Trade Services Archives

Learn From Bank Executives About Letters of Credit

Published on July 15, 2014

Trade finance and in particular letters of credit are imperative to the conduct of global commerce. USCIB is pleased to partner with the Bankers Association for Finance and Trade (BAFT) to bring its next Global Trade Finance workshop to the on-bank trade community.

The workshop will be held July 24-25 at City National Bank in Los Angeles. Special pricing is being offered for all non-bank participants.

The workshop will discuss how to improve the efficiency of completing a trade transaction including using Intercoms® 2010, regulatory and compliance topics such as OFAC and trade enforcement issues as well as cargo insurance.

The event includes a special interactive lunch designed for the trade community partners with an open dialogue on how to improve working relationships of completing trade transactions.

The USCIB International Bookstore provides many trade finance publications including UCP 600, International Standard Banking Practice, Uniform Rules for Bank Payment Obligation as well as many other popular ICC titles relevant to the workshop.

Follow us on @USCIBTradeSvcs for the latest industry news and activities.

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OneYear Countdown to 9th World Chambers Congress Begins

Published on June 13, 2014

4757_image001The one-year countdown to the International Chamber of Commerce (ICC) World Chambers Federation (WCF) 9th World Chambers Congress, one of the most anticipated events in the chamber calendar, began on June 10. WCF is a specialized division of ICC encompassing chambers of commerce from every region of the world.

To mark the occasion, Congress organizers held a press conference in Turin, Italy to present a snapshot of the latest Congress developments. The briefing, which took place at Palazzo Birago – headquarters of the Torino Chamber of Commerce – featured President of Torino Chamber Alessandro Barberis and Director of the Torino Chamber Guido Bolatto who were joined by the Secretary General of ICC Italy Maria Beatrice Deli.

To start the countdown, WCF and Torino Chamber launched the Congress website, a one-stop portal providing the latest Congress news featuring information on every aspect of the event, from the venue and program to sponsorship opportunities. The website is accessible on mobile devices and tablets making it even easier to stay informed. WCF and Torino Chamber also announced an agreement with Expo 2015, the corporation that will fulfill commitments undertaken by the Italian Republic regarding the 2015 Universal Exposition in Milan, which will take place from May 1 to October 31 2015.

USCIB is the American affiliate of the ICC.

See also: 7 Reasons Torino is the Ideal Host for the ICC WCF 9th
World Chambers Congress

Read more on the ICC website.

 

Staff contact: Cindy Duncan

Business Coalition Action on WTO Trade Facilitation Agreement

Published on June 13, 2014

Reports

ContatinersThe proposed World Trade Organization (WTO) Agreement on Trade Facilitation holds the potential to significantly bring down transaction costs borne by business and consumers.

WTO members recently reached a consensus on the agreement at the Bali Ministerial Conference in December 2013. If the agreement finally passes after almost a decade of negotiations, it could increase global GDP by over $1 trillion.

Kristin Isabelli,USCIB’s director of customs policy, attended an ICC Trade Facilitation and Customs Commission meeting in Paris from June 12 to 13, where she showcased the work of the Global Trade Facilitation Agreement Coalition – a partnership between USCIB, the U.S. Chamber of Commerce, the National Foreign Trade Council and the Express Association of America – in helping to move the agreement forward. Isabelli also serves as ICC’s representative to the World Customs Organization’s Harmonized System Committee.

The international business community, represented by the Global Trade Facilitation Agreement Coalition, has much to gain from the WTO trade agreement. The agreement is estimated to cut the cost of trade by 10 percent in developed countries and by 15 percent in developing countries.  It will also create new jobs and slash red tape at the border. The coalition came together to organize private sector interests and to develop a strategic action plan to optimize the agreement’s implementation.

Isabelli noted that the coalition seeks to work closely with the International Chamber Commerce (ICC), the WTO and the World Customs Organization and stressed the importance of working with different countries’ local business communities.

“The agreement is going to be a heavy lift,” said Isabelli. “We want our coalition to be a global initiative.”

The coalition aims to be inclusive within the business community and plans to coordinate among the private sector and among the WTO member governments. Given that the agreement’s implementation will take a long time, Isabelli described the process as a “marathon versus a sprint,” and that business needs to be prepared to put its energies into the agreement for the long term.

“We are working very closely with our own government, and they are thrilled that we are setting up this coalition,” Isabelli said of the U.S. government. “They want to work closely with us.”

Staff contact: Kristin Isabelli

 

More on USCIB’s Customs and Trade Facilitation Committee

Partnership with Global Trade Review at NA Trade Export Finance Conference

Published on June 12, 2014

The United States Council for International Business is pleased to announce its partnership with the Global Trade Review at the June 19 North America Trade and Export Finance Conference in New York City.

