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Last Update: October 2011

Getting your product to market

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UCP 600 are the latest revision of the uniform customs and practice that govern the issuance and use of letters of credit.

For more Information regarding the UCP 600, Please use the Business link below:

Business Link International Trade
 

Exporting

Exporting for the first time is not always easy, you have to follow some steps and to be well prepared for a new market. Please take a look at the following guides, as they will help you by providing important information about how to export your product.

Getting Started in International Trade

This briefing is for companies, especially SMEs (small to medium sized enterprises) that are looking to expand their business or searching for new markets. It aims to help you take the first steps in the export process and exploit the opportunities of international trading. In a simple checklist format, it gives you important information about developing an export strategy; the business issues you need to consider and where to go for help.

Source: SITPRO and Business Link

 

Exporting Goods from the UK

This briefing is about exporting goods from the UK to a customer in any country that is not a member state of the European Union (EU). It gives basic information about: best practice when dealing with contract and payment issues with your trading partner, commercial documentary requirements involving international movements of goods and official export requirements.

Source: SITPRO and Business Link

 

Guide to importing and exporting: Breaking down the barriers

For anyone wishing to send goods out, or bring goods back to the UK from non EC countries

Source: HM Revenue and Customs

 

Financial

When you're selling your product abroad it is sometimes difficult to have securities about the payment and the financial guarantee, it depends on how reliable you consider the buyer to be. Exporting in another currency can also be a source of risks. Here are some reports explaining and helping you with these questions.

Please feel free to print as many of the following briefings as you require. They are all available in webpage and pdf versions:

 

Methods of Payment in International Trade

Source: SITPRO and Business Link

 

The Foreign Exchange Market

This Briefing explains the risks involved with sales and purchases made in a foreign currency, and the actions you can take to reduce the risks and help you to remain competitive internationally.

Source: SITPRO and Business Link

 

Demand Guarantees

This Briefing explains what is a Demand Guarantee and using simple easy to follow flow charts tells you what types are available and how they work. The Briefing also highlights some of the pitfalls to watch out for when using Demand Guarantees.

Source: SITPRO and Business Link

 

Letters of Credit - An Introduction

This Briefing explains what is a Letter of Credit (L/C), commonly referred to by the Banks and other financial institutions as a Documentary Credit. Also it tells you what types of L/C are available and the internationally agreed that govern its operation. (Also available: Letters of Credit - Best Practice and the Letter of Credit Checklists)

Source: SITPRO and Business Link

 

Letters of Credit - Best Practice

This Briefing aims to give you a simple, easy to read and understand best practice guide for the operation of a Letter of Credit. Topics covered in this Briefing include Negotiation, Checking the L/C on receipt, documentation requirements and, in the event of a worse case situation, what to do if a L/C is rejected on first presentation by the Bank. (Also available: Letters of Credit - An Introduction and the Letter of Credit Checklists)

Source: SITPRO and Business Link

 

Incoterms

When negotiating an international sales contract, both parties need to pay as much attention to the terms of sale as to the sales price. To make it as clear as possible, an international set of trade terms Incoterms (International Commercial Terms) have been devised and published by the International Chamber of Commerce to define exactly the responsibilities and risks of both the buyer and seller including while the merchandise is in transit: who pay the cost of the transport, who is responsible of the loss of the product, etc. Please take a look at the following reports as they explain these terms and inform you of your duties etc.

Please feel free to print as many of the following briefings as you require. They are all available in webpage and pdf versions:

 

Incoterms - A General Guide

This briefing gives you general information about Incoterms 2000 - the commonly used trade terms in international trade. (Also available: Incoterms - An Action Plan and Checklist)

Source: SITPRO and Business Link

 

Incoterms - An Action Plan and Checklist

It gives you advice about how to choose an Incoterm. (Also available: Incoterms - A General Guide)

Source: SITPRO

 

General

In this section we have listed general documents that we feel are well suited to the topic of exporting.

Please feel free to print as many of the following briefings as you require. Most are available in webpage and pdf versions:

 

Cargo Insurance

This briefing gives you general information about cargo insurance, why you need it and where you can obtain it.

Source: SITPRO and Business Link

 

Managing the Risks of International Trade

If you want to exploit the export potential of your business, this briefing will help you put in place procedures to minimise the risks involved in international trade.

Source: SITPRO and Business Link

 

Roadmap to Exporting Success (Revised Edition - November 2005)

This guide, produced in association with Global Gateway2Trade (GG2T) (part of oneLondon (Link to an external site - Disclaimer )), steers exporters through the issues that they will need to consider at each stage of the exporting process and directs them to the best resources that are available on the internet.

Source: SITPRO

 

Relief's and Exemptions

This section contains information about all our Relief procedures on duty and VAT, Processing Under Customs Control (PCC) and how the Freezones can help your business prosper.

Source: HM Revenue and Customs

 

Reporting and Documentary Requirements

Avoid delays! Make sure you have the right documents for fast approval of every consignment. Information on EC sales lists, ESL Foreign Language Letters and Intrastat.

