The importance of import and export

The importance of import and export is that they are complementary processes, and they aren’t just companies but also important to individual consumers.  They can benefit from some products or components that are not locally produced but available for online purchase, and help national economies grow and expand continuously.

The importance of importing is therefore :-

1. Adding new products to the market 
2. Cost reduction 
3. Increase 
4. Helps Small and Medium-Sized Enterprises grow and expand through access to larger markets abroad

The importance of exporting is therefore:-

1.  Increase potential sales 
2. Increase profits 
3. Increase profits of medium- and large-scale companies.

 

Guidance & Instructions of Export and import process To be completed

The field of import and export is one of the most important areas of today, as it is the sale or purchase of products between companies outside the country’s borders, and there are some Guidance & Instructions of Export and import process To be completed, the most important of which are:-

1. Ensure the quality of the product by requesting samples and presenting them to the concerned authorities, to be checked and matched with the import conditions and rules, in order to avoid any fees or fines from customs.
2. Make sure the correctness of the company data being deal with it through its Governmental agencies in addition to verifying the validity of its information 
3. The company that you deal with doesn’t Manipulate By quality standards and if you have doubt about its truthfulness you can hire a quality inspection company so that it is not rejected by customs in addition to  the imposition of fines. 
4. The importance of mentioning the source of the origin country such as “Made in Egypt ” in order to not be rejected.
5. Dealing in small quantities to implement quickly and Change immediately, reduce funding costs and improve financial  management.
6.  Ensure that the shipment papers are complete and documented and it is best to contract with a reliable customs clearance company, in order to clear your papers and avoid any fines such as container delay fees.
7.  Good study of the product and the market and full knowledge of customs rules,   and the possibility of relying on one of the companies that provide studies in the framework in order to achieve more success

 

Trade terms used in import and export

 

• Bill of loading 

 

It is a transfer contract between the exporter and the carrier، It     shows the port of shipment, the port of arrival, the means of transport, freight

 

• Airway Bill

 

It is the carrier’s confirmation of receipt and readiness to transport the goods.

 

• Analysis certificate 

 

It is a certificate issued by specialized authorities, and is used with materials that need analysis to know their components and to ascertain their quality.

 

• Brand name 

Are symbols that used to differentiate product from whats they look like, and that mark has a legal protection applied internally and externally   

• Baking list

  Is a document from an exporter in which both (shipping weight,   product specification, name of importer and commercial invoice ). 

• Certificate of surveillance or inspection 

It is a certificate issued by specialized companies in which good are assigned and inspected prior to shipment to confirm the specifications are right 

• Clearance paper 

It is a paper delivered to the captain of the ship, indicating the right to leave after confirming that the ship made its obligation

• Certificate of weight 

It is a document that show the true weight of the commodity that depend on weight such as iron product  

• Free on board a ship 

This term mean that the seller delivered the goods to the shipper at the loading port and does not include the cost of shipping  

• Cost and freight

This term mean that the seller delivered the buyer his goods at the port for arrival and the buyer paid all freight costs  

• Cost freight and insurance(CIF)

It Is Required that the price includes the cost of goods, insurance and shipping costs up to the point of arrival of the goods to the agreed importing country

• Telegraphic transfer

This term means transferring a down payment from the seller, and the rest is paid when viewing the required documents and requirement , and is one of the most preferred methods for the majority of traders, as it is more secure for them.

• Letter of credit

This term mean  how banks and each other interact 

•   Cash against documents

This term mean that paying for documents