Importing and Exporting Seminar

The Hull & Humber Chamber of Commerce together with HM Revenue and Customs is delivering an 'Importing and Exporting: What you need to know' seminar on 5th November. Please click here for further information.

World Trade @ 1 - Season 2 Launch

World Trade @ 1 is returning for a 2nd season on Wednesday, 1st October at the World Trade Centre Hull & Humber. Our opening event will see Dominic Ward, Partner in Andrew Jackson and shipping and international trade specialist, share his knowledge and expertise. Please click here for further details.

The Chamber Speeds Up Production of Export Documentation With the Introduction of e-Cert V5 and e-Cert eXpress

This is good news for exporters looking to maintain competitive edge in a tough international market place. Please click here for further details.

Foreign & Commonwealth Office Change of Address

On Friday 8th August 2008 The Legalisation Office, Consular Directorate, of the Foreign and Commonwealth Office will relocate to Norfolk House (West) in central Milton Keynes, The move means that the Legalisation Office will have more space and staff to generate improved customer and process applications more quickly.

New address :
The Legalisation Office
Norfolk House (West)
437 Silbury Boulevard
Milton Keynes
MK9 2AH

FREE FACILITY FOR EXPORTERS

www.exportuk.co.uk provides a free facility for exporters to advertise in the markets where they seek a local sales partner or distributor. It also allows free addition to its exporters database, which makes it easier for products to be found by buyers overseas and sourced from Britain. For further information please contact UK Exporters Ltd. 157 Redland Road, Bristol. BS6 6YE. United Kingdom. Email : info@exportuk.co.uk

FACTORING AND FORFAITING

Forfaiting and factoring both allow exporters to discount their receivables for possible vital cash up-front. Both methods are highly traditional trade financing techniques provided by banks. Both facilitate payment of a high percentage of the invoiced amount to the supplier very soon after the delivery is completed, eliminating concerns over late payment and cash flow worries. A key difference is that forfaiting can offer medium term financing facilities, possibly up to seven years, whereas factoring is a facility for short term finance.

Factoring: Step- by -step guide
* First, the factor (lender) determines if your business fits its profile
* The factor analyses your receivable, checking the credit of your customer and the validity of the invoice
* Once verified, the factor advances approximately between 70% and 80% of the face amount of the invoice>br> * When your customer submits payment, usually to the factor, a factoring fee is deducted from the receipts. The fee may range from 1% to 4% of the invoice total depending upon when the customer presents payment

Forfaiting: Step-by-step guide
*The exporter initiates by negotiating a sales agreement with the overseas buyer and discussing a possible purchase order
* You then contact the forfaiting service provider to advise details of the sale
* The forfaiter will advise you on the level of risk presented by the buyer's market, also confirming if a bank guarantee will be required
* Forfaiter advises you by how much they are prepared to discount the debt
* You can now create a pricing structure to cover the discount and continue negotiations with the overseas buyer
* When the sale is confirmed, the debt burden passes from the exporter to the forfait supplier

Nigeria

All imports into Nigeria must be accompanied by a Manufacturer's Certificate confirming the standards used in the production of goods. Also the Nigerian authorities have placed a ban on a variety of goods in a move to protect local industries. A full list of prohibited imports can be obtained from the Nigerian High Commission in the UK

Incoterms

The current set of Incoterms is the 2000 millennium set, which is currently being reviewed by the International Chamber of Commerce with the objective that a revised set will be published in 2010. It is clear that some misunderstanding exists in the use of the terms and the printed guide notes contain an element of vagueness and lack of definition. There now exist an opportunity to make your feeling known and lodge your comments and criticisms with the ICC. For more information please contact ;

ICC United Kingdom
12 Grosvenor Place
London SW1X 7HH
Tel 020 7838 9363
Fax 020 7235 5446
Email : katherinededezade@iccorg.co.uk

Customs Information - Merchandise in Baggage

Any travellers who import or export commercial goods or samples in their accompanied baggage or private vehicle should please read the attached Customs Information Paper.

A.TR Backup Amendment

Customs Procedure Code (CPC) for permanent export has changed from 10 00 01 to 10 00 001. Please click here for further details.

