Export Terms:

Int'l Trade terms are called Incoterms. For a definition of terms, see here.

Letter of Credit (Description)

A Letter of Credit is a binding document that a buyer can request from his bank in order to guarantee that the payment for goods will be transferred to the seller. A letter of credit gives the seller reassurance that he will receive the payment for the goods. In order for the payment to occur, the seller has to present to the bank with the necessary shipping documents confirming the shipment of goods within a given time frame. It is often used in international trade to eliminate risks such as unfamiliarity with the foreign country, customs, or political instability.

Federal Resources:

Deborah Dirr, International Trade Specialist

U.S. Department of Commerce

Raj Soin College of Business

Wright State University

Deborah.dirr@trade.gov (937)-775-3504 

U.S. Commercial Service Funded by the federal government to help smaller U.S. companies increase their export sales. They also work with other USG agencies who work on other issues related to trade (e.g., U.S. export laws, complaints about customs' practices in other countries, export finance, etc.)

State International Resources:

Indiana (search for export)

Ohio

Kathy Marshalek

kathy.marshalek@wright.edu (937)-253-0033 

Kathy works for 2 entities: the State of Ohio Department of Development - as an ITAC (International Trade Assistance Center) counselor.

The ITAC job is really the international version of an SBDC. It's for start-up businesses who also want international to be the focus of what they're doing.

The position with EMTEC is to service EMTEC members (companies) that need help with international business and issues but also to develop events and programs for the business community about aspects of doing business internationally.

Kathy services both Dayton and Cincinnati and she would work with new businesses who want to import or export.

Assistance with Sourcing

Finding a sourcing agent

Clothing and apparel sourcing

 This link will provide assistance for sources for apparel

If you would like to request a Cincinnati SCORE counselor please click here, for a Dayton counselor click here

Disclaimer

The information contained in these briefs is for general information only. While we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the information, products, services, or related graphics contained in the briefs Through these briefs you may be able to link to other websites which are not under the control of SCORE therefore the inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them. Any reference from SCORE to a specific commercial product, process or service does not constitute or imply an endorsement by SCORE, SBA, SCORE Chapter 34, SCORE Chapter 107, or the United States Government of the product, process, or service or its producer or provider.

map of world overlaying image of shipping containers