There is always a risk in business, and there are complex risks in international import and export businesses. This is why risk reduction for imports and exports are so important.
While importing and exporting goods is a common transaction, there are some inherent risks involved. For example, in an unexpected event, like a natural disaster or shipping accident, the shipment could be lost or delayed. This could result in significant financial losses for the importer or exporter, or both. In addition to this, the goods being imported or exported may be subject to additional taxes and tariffs.
The risks associated with importing and exporting goods are compounded if the goods are being shipped internationally. The risk of theft and damage is higher when shipping goods across international borders. While this risk may seem minimal in comparison to other risks associated with importing and exporting goods, it is important to carefully consider all factors involved before making a final decision.
When things are done wrong, they can go wrong (very quickly) and that can be costly. That’s why Import Export Experts offers sophisticated services and training focused on risk reduction for imports and exports.
Import Export Experts will
- Conduct an Import & Export risk assessment to determine the risks associated with Importing and Exporting your product, as well as Importing or Exporting from or to a specific country.
- Conduct a risk assessment to determine what Incoterm is most suitable for your company’s product.
- Draft an International Trade Sales contract, to suit your specific product or service.
- Construct the terms of an Irrevocable Letter of Credit(L/C) to minimize the risk that an Importer or Exporter is willing to take with an International Contract of Sale.
- Take the risk out of your imports and exports, with solutions from Import Export Experts – contact us today!