...About Mirsal 2: 1. What types of Declarations can be made in Mirsal 2? The following table lists the types of declarations: Sl. No Declaration Type 01 Import to Local from ROW (Rest of the World) 02 03 04 Import to Local from FZ (Free Zone) Import to Local from CW (Customs Warehouse) Import to Local from GCC (statistical Import) Import for Re Export to Local from ROW Import for Re Export to Local from FZ Import for Re Export to Local from CW Import to CW from ROW Import to CW from FZ Import to CW from Non‐ Dubai CW (Other Emirates & GCC) Import to CW from Non‐ Dubai FZ (Other Emirates & GCC) Export from Local to ROW Export from Local to FZ Export from Local to GCC (statistical export) Temporary Export from Local to ROW Temporary Export from Local to FZ Export from CW to ROW Export from CW to FZ Purpose To import goods for local/GCC consumption from overseas countries other than (GCC) Gulf Co‐operation Council Countries. To import goods for local/GCC consumption from Free Zones. To import goods for local/GCC consumption from Customs Warehouses. To import goods for local consumption from a GCC country or Transit to another GCC country. To import goods from overseas countries other than GCC to local, for the purpose of re‐ export to overseas countries other than GCC. To import goods from Free Zones to Local for the purpose of re‐export to overseas countries other than GCC To import goods from Customs Warehouses to Local for the purpose of re‐export to overseas ...
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...ippingU.S.-Mexico Shipping Options White Paper In brief Understanding what can happen at the U.S.-Mexico border with your truckload shipments could impact the decisions you make—and whether or not you will actually get what you pay for. By reviewing the process and your options, you will be able to develop better, more efficient strategies to help minimize costs and risk. Contents Cross-Border Shipping: A Primer 1. Carrier restrictions 2. Cargo inspections 3. Cargo insurance 4. Equipment availability Northbound Shipments, Step by Step Southbound Shipments, Step by Step 7 Tips for Choosing a Cross-Border Provider C.H. Robinson | U.S.-Mexico Cross-Border Services 4 4 4 5 6 6 7 8 2 If you’re not already shipping products via truckload across the U.S.-Mexican border, it’s probably only a matter of time, considering that Mexico is the United States’ third-largest trading partner.1 More than 18,000 companies with U.S. investment already have operations in Mexico,2 and many others ship their products across the border. This white paper will better prepare you to join them. There are two distinct methods of truck transportation across the border: transloading and direct service. In transloading, product is transferred from one trailer or container to another at a warehouse or terminal before crossing the border and being taken to FIGURE 1 Main land-border the final delivery. In direct service, a trailer or container crossings...
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...(determining what product to sell, conducting market analysis, creating company mission, and others), consult this guide for an outline of how to import products in the United States. Please note that every product has specific criteria, rules, and regulations. Therefore, you will need to consult the resources listed throughout this document for the specific criteria for your business and product. This document is merely a general overview to guide you through the basics of the importing process. § Locate Supplier(s) For fair trade importers, locating producer partners is the most important step. If you have not yet found fair trade suppliers, try consulting the International Fair Trade Association directory (www.ifat.org) or ask the Fair Trade Federation (www.fairtradefederation.org) to recommend specific products or producer groups. § Determine Method of Transport Please note that there are different import processes and quotas for importation via boat, air, and mail. You need to determine the best mode of transport for your specific items. As you decide, take the following factors into consideration: customer deadlines, your budget, producer’s production time, the shelf life of items, and environmental concerns. § Determine Port of Entry Your port of entry is the place where your items can lawfully enter the country. Consult 1 www.portcodes.com for a list of US ports. Customs brokers ...
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...MIDWAY MARITIME FOUNDATION INC. Bitas,Cabanatuan City NARRATIVE REPORT A partial fullfilment of the requirements in Bachelor of Science in Customs Administration Prepared by: Ms.Christine L. Dela Cruz CA-7B1 Prepared to: LCB Jayson G. Juan Adviser ACKNOWLEDGEMENT I would like to express my deepest gratitude and sincerest appreciation to the following; LCB Jayson G. Juan,our adviser and motivator,for his untiring support,guidance throughout the on the job training,enabling me to complete this narrative report. MIDWAY MARITIME FOUNDATION INC.,my institution for giving me a chance and all the knowledge to become an effective Customs Broker someday. MS.ROMANA O. GALINDO AND MR.CONSTANTINO L. CALICA,my superiors and my Kuya’s in the company Kuya Chris,Darwin and Hassan during my training,for their kindness,trust,tips,guidance,support on my training; MS.ANICETA R. PASCUAL,who gave me an opportunity to have my internship,for her love,support and guidance and who had been my companion before going to office and going home to apartment during my training. To my classmates and friends,who had been there as my companion on apartment during our stay,in bad times and good times,whom I share my daily experiences in our training. MR.DANILO and LORENA DELA CRUZ,my loving parents,for their love,encouragement,moral and financial support all the time. And above all to OUR LORD,who gave me all the knowledge and strength to complete this narrative report,and for all...
