- B2B Payment
- Customs & Incoterms
- Export & Import
The pandemic has changed the way businesses interact financially giving way to a more digital route for B2B payment methods. Modes of B2B payments such as cash and cheques were going down and being replaced by other modes of payments such as credit cards, opening an escrow account, wire transfers, and other online modes of B2B payments. This digital trend is only growing by the day and appears to be staying on for a while. Having said that, the B2B payments landscape, especially internationally
When one expands globally, it is a very fulfilling and exciting time for the business. However, this growth also presents its own set of challenges. Cross-border payments, invoicing, and getting international clients to pay on time can be a bit of a tedious task. Invoicing is the concluding activity before the payment is received in the entire cycle of the trade. We often strategize on how to deliver the product and how to receive the payment but we tend to neglect this crucial invoicing step f
Customs & Incoterms
The proliferation of the Internet, e-commerce, and opening up of international trade norms across the world have made it easier for buyers and sellers, importers and exporters across the world to conduct trade and business deals. The varying import and export norms and practices in different countries, however, present the risk of misunderstandings and disputes. To resolve these and to facilitate global trade the International Chamber of Commerce (ICC) has established the Intercoms (Internationa
Every day, millions of tons of cargo are shipped to destinations within a country or overseas. Hence, rules and regulations regarding incoterms have been enacted to manage this national and international trade. There are 11 incoterms, and these list out the responsibilities of both buyers and sellers. Delivery Duty Paid (DPP) is one of these 11 incoterms and defines the responsibility of sellers. Courtesy of seller.alibaba.comObligations of the sellers DPP is a delivery agreement between the bu
The EX Work Incoterm is commonly known as EXW Incoterm, often heard during the trade sector, especially for importing and exporting goods. When you opt for an EXW incoterm, the seller is only responsible for delivering goods to the designated location. Everything after that, including the shipping cost, is covered by the buyer. Therefore, this arrangement is more suitable for sellers as it has limited obligations for them. Under this incoterm, once the merchandise is packed, the full responsibi
Export & Import
There are a few key shipping documents that the exporter must always be ready with. The export procedure and documentation [https://web.tazapay.com/export-documents-what-you-need-to-get-started/] required are quite simplified and explained intricately on the Singapore Customs website. When sending your goods to another country, there is a checklist of the most common export documents that will be necessary to be included with your shipment. The eventual documentation that needs to be provided w
When getting into international trade, having an in-depth comprehensive knowledge about the import and export procedure [https://tazapay.com/blog/import-and-export-procedure-in-india-all-you-need-to-know] of the country one is doing business with is extremely critical. Exporting is a big deal and one has to consider various aspects when getting into exporting such as how friendly the trade laws of the country are, how complicated is the import and export procedure, analysis of the place, regula
The right location and a sound business strategy are important prerequisites for starting a trading company in any part of the world. Over the years, Singapore has emerged as one of the most favourable destinations for entrepreneurs planning to set up a trading company. Singapore is truly an attractive business destination with the second-highest GDP in the world and a business-conducive environment. Nevertheless, like every country, Singapore also has certain regulations. You need to know these
Incoterms, simply meaning INternational COmmercial TERMS, is a phrase first coined by the International Chamber of Commerce in 1936.
International trade comes with lots of risks, documents and terms. Learn everything about Export and Import in this simple guide.