International Trade Articles

Read our articles covering a wide area of international trade topics

 

Strong & Herd LLP articles on key international trade topics is a quick way to get an expert view of matters relating to export, import and customs procedures and international trade issues.  Written by S&H LLP partners or associates, these articles provide additional information and work in association with our blogs - import/export matters;  EU customs updates; Incoterms 2010 - and News section of the website.  In addition, S&HLLP members also have access to the "Did You Know?" up-date snippets (refreshed twice a month) posted in the members' only area where some of these details published in these articles started.   To become a member you just need to join our helpline and support service ONECALL

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The Miscellany Page within this section is a QUIZ loosely linked to international trade (new quiz posted every month), a selection of interesting or slightly strange facts and quotes loosely linked to international trade or training issues we have found interesting over the years - we hope you enjoy the oddities here; and remember to revisit us ... we will be adding more on a regular basis.  You can also follow these on Twitter at: http://twitter.com/SandraStrong or http;//twitter.com/StrongHerdLLP and on our wall at FaceBook

 

 

 

May 2017

1.  Getting Paid Part 2 - Managing Credit Customers

While effective credit management is crucial for any business, it is particularly important in international trade.  Exporting businesses are particularly vulnerable to the effects of late paymetns for a number of reasons including the following:-  Read more

2.  Article 218: The Next Steps

The triggering of Article 50 of the TFEU moved the Brexit negotiations to another part of the Treaty on the Functioning of the European Union - Article 218.  This Article sets out the EU's rules for conducting negotiations with theird parties. For example, it defined the way negotiations happened between the EU and Canada over the Comprehensive Economic and Trade Agreement (CETA) and between the EU and Singapore on the EU-Singapore Free Trade Agreement.  Of course, the UK is not a third country yet but a trade deal can only be negotiated under this Article and any agreement must be ratified by all 27 EU countries and their national parliaments. (Belgium alone has seven of them). Read more

3.  What are Trade Agreements

In the wake of the triggering of Article 50. Jeff Lewis from import export training experts Resultz decodes the specifics of trade agreements.  Here's what you need to know ...  Read more.  

4.  What are Incoterms?

 It stands for International Commercial Terms and they are an internationally recognised system of establishing clearly, in sales contracts, the legal obligations of the buyer and seller with regard to the DELIVERY OF GOODS.  It is beneficial to all parties involved in international transactions especially, to have any vagueness misunderstandings and confusion in international contracts removed.  Incoterms have been written to do just that in this important area of delivering the goods. Read more

5.  Young BExA award winners set their sights on Africa

 Read more

6. Tales from the Road - The Changing Nature of Travel

When people aks me what I do I normally answer "I'm an International Trade Consultant" which usually shuts them up! While most people just accept it as what I do, some like to delve a little deeper.  The trouble is that after more than 30 years of interntional business travel it is getting harder to provide a concise summary.  Read more

6.  Brexit - What did the Romans ever do for us?

First, whilst the UK Government has not made this plain, the intention is to retain VAT in the UK and reading between the lines, in its current form.  That is a relief as, for example, trying to change systems, including invoicing routines, by 31 March 2019 would be a tall order even for the most efficient and well-resourced of companies. Read more

April 2017

1.  Getting Paid Part 1 - Agreeing the Right Payment Terms

In this article and the following one, I am looking at the imporrance of managing payments on international transactions. Read more

2.  They Tax, We Export - Part 2

In our last blog post, we discussed the issue of import duties and how protectionist measures in Latin America can deter British businesses from considering these markets.  Read more

3.  HMRC Getting Tough with Customs Clearance Agents (and ignorance is not excuse)

It has become noticeable over the past six months or so that the number of enquiries received from freight forwarders and Customs clearance agents (as opposed to exporters and importers) is on the increase.  Is this a Brexit factor? or is it the new Union Customs Code (UCC) simply kicking in?  read more

4.  A Perception of Danger

I was watching the news this morning and saw that protesters had infiltrated the Madedonian Parliament, bloodying the face of the leader of the Social Democrats.  Read more

March 2017

1.  Trade Facilitation - The Way Forward

On the 22nd February 2017 the historic Trade Facilitation Agreement (TFA) came into force.  According to the World Trade Organisation (WTO) it is the first multilateral trade agreement to be concluded since the WTO was established 20 years ago.  Now it has entered into force it is expected to reduce total trade costs by more than 14 percent for low-income countries and more than 13 percent for upper middle-income countries by streamlining the flow of trade across borders. Read more

