»History of free trade2014-08-26

The history of free trade is a history of international trade focusing on the developments of open markets.

»Introduction of Balanced Trade2014-08-26

Balanced trade is an alternative economic model to free trade. Under balanced trade nations are required to provide a fairly even reciprocal trade pattern; they cannot run large trade deficits. If deficits appear, the surplus nation must find a way to balance out trade or risk sanctions, fees, or quotas.

»Key fair trade principles2014-08-26

Fair trade advocates generally support the following principles and practices in trading relationships:

»Introduction of Trading Contract2014-08-26

Contracts are so much a part of living in a society that you are probably unaware of how many contracts you make every day. In the broadest sense, a contract is simply an agreement that defines a relationship between one or more parties. Two people exchanging wedding vows enter into a contract of marriage; a person who has a child contracts to nurture and support that child; shoppers selecting food in a market contract to purchase the goods for a stated amount. A commercial contract, in simplest terms, is merely an agreement made by two or more parties for the purpose of transacting business. Any contract may be oral or written. Written terms may be recorded in a simple memorandum, certificate, or receipt. Because a contractual relationship is made between two or more parties who have potentially adverse interests, the contract terms are usually supplemented and restricted by laws that serve to protect the parties and to define specific relationships between them in the event that provisions are indefinite, ambiguous, or even missing.

»Balance of Power2014-08-26

The essence of a contract is the mutual understanding reached by two parties who hold adverse positions against each other. In most contractual situations, one party will have a stronger position than the other. For example, a large corporation that offers goods for sale may be able to insist on contract terms that are highly favorable to the corporation while restricting the rights of individual buyers. The corporation may offer a standard form sales contract with nonnegotiable terms-take it or leave it-to the buyer.

»Cross-Border Rights and Obligations2014-08-26

In any contractual arrangement, it is important to establish clearly the rights and obligations of each party. If these terms are absent or ambiguous, the parties will probably not be able to perform the contract without first modifying the terms. Moreover, enforcement will be unpredictable, because a court will have to imply terms based on what the court believes would have been the intent of the parties.

»Cross-Cultural Expectations2014-08-26

Well-drafted contracts can help to ensure that parties who have diverse cultural backgrounds reach a mutual understanding with regard to their rights and obligations. All contracting parties come to the table with individual expectations, which in turn tint their understanding of the terms. What is reasonable to one may not be to the other, in which case mutual understanding-an essential element in the creation of an enforceable contract-is lacking.

»Governing Law2014-08-26

When trading internationally, parties frequently assume that they can operate in accordance with their own domestic laws and practices. This assumption is erroneous and can lead to grave misunderstandings. When you trade across country borders, you are subject to not only the laws of your own country but to the laws of other countries where you do business. You need not physically enter another country to become subject to its laws-merely selling goods by mail or electronic means may establish a sufficient connection to bring you within the jurisdiction of another country's courts.

»Necessary Terms2014-08-26

In most countries, parties to commercial transactions may make their own bargains free of legal restraints. However, in most jurisdictions, the courts will enforce a contract only if the parties have agreed to four basic terms:

»Personal Commitment2014-08-26

When dealing with a distant party in another country, you may be uncertain of the extent to which that party is making a commitment to perform the contract. While you are no doubt serious about the bargain, you have no evidence as to whether the other party has equal resolve. Does timely delivery of your order have the same importance to the other party as it does to you? Is the other party committed to producing quality products that meet or even exceed your expectations? Trust is built on the personal commitment that each party demonstrates to the transaction, and therefore this aspect of any transaction whether domestic or international is especially significant.

»The Basic Import Process (2)2014-08-26

Standard Documentation

»The Basic Import Procedure (1)2014-08-26

Every country processes imports. In some, the import process is minimal; in others, delays for paperwork and official authorizations can be significant. Some countries offer accelerated customs clearance, but a trader must still file proof of source and destination, complete certificates and forms, and satisfy local customs officials. Even for products subject to no import restrictions, certain data is usually furnished to a customs authority so the government can compile trade statistics and assess fees and taxes. Importing is always evolving. To decrease border delays, many countries are consolidating departments, revamping reporting requirements, and implementing computerized systems. Some allow for preshipment inspections and pre-entry filings. Traders should keep checking for new options.

»Basic Export procedure (2)2014-08-26

Preparing a Product for Shipping

»Basic Export procedure (1)2014-08-26

Methods of Exporting and Channels of Distribution

»Cargo Insurance and Clauses2014-08-26

The term cargo insurance, popularly known as marine insurance, applies to all modes of transportation. The need for export (or import) cargo insurance often differs from exporter to exporter (or importer to importer) and from consignment to consignment. Unless the insurance is mandatory in a trade term, the exporter or the importer may opt not to insure the goods at his/her own risks.

»Contingency Insurance2014-08-26

In the trade contract terms FOB and CFR, the insurable interest transfers from the exporter to the importer at the time the goods pass over the ship's rail. It is very important that the exporter provides the details of the shipment to the importer promptly, so that the insurance can be arranged on time.

»Insurance Claims2014-08-26

In the trade contract terms CIF and CIP, arrangement is usually made for any claims to be paid at destination to the consignee or issuing bank. However, should a loss occur prior to the passing of title to the goods to the consignee, such loss is payable at origin to the shipper or financing agent.

»ULD (Unit Load Device) Pallets Glossary of Terms2014-08-26

Certification, ULD Approval by the appropriate governmental airworthiness authority indicating that the aircraft ULD meets their safety requirements

»INCOTERMS (1): CFR | CIF | CIP | CPT |2014-08-26

1, Cost and Freight (... named port of destination) "Cost and Freight" means that the seller delivers when the goods pass the ship's rail in the port of shipment.

»Twelve Tips for Import Success2014-08-26

Twelve Tips for Import Success