks while limiting your profitability. Here are four reasons you should explore currency exchange services to help protect your international transactions.
On: January 13, 2020 By: Arnesh Roy
A Foreign Trade Zone (FTZ) is a designated areas within the United States that is legally outside of the customs territory of the United States. Goods that reside within an established FTZ haven’t yet cleared customs allowing companies to save money and make their products more competitive.
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