By John J. Capela
A transparent, easy-to-understand primer at the interesting international of import/exportThe usa imports $1.2 trillion and exports $772 billion in items on an annual foundation. Import/Export For Dummies presents marketers and small- to medium-size companies with the serious info they should commence exporting their items worldwide and uploading items to promote in the USA. This useful advisor covers the fine details of constructing or increasing operations to seize a proportion of this becoming marketplace, with information at the most sensible ten international locations with which the United States trades, from Canada to Germany to China.
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Extra resources for Import Export For Dummies (For Dummies (Business & Personal Finance))
Sample text
Forces you can’t control You can’t control everything in business, but you’ll be way ahead of the competition if you recognize what you can’t control and figure out a way to adapt. Economic and socioeconomic conditions The economic and socioeconomic conditions in other countries are definitely factors you have no control over. And yet, when you’re considering doing business internationally, you have to closely examine those conditions, because they may affect the attractiveness of the market. If you want to export goods, a potential market must have enough people with the means to purchase your products.
Confirm who will register trademarks, copyrights, and patents, if applicable, and in whose name it will it be. Finally, make sure that any agreement includes a provision for termination and settlement of disputes. When you conduct business in the United States, domestic laws will cover all transactions. However, questions of the appropriate law and courts of jurisdiction may arise in cases involving different countries. When a commercial dispute arises between individuals from two different counties, each person would prefer to have the matter adjudicated in his own courts and under his own laws.
As an importer/exporter, you need to be able to read and understand foreign exchange quotations, and recognize and understand currency exchange risks. Many newspapers list the foreign exchange table in their finance sections. There you may see, among others, a quote like the one shown in Table 1-1. S. S. 8498. S. S. 5406 British pounds. The spot rate is the exchange rate between two currencies quoted for delivery within two business days. The forward rate is a currency for delivery in the future, usually 30, 60, 90, or 180 days down the road.