2.  Export Jargon - An Introduction for Novice Exporters

 Export jargon can be mystifying for individuals or businesses that haven't been involved in international trade before.  Two of the biggest mistakes a novice exporter can make are to either assume that exporting is so easy they don't need any help or advice, or to assume it's so difficult they would rather not do it.  The prominence of unfamiliar words, abbreviations and phrases can add to the confusion, so here we offer a brief guide to some of the most commonly used ones.  Read more 

3. They Tax, We Export - Part 1 (Dealing with Latin American Import Duties)

 There are many obstacles in exporting to Latin America.  However, the one mentioned again and again by British businesses is import duties.  They hurt because they are unavoidable, they are non-negotiable and because anyone with a basic understanding of business finance can easily see how they affect the profitability - and the likeness - of exporting to these booming economies. Read more

4.  Banks enjoy finding Discrepancies

We constantly receive feedback from exporting companies frustrated by the apparent inflexibility of banks when examining documents presented under letters of credit.  The perception is that "banks enjoy finding discrepancies because of the fees they can earn.  Easy money!"  read more 

February 2017

1.  Timber!!! What is FLEGT

FLEGT stands for Forest Law Enforcement, Governance and Trade.  The EU's FLEGT Action Plan was established in 2003.  It aims to reduce illegal logging by strengthening sustainable and legal forest management, improving governance and promoting trade in legally produced timber.  The hoped for effect is that no illegal timber or timeber products can be sold in the EU.  Read more

2.  The Brexit Impact - What it Might mean for Exporters?

Since the referendum result was announced more than six months ago, the Brexit story has rarely been out of the headlines in our newspapers, TV and radio.  Early predictions of a sharp decline in the economy have proven to be wide of the mark - at least for now, leaving egg on the faces of many leading economists and business observers.  Last month, we heard the Prime Minister set out her vision for the country after we eventually leave the European Union.  It is now expected that Article 50 will be invoked by the end of March, effectively firing the starting gun for the process that will lead to the United Kingdom's departure from the European Union and it would seem, the Single Market and the Common Customs Union as well.  Read more 

 

 

 

3FTAs a Panacea or Placebo

Are they the Panacea, a Placebo or Just a Pain in the Articles?

We are seeing and hearing a lot about how the way forward post-Brexit is to ensure the UK has good Free Trade Agreements (FTAs).  We are even talking about having an FTA with the remaining 27-members of the EU.  But is having lots of FTAs the panacea that certain government ministers and spokespersons would like us to think or simply a placebo to pacify the unwary?  Speaking as someone who has worked in international trade trying to put FTAs into practice for 32 years, FTAs are a pain in the "articles"! read more

 

January 2017

1.  Tales from the Road - The Luck of the Draw

The timing of my training delivery in Kosovo last June was interesting, to say the least.  One of the themes of my training to a gorup of Kosovan export consultants from 28-30 June was 'how to trade with the European Union', five days after the UK had voted to leave.  The referendum decision was met with incredulity by the delegates because Kosovo had only signed up to a Stabilisation and Association Agreement (SAA) with the EU on 27th October 2015.  Their need for closer ties with the EU contrasted with the UK's apparent need to distance itself.  Read More 

2.  Product Modifications for Exporters

When a business begins to shift attention from the home market to export markets, it's really important to consider the product offering and be prepared tomake modification to make them suitable to local needs and expections. Read More

3Tales from the Road - For the Love of Flying

Back in November, I had the privilege to visit Mongolia to do some training for the Institute of Export.  During that week I experienced a range of different attitudes to Customer Care, Customer Services, 'the Customer Experience'. Read More

4.  Tales from the Road - Approach with Paranoia

Sometimes it is hard to find a line between caution and paranoia when travelling in an unfamiliar country.  I think there is probably an equation somewhere that places exhaustion along a sliding scale between the two.  I have known several occasions when either my sixth sense or my usual sense of reason has been blurred by an uncomfortable feeling of not being entirely in control of a situation.  Read more

5 A Cautionary Tale of Incoterms and Payment

How much though do you give to the underlying contract delivery terms when requesting letters of credit from overseas buyers?  Read more

 

 

 

 

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