Access Commodity Codes Free of Charge

The free online UK Trade Tariff (Volume 2) - the commodity codes was launched in the last week of March 2008. This is a very useful website that is still under development but as the International Trade Single Window (ITSW) it provides a lot of free information to UK traders. Traders can already access the EC Commodity Code free of charge. Called TARIC, it can be accessed via the Europa website. We have not seen any plans on issuing the whole of the UK Integrated Tariff for free, but have heard it mentioned that this is being looked at for the future and HMRC is currently undertaking a survey on how traders and forwarders use the "tools" they provide.

Requests for EUR1 Legalisation

EUR1 is a document belonging to HMRC and the Importing Customs Authority. No stamps other than the allocated UK Customs Preference stamp should ever appear appear anywhere on the certificate. Please click here for further details.

2008 Edition of the Common Customs Tariff of the European Union

Launch of the World Trade at One Club

The World Trade at One Club will be launched on Tuesday, 13th November at Cleethorpes Town Hall. Ian Campbell, dubbed by the Financial Times as "the voice of Britain's exporters" will be the guest speaker. Please click here for further information.

EUR1s to Israel

Israel is no longer accepting handwritten EUR1 certificates.

Legalisation

If you require documents to be legalised by the UK offices of a particular overseas Chamber of Commerce, a specific embassy, consulate or the Foreign and Commonwealth Office the Hull and Humber Chamber of Commerce can arrange this for you. Please click here for further details.

International Trade with HSBC

With more than 9,800 offices in 77 countries and territories HSBC has enviable global coverage and the knowledge that comes with operating their own business worldwide. In the UK they combine this global capability with experienced specialists on the ground. Please click here for further information.

Customs Form C1300 - EUR-MED Certificate

Please click here to find out about the latest developments with the EUR-MED Certificate.

QuickCert - not a valid service

Letter of Credit Service

Contact the International Trade Centre of the Hull & Humber Chamber of Commerce when you receive notification of your next Letter of Credit. Please click here for further information about this service.

Need Help Exporting or Importing?

The Hull & Humber Chamber of Commerce International Trade Centre brings together within one team the expertise and services to give businesses access to a quality range of services, advice and support, to enable successful overseas trade. Please click here for further information.

GSP Form A Replacement Certificates

From 1st November 2005, many of the HM Revenue and Customs Offices throughout the UK will no longer process GSP Form A Replacement Certificates.

ISPM15 - International Phytosanitary Standard For Wood Packaging

The International Trade Centre hosted a seminar, kindly sponsored by Crating Solutions Limited, to highlight new regulations applicable under the latest regulations covering timber packaging.

ATR Documentation for Turkey

British Chambers of Commerce (BCC) have announced a partnership agreement with HMC&E which paves the way for the Hull and Humber Chamber of Commerce to begin issuing ATR Movement Certificates for Turkey alongside their existing export documentation services. The involvement of the Hull and Humber Chamber of Commerce is expected to begin on the 1st June 2005 and will operate from two Humber region offices.

Please note that Adobe Reader is required and this can be downloaded free of charge from the Adobe website.

Chamber to issue EUR1 Movement Certificates

British Chambers of Commerce (BCC) have announced a partnership with Her Majesty's Customs & Excise which paves the way for Hull & Humber Chamber to issue EUR1 movement certificates....(Click for more)

LIBYA - New Procedures

The Peoples Bureau of the Socialist People's Libyan Arab Jamahirya based in London have stated that with immediate effect all documents AFTER CERTIFICATION ONLY BY A UK CHAMBER AND THE ARAB BRITISH CHAMBER must be returned to the Consignor. The consignor must then present the document direct to the Embassy for legalisation.

For further information please contact:
Colin Plant
Documentation Department
The International Trade Centre
Hull and Humber Chamber of Commerce
Telephone 01482 611887
Fax 01482 611864

Regulation of Wood Packaging Material Used in International Trade

Wood packaging material, such as pallets and dunnage, used for International Trade to be heat treated or fumigated with methyl bromide (USA, Canada and Mexico)...Click for more

Compulsory Product Certification System for Imports into China

Effective on August 1st, 2003, all products included in the new "Compulsory Product Certification System" list will be banned from access to China if they do not carry a new formal quality certificate provided by the Chinese Administration. Click for more