At the conference business leaders from across the United States and Canada will gather to discuss key concerns regarding cross-border trade and the role of the financial sector in securing business with high-growth emerging markets.

The event will be headlined Chairman Geoffrey Brady, managing director and North American regional trade executive for J.P. Morgan and keynote speaker Gary Clyde Hufbauer, Reginald Jones Senior Fellow at the Peterson Institute for International Economics.

The USCIB International Bookstore will be displaying its trade finance publications including UCP 600, Uniform Rules for Bank Payment Obligation and Incoterms®2010 as well as many other popular ICC titles; we look forward to seeing you there.

Staff contact: Elizabeth Cafaro at ecafaro@uscib.org

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New Franchising Title Bundle Offer

Published on June 5, 2014

To celebrate a new title, Using Franchising to Take Your Business International, we the USCIB International Bookstore is offering a 10 percent discount on this title and two bundle options.

Using Franchising to Take Your Business International

4748_image002Order your copy now and save 10 percent!

International franchising can be highly rewarding. Why, when and how a successful franchisor should go international are some of the questions addressed by this book. This guide will help you decide whether to take the next step by outlining the difference between common law and civil law, as well as legislation in different countries and states. Aside from legal considerations, this title covers the business issues of potential risks and pitfalls, market and financial research, and candidate choice. Country-specific information and checklists will allow you to customize your franchise contracts.

Save 10 Percent when Purchasing any of these Bundles

The ICC Model Franchising Contract will help save valuable time when preparing franchising agreements, whereas Drafting and Negotiating International Commercial Contracts highlights the challenges companies might face when doing business internationally.

For more information on any of our titles and to place your order, please visit the USCIB International Bookstore or contact us at 212.703.6066.

 

Staff Contact: Hsin-Ya Hou at 212-703-5066 or hyhou@uscib.org

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HQ Hours & Holidays

Published on May 30, 2014

United States Council for International Business

Carnet and Trade Services

 

Our regular office hours are Monday thru Friday,

from 9:00 a.m. to 5:00 p.m. Eastern Time.

 

Holiday Closings 2021

January 1FridayNew Year's Day
January 18MondayMartin Luther King Jr. Day
February 15MondayPresident's Day
May 31MondayMemorial Day
July 5MondayIndependence Day (observed)
September 6MondayLabor Day
November 25ThursdayThanksgiving Day
November 26FridayDay After Thanksgiving
December 24FridayChristmas Eve
December 31FridayNew Year's Eve

In 2021, unless otherwise announced, USCIB offices will close at 3:00PM the business day before the following holidays:

  • Memorial Day Weekend
  • Independence Day
  • Labor Day weekend
  • Thanksgiving
  • Christmas Eve
  • New Year’s Eve

Partnership Brings New Titles to USCIB Bookstore

Published on May 30, 2014

NCBFAA Incoterms 2010

USCIB and the International Bookstore have teamed up with the National Customs Broker and Freight Forwarders of Association of America (NCBFAA) to bring select titles directly to NCBFAA members.  The inaugural offerings include Incoterms® 2010 products and also relevant banking titles, e.g., e, Bank Payment Obligations (BPO); International Standard Bank Practices (ISCP 2013) and UCP 600 (Uniform Commercial Practice).  These titles will support and enrich the continuing professional development of NBCFAA’s trade and logistics practitioners.

NCBFAA and its National Educational Institute (NEI) represent over 900 member companies with 100,000 employees in international trade – the nation’s leading freight forwarders, customs brokers, ocean transportation intermediaries (OTIs), non-vessel operating common carriers and air cargo agents, serving more than 250,000 importers and exporters.

“The NEI is excited for the opportunity to bring fresh and relevant material to the hands of trade professionals and looks forward to a prosperous partnership with the USCIB,” said NEI Executive Director Federic Zuniga.

Staff Contact: Hsin-Ya Hou at 212-703-5066 or hyhou@uscib.org

Visit USCIB’s International Bookstore

USCIB Celebrates World Trade Week NYC

Published on May 16, 2014
USCIB’s Cynthia Duncan (center) awards the inaugural World Trade Week Next Generation Program Scholarships to Elizabeth Pulos (left) and Kyaw Htoon (right).
USCIB’s Cynthia Duncan (center) awards the inaugural World Trade Week Next Generation Program Scholarships to Elizabeth Pulos (left) and Kyaw Htoon (right).

The third week of May is World Trade Week in New York City, a series of conferences, panels and celebrations that draws trade organizations and businesses from across the country to promote global commerce. USCIB is once again a lead organizer, as Cynthia Duncan, USCIB’s senior vice president of Carnet and trade services, sits on the World Trade Week steering committee.

World Trade Week provides a unique networking opportunity for small businesses seeking to go global, and it serves as a reminder to stakeholders of the importance of international trade to New York City and the U.S. economy. This year’s celebration stressed how businesses can take advantage of technology to innovate and expand internationally.

