Whether you’re importing or exporting, the following items must be addressed when negotiating a transaction:
- Description of the Product - Be sure to include Properties, Hazards, Special Grade, End Use, and/or Trade Name.
- Quantity - Specify the number and capacity of the items to be shipped and define "Units" if applicable.
- Packaging - State whether the product is a bulk item and if it is packed in boxes, crates, drums, containers or bags.
- Price and Rate-Basis - What is the currency and rate per Unit (pounds, kilos, gallons, tons, metric, short, long etc.)?
- Terms of Sale - Identify the party which is responsible for costs and obligations using INCOTERMS, with geographical designation and method of transportation.
- Terms of Payment - How and when will payment be required (open account, cash in advance, documentary collection, letter of credit)?
- Date of Shipment - Specify a firm date as to when shipment will be made (i.e. "after receipt of…").
- Time Constraints
- Other Requirements?