Documentation

A franchise agreement is just like any other contract – it sets out the rights and obligations of each party and provides appropriate remedies if either party fails in their obligations.

There will be many occasions in business when it is necessary to negotiate. Indeed, we do this all the time and often the exchange is continual and goes unnoticed.

The documentation required when sending goods to customers in other countries can seem complicated to a new exporter.

Certificates of origin (CO) verify a product’s country of origin and state where the product was manufactured, produced or processed, though this can become more complicated when raw materials come from one country and a product is then manufactured in another.

Businesses are often to be heard talking about standards and quality – but what are standards and what does quality really mean? And, more importantly, what is their impact on your business?

In many countries it is now a requirement to demonstrate that you “know your customer”. Some people now talk about the need to “know your business” (KYB) and use the phrase “know your customer” (KYC) to refer to individuals.

Many countries use a system of advance customs rulings (ACR), more properly known as advance rulings on classification, origin and valuation. The objective is to provide decisions on product classification, origin and valuation prior to their import or export. This offers traders certainty and predictability and allows them to make informed business decisions.

The import and export of goods requires a written contract. The terms of this contract must be clearly understandable by both the exporter and the importer, even if they do not speak the same language, and even if their two countries have different business practices and legal systems.

The Harmonised Commodity description and Coding System, usually abbreviated to the harmonised system (HS), is an international nomenclature for the classification of products.