High Profit Import And Export Business Concept
No matter what products you use for trading, you can find better ideas and seek your import and export business. Here, we share some simple tips to let customers’ business reach the next level with less effort and less investment.
Select appropriate import and export procurement agents.
If you are an import, you must find a direct supplier or manufacturer. In this way, you can obtain a large number of products through discount. You can also visit the supplier’s warehouse if possible to confirm whether the product meets the customer’s requirements. Or you can request to send POP(Product Certificate) through the Bank’s Letter of Comfort(BCL MT 799).
Determine payment terms
Before dealing with suppliers, both parties should discuss and decide the payment terms for the goods supplied. When you deal with overseas suppliers, you should determine the payment terms to ensure that your trade transactions are not affected by all transaction risks. This includes freight, currency changes and the inability of suppliers to ship goods after receiving payment. In today’s trade market, importers use letters of credit as payment terms. Because the letter of credit provides guarantee for the buyer and supplier.
The letter of credit can not only protect your import and export transactions from trade risks, but also help the importer import goods from the supplier at zero cost. By using the bill of lading letter of credit as the payment condition, the buyer’s bank said to the supplier that once the goods are transported to the destination port, the buyer will pay for the goods. Guarantee:
Carry the required documents
Quality certificate, health examination certificate Not to mention keeping all necessary documents, such as bills of lading and. In addition, imported goods must be insured for the goods. The accident is shipping(sea, land or air) As there is no predictable event, in case of an accident, it can be easily guaranteed by insuring all goods.
Is the import and export business profitable?
Of course, yes! Import and export are profitable, but you should not invest all your eggs in one basket. To operate your import and export business, you can obtain trade financing support from your bank for issuing import letters of credit or standby letters of credit. Therefore, you do not have to invest your operating capital in a single transaction. Bank’s trade capital raising If you do not have enough bank loans to obtain support, you can get help from trade financing providers of private institutions. They borrowed money from banks to support import and export transactions instead of companies.
If you just enter the import and export market, but seriously study “global trade and development”; trade finance, please continue to pay attention to us and understand the latest market trends!
