The International Trade Administration (ITA) published the State Reports for Exports in 2012. Below are a few of the highlights for the uppoer midwest States. According to the ITA: Minnesota Exported $20.6 Billion in merchandise shipments in 2012. $6.0 Billion in merchandise Exports to Canada $2,0 Billion in merchandise Exports to China $ 1.3 Billion in … [Read more...]
Why shippers should insure their cargo.
Although you thought you packed your shipment correctly, loaded it carefully on the truck or container as soon as it left your dock it was out of your control. The carrier’s goal is to deliver your cargo safely, but sometimes goods get damaged or worse - lost in transit. When this happens what are you covered for? What would a carrier be obligated to pay for a freight claim … [Read more...]
New Export Reporting Requirements effective January 8, 2014
The Bureau of the Census (Census Bureau) has added new export reporting requirements to the Federal Trade Regulations (FTR) and has published these new requirements in the Federal Register. These changes include adding two data elements, modifying the post departure filing program, and remedial changes improving clarity and to correct errors. The changes will be implemented … [Read more...]
Incoterms 2010 Overview
INCOTERMS 2010 IncoTerms can be confusing for many, I know I had a difficult time understanding them when I got into the industry. I am going to try to explain them in a way that helped me understand them, hopefully it will be helpful for you. Do not take this in lieu of legal advice, this is just my best attempt at explaining these terms. What and … [Read more...]
Are you legally exporting? A case from the Department of Justice
The Department of Justice charged via criminal complaint of conspiring to violate the International Emergency Economic Powers Act. In violation of trade sanctions against Iran (state sponsor of terrorism), this person has been accused of allegedly exporting thousands of dollars of industrial parts manufactured by U.S. companies to Iran. If convicted, this person faces a … [Read more...]