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Understanding Trade Preferences and Export Credit Processes in International Trade

This document explores various trade preference programs such as the Harmonized System, the Generalized System of Preferences, the Caribbean Basin Initiative, and Free Trade Agreements like the Israel FTA and the Andean Agreement. It outlines the exporter's journey, from shipping goods and sending documents to securing payment through a letter of credit. The process involves coordination between the seller, buyer, banks, and different trade agreements, emphasizing mechanisms that facilitate international trade and payment security for exporters.

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Understanding Trade Preferences and Export Credit Processes in International Trade

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  1. Chapter 89 of the Harmonized System A, Generalized System of Preferences E, Caribbean Basin Initiative (CBI) Preference IL, Israel Free Trade Agreement (FTA) Preference J, Andean Agreement Preference MX,NAFTA Canada Preference CA, NAFTA Mexico Preference

  2. Seller (Exporter) Buyer (Importer) Contract Seller ships goods Seller sends documents to his bank Importer applies for credit: Credit Established Bank informs exporter Seller’s bank pays Exporter’s bank sends documents Importer’s “issuing" bank Exporter’s Bank Issuing bank pays Importer’s bank confirms buyer has credit

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