Coal mine imports in the United States and Canada

Hello, I am studying in America. Before I came here, I worked in domestic import and export trade for 6 years, and my major was international trade. I want to share my personal views with you.

In INTERCOMS 2000, FOB (Free on Board), the mode of delivery is that the goods cross the ship's rail at the export port. If you have any questions about this clause, there are probably the following situations:

1. Before delivery, the customer's payment was not fully received;

2. The customer colludes with the shipowner to cheat the goods. Usually, the bill of lading needs your signature and seal to release the goods. If they collude with each other, this legal procedure will be gone.

Your payment terms are letters of credit.

When you purchase from suppliers, you need to pay special attention to:

1. A legally binding procurement contract-Chinese and English versions, with agreed jurisdiction. It's best not to write about your own country, sometimes foreigners despise it even more. Because the import of coal is particularly large (if you are a bulk carrier), you must consult a lawyer to see if all the terms of your legal documents are valid and unambiguous;

2. Understand foreign commercial organizations. You can check the ratings of American and Canadian businesses at BBB. Don't do business with institutions without credibility. You'd better ask your business partner to fax you their company's license for verification.

3. The subject matter of the contract, delivery date and payment method: find something that is beneficial to you.

All export taxes are levied in the exporting country.

The letter of credit you opened in your own bank has nothing to do with the customs in the United States and Canada. A letter of credit is a legal document, which guarantees the payment to the beneficiary with the credit standing of the bank. Your customers will read your letter of credit before giving you the goods.

The above is my personal experience. For your reference. I hope your import goes smoothly. You can leave me a message if you have any questions.