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Factors to Consider During Importation Process

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Factors to consider before importing.
The term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an importer who is based in the country of import. And in this case we are the importers.
Some of the questions to consider are:
Are there trade agreements? And with whom? This is one of the major factors to consider before carrying out the importation process. We will need to obtain market import information about the coffee beans in order to establish effective trade agreement with the right supplier. This information can be obtained from the internet, visiting potential markets and exhibitions and from established importers. After selecting the right supplier of the coffee beans establishment of trade agreements follows like placing the order and delivery of the goods through proper use of documents but before then we should ensure we have the trading license, import license and the import permit. Trade agreements are established with the supplier once he/she has also complied with the relevant regulations. Some of the trade agreements include: the method of payment, transfer of liabilities during transportation among others. This trade agreements are facilitated by the availability of International Commercial Terms which defines responsibilities regarding title, risks and costs, and eliminates possibilities of misunderstandings and disputes.
What are the exchange rates? This is the price of a country’s currency in terms of another currency. It therefore has two components which are the domestic and the foreign currency. A price you agree with the supplier on one day could rise or fall if the exchange rate changes. By doing nothing, you are gambling your way, which can

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