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5 Minutes for Business The Nuts & Bolts of International Trade

It is easy to think international trade is all about convoluted acronyms that describe trade agreements that take a long time to negotiate. A sampling of the ones you have probably heard about recently include CPTPP, CETA and CUSMA.

Indeed, the trade world is not short of acronyms, but here is another crucial one for businesses to know called Incoterms®, which stands for International Commercial Terms.

Updated every 10 years, Incoterms® are developed by the International Chamber of Commerce to act as a common set of rules between exporters and importers in the course of international trade in goods. The reason they are used by buyers and sellers is that they provide a mutual understanding of who bears the costs and responsibilities at various stages of international trade transactions. Not using the appropriate Incoterms®, or at least the one you thought you were using, greatly affects a company’s bottom line. For this reason, we have partnered with Forum for International Trade Training to help Canadian businesses get up to speed on these new rules with a series of training sessions.

Read this month’s 5 Minutes for Business to learn more about how your business can navigate this acronym-saturated, but crucial, world.

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Superior Propane - Save 5% on fixed price propane
Grand & Toy - Cost-saving solutions
St. John Ambulance - Discount on training
Quinte Siding - 10% OFF
Parsons Cleaners Member offer - 10% OFF
Group Benefit Plan for Chamber Members
Constant Contact Chamber Member Offer
Grand & Toy - Members can save up to 85%
Allen Insurance - Exclusive Chamber Member Rates
RBC - Save on Bank charges
Stirling Festival Theatre - Group Discounts available to members
Cloud Bookkeeping Services - 10% OFF
Friendly Fires - 10% OFF
Papa Johns Pizza Member Offer- 25% off
Dinkles & Paulos Restaurants - 10% OFF
OSM Website design - SAVE on services.
Belleville & District Shrine Club
Body Systems Nutrition - 15% OFF purchases.
Jesan Property Maintenance - SAVE 10%
NRG Alternatives - 10% Discount
Group Benefit Plan for Chamber Members
Body Systems Nutrition - 15% OFF purchases.
Superior Propane - Save 5% on fixed price propane
Jesan Property Maintenance - SAVE 10%
Quinte Siding - 10% OFF
Esso Chamber
Papa Johns Pizza Member Offer- 25% off
RBC - Save on Bank charges
Belleville & District Shrine Club
Shoppers Drug Mart - Save 20% on Thursdays
Grand & Toy - Members can save up to 85%
Be Prepared First Aid Traning - 15% off
Constant Contact Chamber Member Offer
Allen Insurance - Exclusive Chamber Member Rates
Stirling Festival Theatre - Group Discounts available to members
Grand & Toy - Cost-saving solutions
Dinkles & Paulos Restaurants - 10% OFF
Cloud Bookkeeping Services - 10% OFF
Friendly Fires - 10% OFF
OSM Website design - SAVE on services.
St. John Ambulance - Discount on training
Parsons Cleaners Member offer - 10% OFF
NRG Alternatives - 10% Discount