Festivities began on Monday May 12 with the 9th Annual International Trade Awards Breakfast at Baruch College. Eight companies were recognized for outstanding contributions to global trade. One of the winners, Susan Axelrod of Love & Quiches Gourmet, reminisced about how times have changed since she started her catering business 20 years ago, when she’d record orders on index cards and toss them in a shoebox. Today, accounting software and improved supply chain distribution allow Axelrod to export her baked goods to over 17 countries. Her company won the Global Technology Award for products. A full list of awardees is available on the World Trade Week website.

At the end of the awards breakfast, USCIB’s Duncan presented the inaugural World Trade Week NYC Next Generation Program scholarships to college students who demonstrated “strong scholastic achievement and service to their community.” The World Trade Week NYC committee of the New York District Export Council developed this scholarship fund to inspire young professionals to pursue careers in international trade. Duncan awarded $1,000 scholarships to Kyaw Htoon, majoring in international business at Baruch College, and Elizabeth Pulos, enrolled in the Department of International Trade and Marketing at the Fashion Institute of Technology.

World Trade Week events run the gamut from talks on “The Politics of Trade: TTP, TTIP, TPA” to information sessions about “Copyright Strategies for Your Business.” On Thursday May 15, Duncan spoke at one such event, “Export Smarter: Tricks of the Trade,” where she gave a presentation on USCIB’s ATA Carnet trade services to an audience of exporters.

“It’s a merchandise passport,” Duncan said of the ATA Carnet. “Think of it as a tool that allows you to explore markets outside the U.S.”

The ATA Carnet is a customs document that allows businesses to easily export commercial merchandise without paying duties or value-added taxes. Seventy-four countries participate in the Carnet International Convention, and the Carnet can be applied to a wide range of items for trade and commercial purposes, including, Duncan noted, five human skulls that were shipped to a museum in Sweden.

USCIB serves as the U.S. national guaranteeing association for the ATA Carnet. Merchandise passports are good for the temporary importation of commercial samples, professional equipment and goods for trade exhibitions and fairs. Visit the ATA Carnet website to find out more about USCIB’s trade services.

Other speakers at the Export Smarter session included Geoffrey Sauer and Michelle Bonina of Reed Exhibitions, who explained the do’s and don’ts of attending global trade shows. Thaddeus Kubis, founder of The Institute for Media Convergence, offered tips for global marketing strategies, while Stephen Ufland of Beechams LLP Chartered Accountants explained the European Union’s complex value-added tax regime, and when and how businesses can reclaim the VAT. Finally, Kevin Wasik of UPS concluded the event with a presentation about how online buying expectations differ from country to country.

Each year, the World Trade Week steering committee works together to highlight the link between international trade and New York City’s economic growth, as well as to help businesses share knowledge, resources and ideas for succeeding internationally. (World Trade Week 2014 actually runs longer than one week, and it ends on Thursday May 29.)

Staff contact: Cynthia Duncan

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Australia

Published on May 14, 2014

DISCLAIMER: USCIB makes every effort to keep information on this page up to date. Users are advised to consult with the local customs authorities of the country or territory in question to ensure accuracy and conformity with local laws. USCIB cannot be held liable for any incorrect or out-of-date information contained on this page.

 

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AUSTRALIA (AU)

Accepts ATA Carnets for:

  • Commercial Samples
  • Exhibitions and Fairs
  • Professional Equipment

Visit AUSTRALIA Customs at: http://www.customs.gov.au/

Victorian Chamber of Commerce and Industry

150 Collins Street, level 2
Melbourne
Victoria 3000, Australia

Mailing Address:
G.P.O. Box 4352
Melbourne VIC 3001, Australia

Tel: (61-3) 8662-5380

E-mail: carnet@victorianchamber.com.au
WWW Site:  http://www.victorianchamber.com.au

Special Considerations

There are special considerations when importing vehicles. Check with Australia Customs prior to import.

Trade shows

Isle of Man

Published on May 13, 2014

DISCLAIMER: USCIB makes every effort to keep information on this page up to date. Users are advised to consult with the local customs authorities of the country or territory in question to ensure accuracy and conformity with local laws. USCIB cannot be held liable for any incorrect or out-of-date information contained on this page.

 

Isle of Man Flag

ISLE OF MAN (IM)

Accepts ATA Carnets for:

  • Commercial Samples
  • Exhibitions and Fairs
  • Professional Equipment

London Chamber of Commerce and Industry

33 Queen Street
London EC4R 1AP

Tel: +44 (0)20 7203 1714

Email: d.mckinley@uknataco.co.uk
Website: https://uknataco.co.uk/

Special Considerations

We are unaware of specific requirements for Carnet use in Isle of Man.

Trade Shows