Importing from China is a great way to cut cost and increase profitability for many businesses. For this reason, trade with China is at its absolute historical peak, and it shows no signs of slowing down. As international trade could be a little bit confusing, it is very important to make sure everything is in order. Read on to learn more about five useful tips to remember when importing from China.
While the bottom line appears to be the total cost, how sure can you be? Whether you’re running a business or not, you know that most industries have their hidden costs, including logistics. It’s a complicated business and you need to ask the right questions to navigate to all the right answers. Here are some of the areas that may leave you on the hook for some extra dough.
The Incoterms or International Commercial Terms, published by the International Chamber of Commerce (ICC) are a series of three-letter trade terms, commonly used in international commercial and/or procurement transactions. In some cases, misunderstanding of this lingo could cost you millions of unexpected dollars. Here is a quick guide to getting you on track with Incoterms.