7 Terms Commonly Used in the Importing Process
14 Jul

7 Terms Commonly Used in the Importing Process

If you’ve decided to be an importer who’s simply interested in making profits, we’re going to stop you right there – it’s not a smart decision and might cost you immensely.

The importing market is not one to be taken lightly since there are plenty of fines and legal repercussions that you might incur if things go south. So, you must have a complete understanding of how the market works.

The first thing to know is your responsibility as an importer, which we have already discussed in our previous post. We’re going to talk about the importance of having a clear understanding of the terms and parts involved in various steps throughout the importing process.

If the terms bill of ladingquay, and dumping leave you with a question mark in your brain, you’ve come to the right place. Keep reading to learn what these and many other terms imply.

Customs and Border Protection Agency An agency of the US Department of Homeland Security developed to regulate international travel and trade (imports, basically) into the country. Their responsibilities include examining import paperwork, so importers need to be confident they have the paperwork in check.

Bill of Lading This is a legal document issued by the carrier to the shipper including details such as the type, quantity, and destination of goods and where the commodity will be imported.

Quay This is essentially a structure on the shore where ships dock to load and unload their shipments.

Commodities This refers to the shipments, products, and items that you intend to import.

Shipping Agents Shipping agents are the people who deal with the ship’s transactions at every docking port.

Dumping In international trade, dumping is when a country or company exports a product at a lower price in the foreign importing market than the price in the exporter’s local market.

Licensed Customs Broker These are experts on the rules, regulations, and paperwork needed to import in the United States. Basically, they know everything there is to know about importing.

P.S. – Feel free to check out the brief guide we’ve created on the 10 basic rules of Importing into the US. It’s quick, easy, and makes the entire process a breeze, so don’t forget to check it out!

We understand that the shipping industry is complex, so understanding the rules, regulations, and industry jargon can seem a little overwhelming. Well, we’re here to tell you that you’re not alone!

At IZZI Logistics, you’ll find experts in providing international logistics services, who you can count on to be your go-to people for successful trading. We will be there to guide you through your entire journey, every step of the way.

We understand that every client, whether a beginner or a seasoned importer, has different requirements and queries. Therefore, we take our time to understand our clients and provide tailor-made solutions.

The best part? When you call, you won’t have to experience robotic voices with unhelpful solutions. You’ll be pleasantly surprised to find a real human being with real advice on the other end of the line.

Just tell us what you need by scheduling a kick-off call and we’ll take it from there – because we’re Always Ready, Always IZZI.

Stay tuned for part 3! Hint: It contains some critical information you need to know regarding the US CBP Policies to ensure successful trading, so don’t miss out on it!

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