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How to monitor the whole International Trade transaction to be sure it goes smoothly.
Mr. Ramzi Bouchrit (RB JV Group) has provided us with helpful information based on the different transactions he made with his business partners in the field of the International Trade aka import export. “The Export Series”.
In this step of “The Export Series” we will show you how to make sure your export transaction goes as planned.
– You as an exporter, you receive your money on time from your buyer.
– The buyer receives the goods as requested and renews the contract.
What is the main purpose of any international trade transaction?
The main goal of the international trade is the satisfaction of all parties included, ie: the exporter and the importer.
Therefore, the main reasons why many deals in the International trade fail:
- The lack of planning and communication between both parties,
- And not following the planned milestones. If any plan is made.
Many exporters look at the deal from their own angle, forgetting that in the middle there are many other players that can cause the failure, such as:
- The port,
- The shipping companies,
- And most importantly the communication between all parties included in the deal.
Hence the smart business owner should have in place a team of experts to:
- Plan the whole import export transaction, and
- Put the milestones with expected dates, and
- The way of payments, and
- When the money will arrive and how, Etc.
Once the plan of action of the international trade transaction is in place in details, that’s the perfect moment where the exporter and the importer should sign the agreement or the contract to have a written reference.
In some deals we have concluded, we simply kept on updating both parties about the milestones only via emails and every party stuck to it since they know that their benefits depend on this.
The exporter can easily, if they’d like to work using their own means, to hire the services of:
- Some reputable lawyers,
- International due diligence entity, that are based in the country of the importer to be the representatives when the goods are unloaded. We’ve seen this in many previous cases we brokered.
- If they do have their own team on ground it would be better.
The point here is: you need to have a trustworthy entity at least one to visually confirm that the goods reached their destination safely.
Conclusion & words of advice:
To know how to do the international trade transactions the right way, 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
