Company Name:
Lishui Huanqiu Bearing Trading Co., Ltd.
Company Address:
No.11 Shiting Road, Shuige Industrial Zone,Lishui, Zhejiang,China
Contact Person: William
Email: admin@tradebearings.com
Homepage: www.asiabearings.com
Bearing B2B: www.tradebearings.com
As an exporter of goods or services you will need to be aware of and consider insuring against the risks of:
• loss of or damage to goods in transit
• non-payment for your goods or services
• the cost of returning to your premises any goods that a buyer abroad refuses to accept
• political or economic instability in the buyer's country
• a new customer's credit worthiness
• currency fluctuations
• a fault that causes an end-customer to sue
If you are an importer, you may need to take into account:
• possible loss of or damage to goods in transit
• supplier problems, including failure to supply
• transport delays and potential hold-ups at ports
• the risk of performance or health and safety problems
• import duties
• storage of goods in bonded warehouses
• currency fluctuations
The responsibility for organising insurance can be shared between the importer and exporter, or be taken on by just one of them. When you agree the terms of a contract, it is advisable to use one of 13 International Commercial Terms ) - eg Free on Board or Cost Insurance Freight.
Incoterms clearly clarify who has responsibility for freight, insurance and other costs. They also determine when ownership of the goods passes from buyer to seller.
When you trade internationally, you should also take steps to protect your business against changes in the exchange rate. You will also need to consider when and how best to make or receive payments in currencies other than sterling.
