Mastering International Payment Terms: Essential Strategies for Business Security International trade opens up a world of opportunities for businesses, but it also presents a minefield of risks, particularly with payment terms. Cross-border trade disputes commonly involve issues related to payment terms and conditions, and without proper safeguards, unfavorable payment terms can cripple a company's cash
Decoding U.S. Tariff Classifications – A Comprehensive Guide For businesses involved in international trade, effectively navigating U.S. custom regulations can lead to significant cost savings, compliance benefits, and a smoother trade process. A key component of this process is understanding tariff classifications. What is a Tariff Classification? Tariff classification assigns a unique code to every
Last week, I spoke at Brigham Young University’s annual China Conference, which is now in its eighth year under BYU professor Peter Chan. This year the conference’s theme was Peace Together: Continuing a Culture of Collaboration. Professor Chan has become a good friend over the past few years since I started attending the conference. He
Pivoting from China to India Recently, India’s Consul General K. Srikar Reddy met with a group of business leaders in Salt Lake City, Utah at World Trade Center Utah to discuss increasing business relationships between Utah and India. Mr. Reddy is based in San Francisco and covers the western US. He was previously posted in
All glory is fleeting. -- George S. Patton Jr. Had an interesting conversation with a client the other day. To protect identities, I am going to change a few unimportant facts and be somewhat vague, but here goes. The Unpredictability of Government-Dependent Business This company is in an industry very much related to government. By
The Chinese Manufacturing Times Are a Changin' For companies buying products from China, doing business used to be straightforward - you placed an order, they shipped the goods. Those days are gone. Chinese manufacturers are struggling, and buyers who understand the new landscape can negotiate deals that were unimaginable just a few years ago. Play
Before you send money to a Chinese manufacturer, make sure the company is who it claims to be. A relatively inexpensive due diligence review can uncover hidden ownership, financial problems, litigation, and other warning signs. We have seen these reviews save clients from making very expensive mistakes.
The international lawyers at my law firm have been increasingly fielding inquiries from companies looking to diversify their supply chains away from China. Many of these companies are looking to move their China manufacturing to Southeast Asia. To help our clients moving to or already in Southeast Asia, I recently went to Vietnam, Indonesia, and
About a decade ago, I gave a speech on software outsourcing at a major software event. Last week, I found my outline for that speech and this post is based on that outline, revised and updated. It is largely based on my experiences and what I have learned from talking with clients and other businesses
As the China-US geopolitical environment continues be problematic, our clients and prospective clients have pivoted from joint venture relationships to distribution and similar licensing-type relationships. This is not a one-sided trend. We are seeing an increase in these distributor relationships going both into China and out of China. From the questions we receive, we see