Source: HM Revenue and Customs

 

The Tariff

Source: HM Revenue and Customs

 

Overseas Trade Statistics

This is an introductory guide to the kind of statistics available and the means by which they can be sent to you or your company.

Source: HM Revenue and Customs

 

UK trade information on-line

Our UK Trade Data is the most complete, authoritative and up to date intelligence on imports and exports available. Use it as market information to identify new trade opportunities and to forecast trends and monitor patterns.

Source: HM Revenue and Customs

 

UK regional statistics

These statistics record the volume of imports and exports between regions of the UK and overseas countries. Reliable information of this kind is valuable to all regional bodies, but especially so in areas of devolved administrations (Scotland, Northern Ireland and Wales) where active promotion of the economy is already underway.

Source: HM Revenue and Customs

 

Currency of Invoicing

These reports are the result of a request in 1999 for us to produce figures analysing the use of various international currencies for the payment of imports and exports.

Source: HM Revenue and Customs

 

Trade challenges

As part of our trade information service we investigate Trade Challenges. This is an enquiry service for customers concerned about the accuracy of trade statistics.

Source: HM Revenue and Customs

 

Quality Report (for EUROSTAT) UK Trade-In-Goods Statistics

Trade between EC Member States and with countries outside the EC is subject to various agreements, laws, exclusions, harmonized definitions and procedures. This Quality report explains how these agreements allow reliable statistics to be compiled and meaningful measures and comparisons to be made.

Source: HM Revenue and Customs

 

Letters of Credit

A letter of credit is a document issued by a financial institution, which essentially acts as an irrevocable guarantee of payment to a beneficiary. Depending on if you are an exporter or an importer. The following guides will help you by giving you information and recommended procedures to be followed.

Please feel free to print as many of the following briefings as you require. Most are available in webpage and pdf versions:

 

Letter of Credit for Exporters

This checklist is intended primarily, but not only, for use in export sales and shipping departments. It should be of regular assistance to those involved in the financial and credit management sides and to production and supply. Working through the checkpoints set out in the various sections will help reduce discrepancies; associated unplanned costs; and the risk of losing the whole basis of secured payment for which the credit was established in the first place.

Source: SITPRO

 

Letter of Credit for Importers

This checklist is intended for both UK importers and also to be sent by UK exporters to their overseas buyers as part of their overall 'customer relations'. It details the recommended procedures to be followed, with item-by-item reference to completing the application form provided by the importer's bank. A simple specimen form is included at the end of this guide specifically as a guide to those who are new to trading on a letter of credit basis. This emphasises the importance of getting the letter of credit correct from the beginning.

Source: SITPRO

 

Export Sales Executives Guide

This checklist goes one step before the application by the importer, to help establish a credit with the customer that is clearly understood. It also refers to other, less secure methods of payment, and, at the same time recognises the representational role of the sales executive for the company when away from base.

Source: SITPRO

 


Completion Guide

Here you will find Completion guides for three important Shipping Documents from the UK Aligned Series of Export documents. Completion Guides for the 1999 versions of the Dangerous Goods Note and the Standard Shipping Note and a Completion Guide for the 1992 Export Cargo Shipping Instruction are available in webpage and pdf versions.

Please feel free to print as many of the following briefings as you require. Most are available in webpage and pdf versions:

 

Dangerous Goods Note Completion Guide (Revised Edition - June 2004)

The Dangerous Goods Note (DGN) is used to accompany hazardous goods in transit to the docks, a forwarder or an ICD (Inland Clearance Depot). It is used to convey information about a shipment to a carrier, receiving authority, forwarder, etc. The DGN can be used as a pre-shipment advice when using the Customs simplified clearance system. It is important that all the required information is entered onto the form. DGNs are available from a variety of SITPRO Licensees.

Source: SITPRO

 

Standard Shipping Note Completion Guide (Revised Edition - June 2003)

The Standard Shipping Note is used to accompany non-hazardous goods in transit to the docks, a forwarder, or an Inland Clearance depot (ICD). It may also be used for Air Freight. The document conveys information about a shipment to a carrier, receiving authority, forwarder etc. It can also be used as a pre-shipment advice when using the Customs simplified clearance system. This document must not be used for dangerous goods. SSNs are available from a variety of SITPRO Licensees.

Source: SITPRO

 

Export Cargo Shipping Instruction (Revised Edition - June 2004)

The Export Cargo Shipping Instruction (ECSI) is the instruction from the exporter to the forwarder or carrier. It contains information on the goods and the route to their destination, any transport requirements, customs information, who is to receive what documents and an allocation of the costs. ECSIs are available from a variety of SITPRO Licensees.

Source: SITPRO

 

All Forms from HM Revenue and Customs

All our Import and Export forms have been listed below in alphabetical order. Click on the links to download the form or to get online help with filling them.

 

 

Last Update: October 2011 

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