B.E.S.T. Presentation


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B.E.S.T. Presentation

  1. 1. B.E.S.T. - Bauer Export Services Team THE FINANCIAL WORLD OF EXPORTS
  2. 2. B.E.S.T. - Bauer Export Services Team <ul><li>Export Letters of Credit </li></ul><ul><li>Standby Letters of Credit </li></ul><ul><li>IncoTerms </li></ul><ul><li>UCP 600 </li></ul><ul><li>Forwarders </li></ul><ul><li>AES Filings </li></ul><ul><li>Compliance </li></ul>Need Help ?
  3. 3. B.E.S.T. - Bauer Export Services Team Export Letters of Credit Services Offered: Review @ Quotation Stage of Orders, advise on text to mitigate risk, preparation of Letter of Credit Instructions to be delivered with Quotations. Negotiate cost of Confirmations with U.S. Banks. Review Credit at receipt stage, acceptability of Credit , advise on amendments needed. Work with Contract Personnel and Forwarders to ensure all documentation required can be provided. Prepare all required documentation and review/approve all Forwarder documentation prior to delivery. Timely presentation of documentation to U.S. Banks. Follow up on payment schedule of Credit and work with Company Credit and Collections Department to ensure payment received and credited to appropriate accounts. Provide detailed records for retention purposes.
  4. 4. B.E.S.T. - Bauer Export Services Team Standby Letters of Credit Services Offered: Experience in all aspects of Standby Letters of Credit for: Bids Advance Payments Performance Warranty Securing Receivables Advise / Create texts for Standby Letters of Credit to mitigate risks and prevent drawings without cause, demand “cure clauses”, prevent automatic renewals resulting in “open-ended” Credits. For Receivables Standby Letters of Credit, assist in creating appropriate text for these Credits so that they are issued correctly by Customer, handle credits that must be drawn upon by banking the necessary documents to achieve payment. Work closely with the U.S. Bank to ensure payment is made in a timely manner.
  5. 5. B.E.S.T. - Bauer Export Services Team INCOTERMS – 2000 Services Offered: Assist when required in determining appropriate Incoterm for specific Contracts / Orders at the Quotation Stage to ensure all costs are allowed/included in proposals. Assist at all times in explaining implications of use of Incoterms regarding change of title of goods, insurance, risk. Ensure when reviewing Export Letter of Credit requirements that documentation complies with the Incoterms of the goods shipped / contract.
  6. 6. B.E.S.T. - Bauer Export Services Team UCP 600 UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS 2007 REVISION INTERNATIONAL CHAMBER OF COMMERCE Services Offered: Understanding of the UCP 600 and all bank’s use of these rules and regulations is critical in determining acceptability of Letters of Credit received. All banks, Domestic and International, depend upon the UCP 600 when reviewing documentation presented by Beneficiaries in their determination of whether to pay or not pay. B.E.S.T.’s knowledge and experience in dealing with aspects of the UCP 600 and utilization by all banks is invaluable to the Operating Company in negotiating documentation against all Letters of Credit.
  7. 7. B.E.S.T. - Bauer Export Services Team FORWARDERS Services Offered: Experience in dealing with forwarders for export business and the development of relationships over the years is of upmost importance . Understanding procedure for booking vessels, cut-off times for deliveries, required documentation to be delivered to the forwarder ensures smooth and seamless handling of export shipments. Working directly with the forwarder via telephone, e-mail and fax communication ensures that all documentation that must be produced by the forwarder conforms in all ways to the Export Letter of Credit, and thus timely payment of the Credit. B.E.S.T. reviews for conformity EVERY transport document produced by the forwarder prior to the originals being released.