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...helped to create different styles of furniture. Labor is inexpensive and Guillermo has priced his furniture for the quality of the design. As time pass there changes in the business and Guillermo has seen this effect his business. By all the changes that where happening Guillermo saw his profits go down and cost go up. Now Guillermo has to look at his choices he has to make to be able to compete (University of Phoenix, 2013). Choices Guillermo learned that there was a competitor overseas that is using high-tech approach. By using this high-tech approach competitor is able to make furniture to the exact specifications and at low prices. Guillermo looks into this choice to see what changes it would create. The second option for Guillermo is to work as distributor of furniture and keep some of high end custom work. Guillermo can also create the coating for flame-retardant and add this to his furniture (University of Phoenix, 2013). High-Tech Choice By Guillermo using the high-tech choice he would be able to use a computer controlled laser to create exact cuts in the wood. Norway high-tech company’s equipment uses highly automated and uses little labor. Since robots perform most of the precise movement and assembly functions. The cost to switch to this method would be big but it would reduce the cost for labor needed for production. This method also makes production go by faster, and would create a 24-hour environment. By using the method the extra shifts would be cover by the reduction...
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...CBP Electronic International Commerce System 1.0 Executive Summary In 2008, “U.S. Customs and Border Protection (CBP) collects over $30 billion annually, the second largest revenue generator for the U.S. Government” ("Overview of revenue:," 2008). Believe it or not, the U.S. government is behind the times in terms of technology when it comes to commercial trade and the potential for revenue has grown exponentially. Many partakers in this industry are greatly affected by this lack of updated technology and would jump at the opportunity to invest into a new program that would allow for more efficiency. The companies participating in commercial international trade need one source that contains all import and customs clearance information for any commodity. The government has agreed to invest, has had the programs/software built, and has made the technology available to the public. This software is the single most important step forward in efficiency for U.S. international commerce. Companies that would subscribe to such a service provided by CBP include self-sufficient importers, air, vessel or vehicle carriers, bonded warehouses, and Customs brokers. These teams work in conjunction to complete all of the regulations of international trade that U.S. Customs requires, while dealing with the apparent out of date technology provided and therefore are the potential customers. After taking the step to invest in technology that would allow their company to interact technologically...
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...air freight carrier, largest customs broker, largest package company in world revenue and volume expansion of vertical offerings by increasing the number of customers. Each of these strengths makes them stand out from their competitors and allows them to satisfy their customer’s needs. UPS offers all kinds of services like air, ground, domestic, commercial, international, and residential. They are mainly known for ground shipping because that is their most used service. Ground shipping is used in all 50 states plus Puerto Rico and is the most cost-effective service they have. International services allow you to choose from the best available flights (UPS Express Critical), 1-3 business days (UPS Worldwide Express/Plus, Saver), or 2-5 business days (UPS Worldwide Expedited). Air freight shipping allows you to meet your shipping deadlines with decent air rates. They also have a supply chain service (freight forwarding, customs brokerage, and returns management) which helps improve the efficiency of the supply chain management process. Their freight forwarding service is the largest U.S domestic air freight carrier. UPS is mainly a ground-shipping company and being the second largest air carrier is a bonus for them. They offer a guaranteed and a non-guaranteed global air freight service that allows you to choose shipping times ranging from next day delivery to five day delivery. Also, they provide you with an online service that helps figure out what your air freight rate might...
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...beautiful scenery, un-congested roads, a new International Airport, and plenty of development, an influx of people and jobs raised the cost of labor substantially. Guillermo watched his profit margins shrink as prices fell and costs rose” (University of Phoenix, 2010). Guillermo Issues Guillermo is facing two issues he did not have to deal with prior to the larger company entering his market with their hi-tech machinery producing furniture at low costs. First, Guillermo will have to alter his pricing structure if he wants to remain competitive with the new company. For years Guillermo has had a monopoly on the market and could charge top dollar for this custom made furniture. Because a competitor with a cheaper method of producing furniture has entered his market, Guillermo must make price cuts. Guillermo must also consider what cutting prices will do to his business. To keep the same profits levels, Guillermo must find a more cost-effective way to produce furniture. Alternatives The Guillermo Furniture Store simulation poses future success of the company may be...
