Written by: Corinne Campbell from Xdoc
Would you give your teenager the key to your car without them learning to drive safely first? Your child will need to learn the rules, learn to be defensive to avoid risks and refine his skills to gain confidence. NO DIFFERENT TO IMPORT EXPORT.
There are some defined rules a trader needs to be familiar with. A few can be mentioned:
- Incoterms® rules from the International Chamber of Commerce which have been revised in 2011 and compromise of EXW, FCA, CPT, CIP, DAT, DAP, DDP, FAS, FOB, CFR, CIF. Your contracts between importer and exporter should mention those terms, your freight forwarder will be wanting to know which one you have chosen and your costings / quotations will vary depending on which Incoterms® rules you have used.
- Payment Terms and methods can make a major difference in your bottom line. There are also some rules that may prevent movement of currencies. Some rules are regulated by the International Chamber of Commerce and although your Bank will be familiar with them, any trader should know the options.
- International freight forwarding Air transport is regulated by The Civil Aviation Safety Authority (CASA) and the International Air transportation Association (IATA) and for sea transport by the Australian Maritime Safety Authority (AMSA). Customs regulates all entries and exit of goods and Quarantines regulates the entry and exit of specific products commonly related to animals, plant and food.
- International trade rules are also regulated by the World Trade Organization (WTO) which includes Free Trade Agreements, and various trade blocks like APEC, EEC, NAFTA, MERCOSUR, COMESA, ASEAN, ETC…
- Mandatory Standards are divided in two rules: Safety Standards which requires the goods to comply with particular performance and packaging rules and Information standards which requires prescribed information to be given to consumers.
Crash risk is highest early in the probationary license period. One of the main reasons for the high crash risk is the lack of driving experience. Research suggests that between 50% and 70% of new driver crashes are the result of skill errors – a direct result of not enough prior experience. The more time you spend developing the skills that can prevent such crashes, the safer you will be. You will also learn more about the mistakes other drivers make and how to react to unexpected situations. To be calm and in control. It’s all part of being a skilled driver. NO DIFFERENT TO IMPORT EXPORT.
- The more you learn the less likely you will fail.
- The more time you spend developing your business plan including your trade readiness, marketing plan, processing methodology, logistical plan and financial plan, the more likely your business will survive.
- Being a skilled international trader is also about listening to other people’s positive and negative experience and learn from it as well as keeping up to date with rules and regulations in your trading countries.
Investing in an advanced Driving skills course for your teenager would put your mind at rest knowing that he will learn ways of approaching and dealing with all hazards that is methodical and safe, and leaving absolutely nothing to chance. NO DIFFERENT TO IMPORT EXPORT.
You have to try leaving the least possible to chance by understand how to deal with:
- Exchange rate fluctuation
- Non performance risks
- Credit and payment risks
- Country risks
- Transport logistics
- Fraudulent and dishonest parties
As per driving, spending some time learning, listening and talking to the experts will prevent you from failure which can be fatal to your business.
CORINNE CAMPBELL has built a national reputation in the export of Primary Products working initially for such icons as Dalgety Farmers and Elders in their trading departments and also works on projects with Universities and Government organizations around the World. With over 25 years experience as a global exporter, Corinne’s global and Australian focused educational manuals are widely utilized to help importers and exporters mitigate their risks by providing businesses with information, knowledge and education. She has developed a detailed and comprehensive understanding of international business documentation such as letters of credit; the legislation and international agreements which enforce them; and their generally accepted usage.
In 2011, Corinne won the Education and Training provider award by the Australian Import Export Industry recognizing supplier excellence.
As the Principal of Xdoc, Corinne has first hand experience of starting and running businesses. She maintains a strong involvement with businesses, in particular those start-up companies that are seeking an efficient and cost effective way to continue their expansion through export and/or import.
As part of the commitment to International Trade, Corinne designed a comprehensive introductory course in Import / Export. Over 80 courses a year are now running through business Colleges, Community colleges, Business Enterprise Centres, Government and Private organisations. Over 1000 people attend her classes and short workshops every year.
Corinne is also the author of the Comprehensive Import Export manual, the guide to importing and exporting, the guide to importing and exporting to Australia and co-author of various Incoterms 2010 guides.