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Trade Procedures

Trade Procedures. Overseas Market Research -> Finding out Buyers/Sellers -> Meeting & Negotiation for Price term, etc and contract -> Export & Import Contract concluded (offer sheet, Purchasing Order, Sales Contract, etc) ->Arrival of L/C(or Opening L/C)-> Export

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Trade Procedures

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  1. Trade Procedures Overseas Market Research -> Finding out Buyers/Sellers -> Meeting & Negotiation for Price term, etc and contract -> Export & Import Contract concluded (offer sheet, Purchasing Order, Sales Contract, etc) ->Arrival of L/C(or Opening L/C)-> Export License(Import License)->Preparing Goods -> Export(Import) Customs Clearance –Shipment ->Preparing shipping Documents -> presentation of documents -> Get a money -> Customs Refund & Checking Receipt of Money

  2. Trade Terms E/L: Export License. I/L: Import License. E/P: Export Permit. I/P: Import Permit S/R: Shipping Request VS FOB (Free On Board) CFR (Cost and Freight) CIF (Cost Insurance Freight)

  3. Payment Terms • Letter of Credit(L/C) – UCP 600 2. Cash 3. D/A (Documents Against Acceptance) D/P (Documents Against Payment)

  4. Contract Sheets (1) Offer Sheet (2) Sales Contract (3) Order sheet (4) Purchasing Order (5) Proforma Invoice (6) Agency Agreement (7) Joint Venture Agreement (8) Technical License Agreement

  5. Shipping Documents(Trade Forms) C/O = Certificate of Origin Commercial Invoice Packing List Quality/Quantity Certificate Bill of Exchange Insurance Policy Bill of Lading GSPCO(Generalized System of Preference)

  6. First and Second Week - Application of Trade Business Code - Offer sheet - Purchase Order -Doing Trade Procedures for manufacturers -Letter of Credit Letter of Credit for exporting Letter of Credit for importing

  7. Third, Fourth, Fifth. Sixth Week • Export License Application • Import License Application • Export Declaration • Import Declaration • Local L/C • Application for Letter of Guarantee • Trust Receipt

  8. Seventh, 8th Week • Bill of Exchange • Negotiation Application • Bill of Lading • Commercial Invoice • Packing List • Insurance Policy • Mid Term (중간시험)

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