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...on January 1, 2011. The revised rules, designated "INCOTERMS 2010", contain a series of changes, such as a reduction in the number of terms to 11 from 13. The DAF, DES, DEQ, and DDU designations have been eliminated, while two new terms, Delivered at Terminal (DAT) and Delivered at Place (DAP), have been added. INCOTERMS 2010 also attempt to better take into account the roles cargo security and electronic data interchange now play in international trade. WHAT INCOTERMS ARE - INCOTERMS are a set of three-letter standard trade terms most commonly used in international contracts for the sale of goods. First published in 1936, INCOTERMS provide internationally accepted definitions and rules of interpretation for most common commercial terms. In the US, INCOTERMS are increasingly used in domestic sales contracts rather than UCC shipment and delivery terms. WHAT INCOTERMS DO - INCOTERMS inform the sales contract by defining the respective obligations, costs and risks involved in the delivery of goods from the Seller to the Buyer. WHAT INCOTERMS DO NOT DO - INCOTERMS by themselves DO NOT: • Constitute a contract; • Supersede the law governing the contract; • Define where title transfers; nor, • Address the price payable, currency or credit terms. These items are defined by the express terms in the sales contract and by the governing law. INCOTERMS 2010 are grouped into two classes: 1. TERMS FOR ANY TRANSPORT MODE • EXW - EX WORKS (... named place of delivery) o The Seller's only...
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...International Business, 14e (Daniels et al.) Chapter 13 Export and Import 1) Which of the following transactions refers to the sale of goods or services produced by a company based in one country to customers that reside in a different country? A) importing B) countertrading C) exporting D) freight forwarding Answer: C Diff: 1 Skill: Concept Objective: 1 2) Small and medium-size enterprises, such as SpinCent as seen in the opening case for chapter 13, account for ________ of all U.S. exporters. A) 38% B) 54% C) 79% D) 97% Answer: D Diff: 1 Learning Outcome: Discuss the roles of exporting, importing, and countertrade in international business Skill: Concept Objective: 1 3) Which of the following best explains why SpinCent decided to export? A) growth opportunities in Asia B) labor demands in the U.S. C) declining tariffs in the EU D) promising market locations in South America Answer: A Diff: 2 Skill: Concept Objective: 1 4) Iverson Products is a U.S. firm that is considering expanding internationally by exporting. Which of the following is the LEAST likely benefit for Iverson? A) boosting marketplace flexibility B) improving economies of scale C) facing lower business risk compared to other foreign market entry options D) requiring fairly few resources Answer: B Diff: 2 Learning Outcome: Discuss the roles of exporting, importing, and countertrade in international business Skill: Application Objective: 1 5) Which...
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...INTERNATIONAL TRADE & INVESTMENT Prof. Dr. Natalia Ribberink World Trade Center, Seoul, South Korea (Picture: Ribberink) INTERNATIONAL TRADE & INVESTMENT Preliminary Notes World Trade Center, Seoul, South Korea (Picture: Ribberink) Preliminary notes • Combination of lecture, seminar, group work and other forms of learning as appropriate; • Grading: working paper 60%, case studies 40% • Communication: natalia.ribberink@haw-hamburg.de © Prof. Dr. Natalia Ribberink 3 Agenda Chapter 1: Chapter 2: Chapter 3: Chapter 4: Chapter 5: International trade and investment environment International trade policy and instruments Forms of international trade FDI theories, patterns and forms FDI policy instruments For details s. Syllabus (will be provided in class on Nov 10, 2015). © Prof. Dr. Natalia Ribberink 4 Message icons Further reading Question for group discussion Case study Int. Trade & Investment Vocabulary © Prof. Dr. Natalia Ribberink 5 Online sources: AuslandsGeschäftsAbsicherung des Bundes: www.agaportal.de Außenwirtschaftsportal: www.ixpos.de Berne Union: www.berneunion.org.uk Kreditanstalt für Wiederaufbau: www.kfw.de OECD: www.oecd.org Statistisches Bundesamt Deutschland: www.destatis.de The Economist: www.economist.com UNCTAD: www.unctad.org World Trade Organisation: www.wto.org © Prof. Dr. Natalia Ribberink 6 CHAPTER 1: International trade & investment environment Westside Market...
