Last week, I made a post on the 8 major incoterms you must know as an international trader. The FCA is one of them that was mentioned and briefly commented upon. FCA (Free Carrier) Here, the seller clears goods for export and delivers them to a designated named place chosen by the buyer. The goods ...
What is EXW Incoterms (Ex Works) The EXW Incoterms was mentioned as one of the 8 Incoterms you should know before you pay your supplier. A post that was made earlier. As an importer/exporter or a trader involved in the international trade business, it is important you know these terms EXW Incote ...
What are INCOTERMS? The International Chamber of Commerce (ICC) published a set of pre-defined commercial terminology known as the Incoterms or International Commercial Terms in relation to international commercial law. The responsibility of exporters and importers in the planning of shipments and ...
One of the most important things you want to find out as one who imports frequently from China is the shipping cost from China to Nigeria. It is very easily done and I will tell you how. Nigeria imports mainly: industrial supplies (27% of total in 2014), capital goods (23%), food and beverage (17 ...
This week's post, "how to import goods from China to Nigeria", will be a very short guide for newbies on how to import goods from china to Nigeria. I will not attempt to be exhaustive. According to Investopedia, China has been the largest exporter of goods since 2009. It is a good thing, then, to kn ...
Who regulates the export/import industry in Nigeria following is a list of organizations that regulates the import and export of goods in Nigeria. As far as the export/import industry is concerned, you will necessarily have to deal with these agencies, amongst others, depending on the goods you are ...
Single Window For Trade The phrase "Single Window" (also called "Single Window for Trade)" is being used to denote a wide range of various platforms, systems, and environments, and its use is not just in the context of trading. The description of an SW supplied by UNECE Recommendation No. 33 is ...
I'll provide you with a list of 45 Items Banned by CBN for forex in this article. The ban on 41 Items was originally made public by the Central Bank of Nigeria (CBN) in 2015, which noted that it would promote domestic production and assist preserve foreign currency. The import of the goods is ...
Last week, I shared with you detailed information about form M. Form NXP is the focus for this week. And I will give brief details about it. As you already know, it is a statutory requirement that all goods imported into the country must go through the Form M. The Form NXP (Nigeria Export Proceed ...
What is Form M? will comprise the primary focus of this article. If you own a business that deals with imported commodities, you will notice that the term Form M is a buzzword, especially when it comes to payment. Even so, if you must use the official trade market to access foreign currency, addi ...
