Welcome on the International Business Community

Uniform Rules for Collections, URC 522

info@icom7.com [Jacques Guiffo Temgo] — Fri, 17 Apr 2009 22:47:55 +0200

URC 522

The URC 522 are the Uniform Rules for Collections. URC 522 came into effect on 01 January 1996.

Uniform Rules For Collection (URC 522)

Subhead

The ICC Uniform Rules for Collections were first published by the ICC in 1956. Revised versions were issued in 1967 and[...]

Letter of Credit - Documentary Credit

info@icom7.com [Jacques Guiffo] — Sun, 09 Nov 2008 14:05:12 +0100

What is a Letter of Credit?

A Letter of Credit is a payment term generally used for international sales transactions.It is basically a mechanism, which allows importers/buyers to offer secure terms of payment to exporters/sellers in which a bank (or more than one bank) gets involved. The technical term for Letter of credit is 'Documentary Credit'. At the very outset one must understand is that Letters of credit deal in documents, not goods. The idea in an international trade transaction is to shift the risk from the actual buyer to a bank. Thus a LC (as it is commonly referred to) is a payment undertaking given by a bank to the seller and is issued on behalf of the applicant i.e. the [...]

Export to Cameroon (Central Africa)

info@icom7.com [webmaster] — Sat, 19 Jul 2008 21:48:48 +0200

::: EXPORT TO CAMEROON :::

Exportation of goods

Who can export ?
What can be exported ?
How to export ?

Who can export?

Generally, every individual or corporate entity can export goods.

Exceptions: goods whose exportation is subjected to authorisation: endangered flora and fauna in accordance with the Convention on International Trade in Endangered Species of Wild Fauna and Flora. For example:

Big monkeys and lemur
Pandas and South American[...]

Import / Export to Cameroon (Central Africa)

info@icom7.com [webmaster] — Sat, 19 Jul 2008 21:49:48 +0200

::: IMPORT TO CAMEROON:::

Our aim here is to present the measures introduced by public authorities to encourage importation and exportation. We also want to place at the disposal of users of Customs services some pieces of information on the importation and exportation of goods, namely:

import formalities;
specific authorisations;
import and export procedures;
post-clearance checks;
etc.

I - Measures to encourage imports and exports

A- The Investment Charter of the Republic of Cameroon, law n° 2002/004 of[...]

Summary of Export Price Costing

info@icom7.com [Jacques Guiffo] — Mon, 25 May 2009 14:20:38 +0200

Here are some basic example of how costing can be done in local Malaysian currency and thereafter, can be easily converted to foreign currency for export pricing of product.

Determine Product Cost -in your local currency
Determine Factory Sales Price - in your local[...]

Quotation for Export

info@icom7.com [Jacques Guiffo] — Sat, 19 Jul 2008 13:44:33 +0200

Export quotation may take various forms: a verbal agreement, a telephone, telex, cable, fax, airmailed letter or E-mail. It may also be a pro-forma invoice, which is an outline of what the commercial invoice would be-showing all details of the shipment.

Export quotation should describe the goods, the quantity involved, the unit price, the total value, the delivery and payment terms.

Export Pricing Competitiveness

info@icom7.com [Jacques Guiffo] — Mon, 25 May 2009 13:06:36 +0200

The cost-plus method of export pricing helps to ensure that the exporter will be selling at a profit. However, it does not take into account the prices of competing products in the foreign market. Therefore, the next step in export pricing is for the exporter to check the competitiveness of his price in the target foreign market.

When the exporter finds that his price is too high, he must decide whether other features of the product quality, design,[...]

How to do Costing for Export?

info@icom7.com [Jacques Guiffo] — Mon, 25 May 2009 13:04:19 +0200

The first step is to use below cost-plus method to determine the export pricing competitiveness of your products.

The Cost Plus Method of CalculationExample. Your freight may be worth $ 100,000.00, but you pay $ 12,000.00 for crating and air
freight to the foreign destination. If you insure the shipment for only the $ 100,000.00 value and the
shipment is a total loss, you would also lose the $ 12,000.00 in transport costs.
….you still have to pay the crating company, origin trucker, airline, insurance cost, delivery,[...]

Incoterms 2000 (International Commercial Terms)

info@icom7.com [icom7 Team] — Tue, 29 Jul 2008 12:51:19 +0200