In this Business English learning online post, we explore how to talk about exporting goods and services.
What is important when exporting goods or services for the first time?
- seeking expert advice
- knowledge of laws/regulations regarding the target country
- correct documentation
- accurate costing
Exporting Goods or Services
It is essential to partner with experts in this field if your company has no previous experience with regard to exporting goods or services. Use of a third party export consultancy or export agent would be highly recommended.
Another possible source of problems is related to the legal structure and import regulations which are in force in the country being exported to. Again, it would be useful to have contact with specialists within the target country in order to smooth the way for importation of the company’s goods or services.
Once the correct procedure have been identified and clarified it is crucial to ensure that the necessary documentation for exportation and importation is managed in an organized manner. This might include, for example, bills of lading, freight insurance, certificates of origin, customs declarations, irrevocable letter of credit, and pro forma invoices.
The company should also ensure that it has projected accurately all costs involved in the exportation process such as CIF (cost, insurance and freight), customs taxes or duties, whether goods are costed FAB or FOB, and all costs associated with shipping agents and other third parties involved in the process of transportation, loading, and delivery of goods to the final destination.
