The Global Trade Export Cycle

The Global Trade Export Cycle

 

• Customer Approval
  Before an order can be approved, the buyer must be checked against restricted and denied party lists.
• Sales Order Receipt
  Entered into your CRM (Customer Relations Management) system.
• Order Approval
  Additional screening may be required if the product is a restricted export or is subject to regulatory compliance in the destination country.
• Transport Insurance
  Preferably from a 3^rd party.
• Receipt of Financing
  Either a letter of credit, open account, or other acceptable promisory note would be required before shipment.
• Carrier Selection
  Who is going to ship the product and how are they going to ship it?
• Document Creation
  Local Customs, affected Government Bodies, Ports of Exit, and Carriers, to name a few, are going to require the proper documents before the goods will be allowed to move.
• Shipment Tracking
  Probably using RFID and an on-line web-portal that lets the buyer know when their goods reach certain checkpoints.
• Exportation
  If all of the documents were properly created, the goods are allowed to leave the country.
• Goods Delivery
  After they are imported into the buyer's country, a goods receipt is created by the buyer and sent to the supplier's system.
• Invoice Creation
  An invoice is generated by the CRM system and sent to the buyer's system.
• Payment Receipt
  The buyer sends an electronic payment through an e-Payment system or gateway.
• Reconciliation
  The payment is reconciled with the invoice.
• Tax Reclamation
  If the exports included refundable value added tax, for example, the appropriate data is collected and documentation created for tax reclamation.