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...GLOBAL SOURCING MANAGEMENT AASM04-J LONG QUESTIONS AND ANSWERS STUDY UNIT 1 1. FACTORS INFLUENCING THE INTERNATIONALISATION OF BUSINESS The last two decades have seen rapid changes in the global economy. National economies are becoming more integrated. A single, interdependent, global economic network has gradually developed and is still in the process of unfolding. Global megatrends which continue to influence the international business world include technological innovation; the shift in emphasis from manufacturing through services to the Information Age; the development of regional trading blocs; and changing demographic patterns. The main driving forces for globalisation are: reduced trade and investment barriers that enable the free flow of goods, services and capital on a global scale unprecedented technological change and progress, especially with regard to communication, information and transportation technologies competition International trade blocs multinational corporations Because of the globalisation of markets and production, over the last two decades, world trade has grown faster than world output. Foreign direct investment flows have increased substantially. Imports have penetrated more deeply into the world’s industrialised economies and competitive pressures have increased continuously in one industry after the other. These factors have collectively added to the complexity of international management and of international purchasing...
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...Case 8-2 Ohio Plastics Ohio Plastics (OP) is an extruder of plastic sheets of varying color and size that are sold to engraving and business promotional firms who make signs, name tags and award trophies from the plastic sheets. OP is well known in the industry for making a high-quality product and for providing quick response times for orders. In 2003 OP had 75 percent of the U.S. market for plastic engraving sheets. During the last half of 2003 OP sales declined. Discussions with OP’s major distributors and engravers revealed a softening of demand for engraved items, and the outlook for 2004 was a further reduction in sales. To counter the U.S. market decline, OP began to sell its products in Mexico in August 2003. OP signed agreements with distributors in Mexico City, Monterrey, and Guadalajara. During the first 6 months distributors in these Mexican cities had double-digit monthly sales increases. However, during the first quarter of 2004, monthly sales increased at a slower rate. Discussions with the Mexican distributors indicated the lead time for shipments had increased to 7 days from the 4-day norm during 2003, and the consistency of the transit time had dropped to 70 percent. This longer, less consistent lead time for shipments resulted in frequent stockouts and lost sales. Because OP did not have brand recognition in Mexico, the Mexican engravers would buy other brands from the distributors. Thus OP incurred the lost sales while the distributors...
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...Case 8-2 Ohio Plastics Ohio Plastics (OP) is an extruder of plastic sheets of varying color and size that are sold to engraving and business promotional firms who make signs, name tags and award trophies from the plastic sheets. OP is well known in the industry for making a high-quality product and for providing quick response times for orders. In 2003 OP had 75 percent of the U.S. market for plastic engraving sheets. During the last half of 2003 OP sales declined. Discussions with OP’s major distributors and engravers revealed a softening of demand for engraved items, and the outlook for 2004 was a further reduction in sales. To counter the U.S. market decline, OP began to sell its products in Mexico in August 2003. OP signed agreements with distributors in Mexico City, Monterrey, and Guadalajara. During the first 6 months distributors in these Mexican cities had double-digit monthly sales increases. However, during the first quarter of 2004, monthly sales increased at a slower rate. Discussions with the Mexican distributors indicated the lead time for shipments had increased to 7 days from the 4-day norm during 2003, and the consistency of the transit time had dropped to 70 percent. This longer, less consistent lead time for shipments resulted in frequent stockouts and lost sales. Because OP did not have brand recognition in Mexico, the Mexican engravers would buy other brands from the distributors. Thus OP incurred the lost sales while the distributors...
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...Guillermo Furniture Store Analysis Corporate Finance Dylan Lukens April 30, 2012 Guillermo Furniture Store Analysis The furniture store owned by Guillermo in Sonora, Mexico has operated a successful business creating custom furniture. As time went on Guillermo began to realize that other companies in the area had become interested in making furniture. The competition has forced Guillermo to consider alternatives within the Furniture Store. There are three alternatives to consider, which include going the high-tech route, being a broker, or continuing with his current model. Considering these alternatives means that a thorough analysis must be done to ensure the correct decision is made. The following will include and discuss a sensitivity analysis that will determine the optimal weighted average cost of capital (WACC) as well as calculating the net present value (NPV) of future cash flows for each alternative. As a manager of the furniture store the use of a capital budgeting techniques will be crucial. This includes a simple payback period, a discounted payback period and the net present value or NPV. The simple payback period method is the expected number of years required to recover from Guillermo’s original investment. When analyzing the incoming and outgoing cash flow it is clear that this occurred during year three of Guillermo Furniture. “Capital budgeting is fundamental because a firm is essentially defined by its assets and the products and services...
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