This list is categorised into three sections, defence articles, defence services, and related technical data. To comply with ITAR, it is essential that the company must register itself with the DDTC and apply for an export licence or temporary import licence.
10. Harmonized Tariff Schedules (HTS) and the Importance of Country of Origin Certificates
HTS code is an international harmonised system of numbers and names used to categorise traded products. The major benefits of using HTS codes are that they support global trade by making the customs processes easy, helping countries impose tariffs accurately, enforcing trade regulations, and collecting trade statistics.
An HTS code consists of ten digits, each with every set representing a particular guatemala phone number list product category or sub-category. These codes are broken into five different sections, the first two characters identify the chapter in the HTS, the next two digits the heading within that chapter, the other two digits identify the subheading within that chapter, the subsequent digits establish duty rates, and the last two digits are statistical suffixes that collect trade data.
11.
The word “Incoterm” is an abbreviation for International Commercial Terms. Incoterms outline the parties’ responsibilities under a contract for international sales of goods. It is important to choose the right Incoterms. You must consider the following factors when selecting an Incoterm for a sales contract, such as:
Mode of transportation
Types of goods
Level of experience of the parties
Relationship between the seller and buyer
Control over the goods, operations, and cost
Whether an Incoterm is more suitable for importation or exportation
Insurance policies.