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More often than not, an export transaction begins with a request for a quote from the buyer to the seller. The quote serves as a formal statement of promise by your firm that you will provide certain goods or services at specified prices and within an indentified period of time. Acceptance of the quote by the buyer constitutes an agreement binding on both parties.
Since a quote is so important, it will benefit you and your potential customer if you have a standard checklist that you use to identify the important details and items that are points of negotiation. The details also provide the buyer with the information needed to determine what they might owe in duties, fees and taxes.
The following checklist includes some of the facts about your firm, the products, and the transaction that should be agreed upon by the buyer (export) and the seller (importer):
The seller's name, address, contact information, and possibly its tax identification number.
The time when and the place where the merchandise is sold.
The buyer's full name, address, contact information, and possibly its tax identification number.
The ship-to party's full name, address, contact information, and possibly its tax identification number.
A detailed description of the merchandise including:
a) Harmonized System Number (first six digits of the Schedule B or HTSUS number);
b) Name by which each item is known;
c) Grade or quality;
d) Marks, numbers and symbols under which the merchandise is sold;
e) Currency;
f) Country of origin;
g) Quantity; and
h) Price per unit.
The country of shipment.
The relevant trade term and the location associated with the term, such as Incoterms 2010, Free Carrier At Your Forwarder's Facility, Chicago, IL USA.
All goods and services provided by the buyer for the product of the merchandise (e.g. assists such as tools, dies, molds and engineering work).
Additional information such as:
a) Import license requirements, if known;
b) Additional certifications and statements required by the buyer's country;
c) U.S. government issued certifications to be provided;
d) U.S. export controls (i.e. EAR99, ECCN or USML);
e) Where title will transfer from the seller to the buyer;
f) Method of payment;
g) Expiration date of the quote; and
h) Relevant law.
The quotation sets the stage for the negotiation that will follow and the successful completion of a sales contract with your foreign customer!
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| LBBR25 bearing | 25 | 35 | 40 |
| LBBR20 bearing | 20 | 28 | 30 |