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Intro to import

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An introduction to the import process with a China sourcing bias. By Peter Keller, VP of LivingDirect

An introduction to the import process with a China sourcing bias. By Peter Keller, VP of LivingDirect

Published in: Business, Travel

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  • Company timeline1999 founded, compactappliance.com2001 I joined2003-ish first microsite2004-2005 began DI and private label operation2010- $48 million revenue, double-digit growth rate+ every year since founding, profitable (privately held), 65 employees, 8 transactional sites
  • Add value for customersBetter feature setLower priceCapture value for companyReclaim the margin from distributorsReap greater sales revenuesDemand elasticity (lower pricing = higher sales volumes)Better products= higher sales
  • Have a product ideaFind a factoryNegotiate everything!PriceTermsDelivery schedule/time frameQuality Assurance (QA)Returns program, parts allowance, etc.OrderPO- PI – Payment VehicleReceive, sell, feedback, repeat
  • IncotermsFOB, EXW, CIF, moreVehiclesWireLetter of CreditDocument Presentation (DP/DA/DC)TermsDeposit -> BalanceSailingDays after Sailing/ Sailing DocumentsOpen AccountFOB vs. Landed Costing
  • Factory -> Dray -> Port -> Port -> Rail -> Dray -> WarehouseHTS codes
  • Personal safetyCustomersYou!CurrencyRMB appreciation is virtually guaranteedAgencyCorruption
  • Transcript

    • 1. Intro to Import
      Peter Keller
      peter.keller@yahoo.com
      www.peterkeller.net
    • 2.
    • 3. Why
      Create and Capture Value
    • 4. How
    • 5. Payment
      Incoterms
      Vehicles
      Terms
    • 6. Logistics
      Freight movement
      Import duties
      Risk of loss
      Insurance
      Parties involved
      Agency
    • 7. Risk!
      Financial
      Risk of loss (goods)
      Quality
      Personal safety
      Property damage
      Recall
      Inventory
      Currency
      Agency
    • 8. Dispute Resolution
      Clarity upfront
      Have options and “outs”
      Leverage the future relationship- to a point
      Your rules are not their rules
      Do you really want to sue someone in China?
    • 9. Why China?
      Ease of business
      Cultural differences… but everyone loves money
      The “China Price”
      But…
      China bubble may pop soon
      Human rights, etc…!
    • 10. Questions?
    • 11. Appendix- Importing from China
      Finding Suppliers
      Alibaba.com
      Globalsources.com
      Background
      China Road by Rob Gifford (book)
      Blogs
      China Law Blog
      Silk Road International
      My worldview
      The Clash of Civilizations by Samuel Huntington (article, then book)