  8. 8. B.E.S.T. - Bauer Export Services Team AES FILINGS WITH THE U.S. GOVERNMENT Services Offered: Upon request, B.E.S.T. will assist with and/or file electronically the AES forms required by the US Government on specific export shipments leaving the U.S. These filings are required in order for the US Government to track goods leaving the country for various reasons. Failure to file AES can result in fines and/or suspension of export shipping privileges. Allowing your forwarder to file AES is not the best way to ensure your goods are reported properly. If the forwarder does not have the correct Schedule B numbers for the goods, filing may be incorrect. Operating Companies should either handle their own filings or seek assistance and provide their own identification via Schedule B numbers of their product.
  9. 9. B.E.S.T. - Bauer Export Services Team <ul><li>COMPLIANCE – GOVERNMENT and COMPANY </li></ul><ul><li>Services Offered: </li></ul><ul><li>B.E.S.T. is well informed of U.S. Government Compliance regarding exported goods. Also, foreign corrupt practices act, sanctioned parties, records retention, etc. </li></ul><ul><li>B.E.S.T. has the unique ability to state that we have completed the following legal/compliance sessions: </li></ul><ul><li>Export Administration Compliance – Export Controls Exams </li></ul><ul><li>Foreign Corrupt Practices Act </li></ul><ul><li>Information Security and Global Competition </li></ul><ul><li>Handling Competitive Intelligence with Care </li></ul><ul><li>Careful Communication and What You Need to Know About E-mail </li></ul><ul><li>B.E.S.T. will review individual Company Compliance regarding exports and commit to follow all rules and regulations required by the Company. </li></ul><ul><li>By using the US Government Websites and reviewing each export order handled by B.E.S.T. , we provide a “second eye” or “backup assurance” of compliance with Government guidelines. </li></ul>
  10. 10. B.E.S.T. - Bauer Export Services Team What About TRAINING ??? B.E.S.T. offers MANY services, but perhaps the most important service is TRAINING FOR YOUR EMPLOYEES Ensuring that all your employees involved in the export operation understand the implications to the Operating Company of their actions is critical. B.E.S.T. is experienced in various types of export training and can tailor sessions to the needs of the Operating Company.
  11. 11. B.E.S.T. - Bauer Export Services Team <ul><li>TRAINING SESSIONS OFFERED </li></ul><ul><li>Export Letters of Credit </li></ul><ul><ul><li>What IS this Export Letter of Credit? </li></ul></ul><ul><ul><li>Letter of Credit Instructions at the Quotation Stage </li></ul></ul><ul><ul><li>What NOT to accept in your Export Letter of Credit </li></ul></ul><ul><ul><li>Milestone Payments in the Letter of Credit </li></ul></ul><ul><ul><li>Causes for Non-payment of the Letter of Credit </li></ul></ul><ul><li>Documentary Collections – What is it? When to use? </li></ul><ul><li>IncoTerms 2000 – Define Your Correct Shipping Term </li></ul><ul><li>Standby Letters of Credit </li></ul><ul><ul><li>Bid, Advance Payment, Performance, Warranty, Receivables </li></ul></ul>
  12. 12. B.E.S.T. - Bauer Export Services Team FLEXIBLE CONTRACTS Full Export Service including preparation of all Shipping Documents, liaison with Forwarders, filings with US Government. Full Export Letters of Credit Service, Standby Letters of Credit, and Project Services, Employee Training. Export Letters of Credit Documentation Services Only - Priced Per Credit Hourly Export Project Services and/or Flat Rate Services Per Project Hourly Consultation Services on Export and Standby Letters of Credit Flat Rate Training / Workshop / Seminar Sessions
  13. 13. B.E.S.T. - Bauer Export Services Team <ul><li>Experience </li></ul><ul><li>Knowledge </li></ul><ul><li>Commitment to Excellence in Service </li></ul><ul><li>Conscientious and Dedicated Partners </li></ul><ul><li>Your Teammates in Exports </li></ul>
  14. 14. B.E.S.T. - Bauer Export Services Team A Dedicated Team of Export and Trade Specialists to Serve YOU: Principals: Marcy T. Bauer and Hellmut C. Bauer Experience You Can Trust With Your Export Business