

Your shipment must be accompanied by all relevant documentation, including: If a name or address is misspelled, if the shipping date is wrong or if all charges are not included, you may be unable to collect. Remember that an L/C pays upon receipt of correct documents, not upon successful completion of the transaction. It must be consistent with your sales agreement, and you must comply with all of its provisions. Review the L/C carefully with your freight forwarder, banker and legal counsel. The buyer's bank sends the L/C to your bank.The buyer issues an instruction to his or her own bank.The process for a letter of credit (L/C) is: Be sure to confirm the following details:

You should respond with an acknowledgment of the order or a sales confirmation. Finalize the saleįinalization normally begins when your sales department receives a purchase order from the buyer. Before leaving Canada, ask the TCS in the market you're visiting to provide you with advice on timing and organizing your trip. Visits to important prospects in your market(s) are strongly recommended because they let you gather insight into each prospect’s needs.

Ask the TCS in your target market for help in assessing your market prospects and to provide you with a list of qualified contacts.Speak with a trade commissioner right here in Canada for information on trade opportunities and market intelligence from around the world. Did you take the Export quiz? If you answered 11-15 questions with “A” or “Yes”, you are likely well prepared to request service from the Canadian Trade Commissioner Service (TCS).Research the market using techniques and resources described in this guide.Whether you export goods or services, many of the following preparatory steps will be similar: Here's a checklist you can use to track the general progress of your exporting venture, or simply to get an overview of the entire process. Appendix C: Glossary of international trade terms.
