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                  Step 1:
• Export transactions may begin with an
  inquiry from abroad for a price quotation.
  Find out how much they will pay. Locate a
  potential buyers though local trade
  associations.
                   Step 2:
• Get commitment of sale with an invoice,
  including terms of sale. (Including price,
  quantity, shipping dates, and delivery.)


                   Commitment
                     of Sale.


                  Price…$$$$
                  Quantity……
                  Delivery….
                   Step 3:
• U.S. exporter and
  foreign buyer agree
  to the details of the
  transaction.
                  Step 4:




• Buyer sends purchase order to the exporter.
                 Step 5:
• Exporter prepares commercial invoice.
  (Includes dates.)
Step 6:

          • Buyer
            arranges
            through its
            bank to open
            a letter of
            credit.
                   Step 7:
• Buyers bank issues the letter of credit to the
                            exporters bank.
                  Step 8:
• U.S. bank prepares a letter of confirmation.
 Step 9:


• Exporter selects carrier and
  transmits the bil-of-lading and
  delivery instructions. The
  carrier prepares dock receipts,
  which will be signed after
  delivery.
                Step 10:
                 • The exporters send the
                   invoice and export
Dear Carrier,
                   documents (Bil-of-
                   lading, dock receipt,
Bil-of-lading
Dock Receipt
                   packing list, and letter
Packing List       of instruction.) to
Letter of
Instruction        carrier.
                 Step 11:
• Carrier selects shipping vessel and books
  space.
Step 12:




           • Carrier delivers
             the goods to
             prearranged
             recipient.
Step 13:


 • After receipt and
   acceptance, the
   exporters bank pays
   accordance with the
   letter of credit
   previously issued by
   the buyer’s bank.
               Step 14:



• Evaluate your
  process so it’s
  easier next time.
   Made by,

Devin French
    And
  Jennifer
 Middlemiss

				
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posted:4/28/2012
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