Munmun Singh

The Bureau of Industry and Security (BIS), which is an agency of the United States Department of Commerce, implements and enforces the Export Administration Regulations (EAR). The EAR regulate the export and reexport of most commercial items, and some military items. Many items that BIS regulates are referred to as “dual-use” because they have both commercial and military or proliferation applications, but some military items, and purely commercial items without an obvious military use also are subject to the EAR.

Documentary Collection (including Bills of Exchange) can be another option to be considered when negotiating a contract of sale. Collections can be either at sight or term, also depending on contract of sale terms. If the collection is at sight, that is Documents Against Payment (D/P Sight), the Importer/Buyer must pay the amount of the collection, before they receive the documents that are needed to clear the goods. If the collection is at a previously negotiated agreed term, that is Documents Against Acceptance (D/A xxx days/xxx days from shipment date), the Importer/Buyer is usually required to accept a Bill of Exchange before documents are released.

Unit labor cost refers to the amount of personnel expenses to make one item of your product. Knowing your total cost per unit can help you plan your pricing, see how different sales levels affect your gross profits, understand how changes in sales volumes will affect your profit margins and determine if you need to make changes to your production methods. You may also hear the term “unit labor cost” used in macroeconomic discussions referring to productivity relative to an economy.

Here’s a list of challenges I’ve seen shippers encounter time and time again: 

1. Determining the best option Freight can be moved from point to point in a number of different ways. While it’s convenient to have options, many shippers are overwhelmed or simply unaware of the many different choices they have. From LTL to full truckload, you have to understand which option will be the most efficient for you and your team. Plus, understanding the shipping landscape could save time and money at the end of the day.
2. Finding the best rates Looking for the best freight shipping rates can be time-consuming when not equipped with the right tools or processes. Often times, shippers have contracts in place (hindering flexibility) or have to make multiple phone calls just to find the best rate for one shipment. Locking in your rates ahead of time will help you ensure you have the best price moving forward. Otherwise, you could be hit with a higher number later down the road.
3. Preparation and documentation We have seen many instances where shippers just simply aren’t prepared to take on the process. From filling out the bill of lading to identifying freight classes, one misstep can result in surcharges, delays, or customs holds when shipping internationally. Be sure to prepare yourself ahead of time with the necessary knowledge to get the job done.
4. Tracking Unfortunately, freight shipping is sometimes delayed by factors outside of anyone’s control. As a result, we have seen a number of shippers struggle to keep track of where their shipments are at a given time. Having online tracking tools in place, or partnering with a provider, is an effective way to overcome this challenge. Once you have complete visibility into your shipment, you’ll be able to stay ahead of any issues or delays that arise along the way.

The Combined Nomenclature – laid down in the CN Regulation – is the EU's system for classifying traded goods. It comprises: 1.) basic rules 2.) an annually updated list of goods categories, with a code of up to 8 digits and a description 3.) explanatory notes which are published regularly. You can find the latest one on the page on "Combined Nomenclature" of Directorate General Taxes and Customs