Doing business internationally with confidence

Research the local import or export market to determine if there’s demand for your product. Identify your business rivals and understand the developments in your sector. Familiarise yourself with the codes of conduct and customs. Language and cultural differences can increase the risk of miscommunication.

Make sure you have reliable company information. Is the company financially healthy? This will explain more about your foreign market (in Dutch) and anything you need to take into consideration. Of course, it’s best if you speak the language, but if you don’t, find a local interpreter or make the right contacts in the country (in Dutch).

You’ll have to consider product requirements, import duties, transport, an unfamiliar market and foreign currencies. Also make agreements with your foreign partner or client. Make sure you’ve got all these angles covered. Our import and export checklist will help you on the path to success.

There are two tools you absolutely can’t do without:

• Access2Markets. This gives you all the information you need about import and export by country and by product.
• Incoterms. Incoterms shows you at which point the risk of loss or damage of the goods is transferred from the vendor to the buyer. As well as the responsibility of transport costs.

You don’t want to get into a situation where your client doesn’t pay or the supplier doesn’t deliver. Avoid this risk with a Bank Guarantee, a Documentary Collection or a Letter of Credit. This way, you can do business internationally with full confidence and peace of mind.

You should also bear product liability (in Dutch) in mind. If you import a product from outside the EU, you are liable for that product as the law sees you as the producer and therefore responsible for any damage caused by, or arising from, the product. Here’s an overview of the main trade risks and how to mitigate them.

If you need financing to fulfil your international ambitions, we are here to help. Discover which financing options (in Dutch) work for you.

Did you know that Trade Finance products also offer financing options? We offer various options for purchase financing or advance financing (discounting) of a deferred payment with Trade Finance products.

When doing business internationally, you need to keep more records than when you only trade in the Netherlands. The Tax Authorities need you to provide proof with your VAT return, so remember to specify the VAT when sending invoices. You must also store various documents safely, such as consignment notes for import, proof of export of your product and signed transport documents for export. Read all the information carefully to determine which records/documents you need to keep.