Foreign trade broker
The products that an international trade broker represents on behalf of exporting entities might be anything for which there is demand. When attempting to export goods to a third-world country, for instance, a broker might attempt to build relationships with businesses that make products that will further social and economic development in that region.
A broker could choose a niche and specialize in facilitating export transactions for a certain type of goods. To demonstrate a certain standard of performing business, a trade broker might earn an industry certification.
This designation can help in creating new business, especially as a new broker. In addition to earning a formal designation, broker professionals who participate in global trade independently or through another organization often join industry networks to keep current with commerce regulations.
He or she connects a buyer and seller and collects a commission in the process. Brokers should not cold-call. Instead, look to your immediate area for business.
Once you have a source, then you set out to find a buyer. This requires a lot of research. Develop an international marketing plan and use government resources. Additionally, if the business has never exported, they will need an export management plan and they need to have the systems and processes in place so that the international sale goes well. As a broker, you should have an contractual agreement in place that outlines your commission, how and when you get paid, and any other requirements minimum orders, etc.
It is best if you have knowledge, so learn as much as you can. One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days.
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This Day in History. Trade operations in national territory are done through a Cuban importing company or trade agent. After three years as minimum stipulated by the Ministry of Foreign Trade and Investment and with a volume of business with Cuban entities not less than thousand USD yearly, the company will be able to request before the Chamber of Commerce of the Republic of Cuba the opening of a branch in Cuban territory.
If interest contacts Procuba about this offer or other activities it performs, you can contact: Avenue, Miramar, Playa, Cuba Phone: General Custom of the Republic. You can find in www. Supervision and inspection of merchandise.
The institution of the system of Foreign Trade, Cubacontrol, offers specialized services of supervision and inspection of merchandize, consulting and quality engineering. Given that the volume of operations and by specific request of its clients, this institution has offices in Venezuela and Russia and maintains permanent supervisors in Mexico, Argentina, Brazil, Panama, China and Viet-Nam.
For contact with the company to: Cuban banking has a governing institution that is the Central Bank of Cuba and whose mission is:. You will find in its web site more information as well as information on other institutions related to Cuban banking that may be of interest. The Incoterm rules explain the group of commercial terms of three letters that reflect the use between companies in the contracts of purchase and sales of merchandize.
The Incoterm rules mainly describe the tasks, costs and risks implied in the delivery of merchandize from the sales company to the purchasing one. In an update was presented of a package of terms. This update intends to simplify the codes eliminating 4 Incoterms of but 2 new ones appear. The codes that have disappeared from the Incoterms are the following:. Among the multi modal Incoterms 2 new codes have been included: Also, it avoids the double invoicing of loading in the origin to the seller and the buyer that is produced with the previous explanation of the code.
On the other hand the exporter also acquires the responsibility of loading in the port of exit but transmits it to the purchaser at the moment the merchandize is loaded on board the ship. It offers coverage to all Cuban and foreign interests in the country in which it is the insurer of the largest companies and national and foreign corporate groups operating in Cuba.