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