Linda Mitchell

Hello Sarah! The benefit of the entrepot in the past was that it removed the need for ships to travel the whole distance of the shipping route. The ships would sell their goods to the entrepot and the entrepot would in turn sell them to another ship, removing the large risks associated with long distance travel in the past. It is also valid for our days. --- Still, nowadays, a real benefit from re-exporting is the profit for the trader as he is being relieved out of the import duty, by which the value addition to the cargo will only be permitted on bonded warehouse facilities under the supervision by the customs. Therefore, the real purpose of entrepot is to sale to the other country at higher price than imported from the other country. ---Additionally, the entire country involved in the entrepot trade will benefit from it. This facility in the trading business will open up a huge potential of the country in the global market by trading products of other countries in order to generate more revenue based on external resources of the country and to promote the allied services for employment generation. Entrepot trade will provide the country with a relatively easy method of earning foreign exchange either by value addition or by re-exporting at a higher value.

Dear Teresa, from what I know, for Ocean Freight Shipping we need following documents: Freight Shipping Forms, Bill of Lading, Commercial Invoice, Certificate of Origin, Inspection Certificate, Destination Control Statement, Shipper’s Export Declaration (SED) and Export Packing List, Insurance Certificate. Hope this helps!

The term trade is a basic economic concept involving the buying and selling of goods and services, with compesation paid by a buyer to a seller, or the exchange of goods or services between two parties. Trade can take place within an economy between producers and consumers. International trade allows countries to expand markets for goods and services that otherwise may not have been available to it. As a result of international trade, the market contains greater competition and therefore, more competitive prices, which brings a cheaper product home to the consumer.

Probably you should know that companies export products and services for a variety of reasons. Exports can increase sales and profits if the goods create new market or expand existing ones. Companies that export spread business risk by diversifying into multiple markets. Exporting into foreign markets can often reduce per-unit costs by expanding operations to meet increased demand. What I want to mention is the following, companies that export into foreign markets gain new knowledge and experience that may allow the discovery of new technologies, marketing practices and insights into foreign competitors.

To explain it briefly, the importer number (requested on Customs and Border Protection (CBP) entry paperwork) is usually the IRS business tax number assigned to businesses. If you do not have an IRS business tax number, you may use your social security number in any paperwork requiring an importer number. If you do not have either an IRS business tax number or a social security number, you may request that an importer number be assigned to you by filling out a CBP form 5106 and present it to the Port of Entry in your location where you will be filing your customs entries. The regulations governing the issuance of an importer number are in 19 CFR 24.5.