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How-to Start an Import Business Class Outline:

Day 1

Business Startup Considerations:

Import/Export business 1970s - today

Where to go and what to buy:

Product development

Different levels of involvement

Who will be your customer/how will you sell your imports

How to find overseas suppliers and whom to buy from

How to start and run your business

How much should you pay for the product you want to import

Product price overseas vs. landed price in the US

Shipping Process:

Customhouse Brokers

Freight forwarders

Your purchases and shipping logistics

Packing practices

Shipping documents

Freight insurance

Day 2

Financing:

Paying for your purchases

Letter of Credit

Documentary Draft for Collections/Documents Against Payment

US Customs Entry Process:

Entry process

Formal Entry and Informal Entry

Handcarrying your commercial purchases into the US

Harmonized Tariff Schedule and the classification process

Marking requirements on goods

Liquidated entry

Tax issues:

Decuctable expenses

Proof of doing business

Student Presentations