Inspecting Foreign Goods for Trade
Part of the Video Series Foreign Trading Tips & Advice
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Video Transcript
Inspecting Foreign Goods for Trade
This is Nikolai Pankratz with the American Resource Network for Expert, Expert Village. Now assuming that you have that all in place, I would highly recommend that you go to that country and the first shipment that you actually oversee that ship. Now say for example, we pick the region that I actually myself have a lot of experience in. Which I had to go to the Black Seas area, and that's where certain species grow in the southern part of the, of Russia, that that we were looking for. Well when you go there, you know, you suddenly run into different many obstacles, transportations, beaten up cars. There was no communication. And many times, it would take days for you to get in touch with a person that is actually supposed to deliver the goods. So be patient with it, but assuming everything is under control, and you finally went, you inspected, you did what is necessary. And you're pleased and now you're moving forward with an actual delivery. The cutting, the delivery, and this is where it gets a little bit hairy, because now we're talking, we're bringing in the banking system in, we're bringing in government, Russian, American government and a line of documentation that will have to go with the shipment, that goes with the shipment to whatever place you want to do. Many, many times you don't have to deliver to America. Your buyer might be somewhere in Asia you know, or in Europe. And all that is possible with today's technology and many times you will not even see the container or whatever. It's just once you get it down, it will go through the Black Sea port, through the Suez Canal to whatever place. But we're going to talk next about the letters of credit and documentation.
This is Nikolai Pankratz with the American Resource Network for Expert, Expert Village. Now assuming that you have that all in place, I would highly recommend that you go to that country and the first shipment that you actually oversee that ship. Now say for example, we pick the region that I actually myself have a lot of experience in. Which I had to go to the Black Seas area, and that's where certain species grow in the southern part of the, of Russia, that that we were looking for. Well when you go there, you know, you suddenly run into different many obstacles, transportations, beaten up cars. There was no communication. And many times, it would take days for you to get in touch with a person that is actually supposed to deliver the goods. So be patient with it, but assuming everything is under control, and you finally went, you inspected, you did what is necessary. And you're pleased and now you're moving forward with an actual delivery. The cutting, the delivery, and this is where it gets a little bit hairy, because now we're talking, we're bringing in the banking system in, we're bringing in government, Russian, American government and a line of documentation that will have to go with the shipment, that goes with the shipment to whatever place you want to do. Many, many times you don't have to deliver to America. Your buyer might be somewhere in Asia you know, or in Europe. And all that is possible with today's technology and many times you will not even see the container or whatever. It's just once you get it down, it will go through the Black Sea port, through the Suez Canal to whatever place. But we're going to talk next about the letters of credit and documentation.
About the Expert
Expert: Nikolai Pankratz is a German born entrepreneur with an impressive background in music, international banking, and foreign trade. Read More
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