Shipping & Payment

Trade is a process. It begins when someone makes an inquiry about your product and ends when you are paid for the product. Here are some guidelines for those steps – and everything that happens in between.

Handling Inquiries

Competition is fierce. For your business to succeed in an international market, you need to respond to inquiries quickly and professionally.

Inquiries can be general or specific. A general request for information can usually be met with a simple product brochure and price list. Other inquiries are more specific and demand a detailed breakdown of all costs, including product costs, ancillary fees, and mark-up. Detailed price quotations should also include the cost to deliver the goods according to the method agreed upon with the buyer.

Here are some things to consider when responding to inquiries:

  • Avoid inquiries that are form letters or do not appear legitimate.
  • Calculate the shipping costs according to specifications agreed upon with the buyer.
  • Verify that the buyer is trustworthy before committing to any agreement.

Shipping Goods

Success! You landed your first order. Now you need to move your product to its destination. All products shipped abroad must be:

  • Documented accurately to meet trade requirements.
    Failure to comply with the documentary and regulatory requirements needed to move packages out of one country and into another can delay your shipment and payment or result in the seizure of your goods. In the worst cases, you could be fined or jailed.
  • Insured to protect against damage or loss.
    Protect your goods against delays, losses, or damage with cargo insurance. Although the buyer is responsible for the cargo under certain terms of sale, you could be at risk if the buyer has inadequate coverage or fails to get coverage.

If you are not familiar with the documentation, insurance, and regulatory requirements needed, you can use a freight forwarder to do some of this work for you.

Pennsylvania’s ports remain a highly effective way to move your products to markets worldwide. There are many benefits of shipping your goods by water.

Need more information on preparing and shipping your goods?

Check out the following resources:

Getting Paid

Timely payment is critical to any business. Protect your company by selecting the payment method that works best for you. Common payment methods include cash in advance, letters of credit (view sample), bank drafts, open accounts, consignment, and countertrade.

The Center for Trade Development and Regional Export Network can help you determine which payment option is best for your business. They can also help you with insurance that can, among other things, reduce your risk of non-payment. Contact them at (717) 787-7190 or trade@newpa.com today to take advantage of this free consultation.

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