This page will include material that help you to enter in international freight forwarding (IFF). There are uploaded text version, presentation of material and quiz to check what have you learn. Enjoy!
There are seven main steps you need to follow during arranging international shipping/trade.
What You Will Learn in this Section:
- Step #1: Importer requests quotes and orders goods (incoterms, consignee, consignor, freight forwarder, letter of credit, commercial invoice etc.)
- Step #2: Freight forwarder arranges export (lists of documents prepared by the supplier and buyers).
- Step #3: Booking of freight
- Step #4: Goods to travel to international depot/port (a Bill of Lading)
- Step #5: Goods processed through export customs clearance and placed in transit
- Step #6: Goods arrive in buyer’s country for import clearance (CBSA etc.)
- Step #7: Goods are transported from the port to the buyer
A tool for minimizing risk in international trade. A letter of credit is essentially a financial contract between a bank, a bank’s customer and a beneficiary.
What You Will Learn in this Section:
- What is a letter of credit?
- What is it used for?
- Who is involved?
- How does it work?
- What is a discount rate?
- What is a back-to-back letter of credit?
- What is a letter of guarantee?