• Hello Customer - Log in or Register!
Date: 2013-08-05

The challenges of sourcing overseas

Trading with overseas businesses differs from trading within the UK. New challenges are raised by the distances involved, by variations between countries, and by rules that govern international trading.


Legal considerations

It's not safe to assume that the same rules will apply overseas as in the UK, particularly when dealing with a country outside the European Union (EU). Factors to consider include:


whether there are import or export restrictions at either end of the transaction

whether technical standards in your supplier's country meet UK requirements

who is liable if a product causes harm or loss .

whether your imported goods infringe any intellectual property rights

who bears insurance costs at each stage of transit.


Other considerations

There is a range of other factors you should bear in mind:


Language differences matter. It's not just a question of communication - make sure any labelling or other printed materials are error-free.

Payment methods for international transactions are a bit more complicated.


Shipping procedures are also more complex, given the increased distances and the need to cross borders.


Understanding the business and social practices of your supplier's country can help build trust and develop relationships. However, remember that UK consumers may judge you on the business practices of your suppliers.


Think about how many suppliers you need. If you have too few you risk suffering supply-chain disruption if they have problems. If you have too many your managerial burden will increase.


The origin of your goods can affect the level of duty you pay. Some goods attract a preferential rate of duty, so you need to check the source of your supplier's raw materials. The best way to do this is to visit your suppliers.


The EU Authorised Economic Operator certification scheme is aimed at reducing risks.


 

 

( liyy )16 Jun,2011


Previous: Uniform customs and practice for documentary credit
Next: Manage the risks of importing

Hot Products:
Product Model Inside Diameter Outside Diameter Thickness
23132AX NACHI 160 270 86
23132EX1 NACHI 160 270 86
【TradeBearings News Statement】

1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.