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Mr. Ramzi Bouchrit (RB JV Group) has provided us with useful information based on the different transactions he made with his business partners in the field of the International Trade aka import export. Welcome to “The Export Series” to learn how to export your goods overseas!
In this step of the “Export Series“, we will cover how the exporters secure their payments.
When the export transaction is successful?
Any International trade transaction is considered successful only once the sellers export the goods overseas & receive the money on time and the full amount, in addition the importer receives the needed goods.
Either party here is satisfied, so how can we reach this?
1- You need to master very well the payment terms available such as :
- Letter of credit, and
- Cash against documents, and
- Deposits, Etc.
- Since each International trade transaction has its characteristics.
2- Please consider to learn the international commercial terms, also known as incoterms. Since they have an important role in any international trade transaction related to when you as an exporter will receive your money on time.
Any additional words of advice?
The above steps cover the technical side of the export transaction itself, there are a few other important tasks you as an exporter need to do first:
- The basic due diligence: This can be a simple site visit to the importer premises, or you may hire some expert entity to do it on your behalf.
- You can do a deep due diligence inquiry using the services of professional entities (please click here to connect you with the suitable solution), that can provide you the needed data about your potential partner to help you decide to either carry on the deal or not.
- Please check online about the financial situation of your partner.
- Please consult first your financial advisor to help you choose the best route.
To know how to do it right, you can get in touch with us using the below contact details:
Email: export@ramzisite.info
Phone: +1 424 208 0297
Website: https://ramzisite.info
To get more real life examples of successful Export transactions in a step by step manner, please visit our Amazon Book (Mike Wilson & Ramzi Bouchrit), 7 Steps to Export Success: https://amazon.com/dp/B0B35HG9PC
