CHAPTER 3
Introducing the Parties to International Trade Documentation is the buyer and the seller. However, in international transactions, a number of other individuals, organization and entities enter the picture as key players. Each party may have a minor or major role depending upon the goods or services being bought or sold, the countries of import or export, and the method of payment. Also, each party to the transaction may either issue, secure or require documentation. In this chapter we introduce the parties to international transactions and describe their roles in either issuing or requiring documentation. Thankfully, few international transactions involve all the parties listed. A more exhaustive description of each party follows the list. The reader will note some similarities in content between this chapter and successive chapters on Export, Import, and Banking Documentation. The purpose of each chapter is to describe documentation from a different perspective and replication is necessary. For example, the exporter may issue or secure one set of documents for export (see the Export Documentation chapter), but may have additional responsibilities to issue and secure other documents for the importer/ buyer (see Introducing the Exporter in this chapter).
AT THE CORE OF EVERY BUSINESS TRANSACTION
Who Issues/Secures/Requires Documentation? ■ THE EXPORTER/SELLER ■ THE IMPORTER/BUYER ■ THE COUNTRY OF EXPORT (EXPORT AUTHORITY) ■ THE COUNTRY OF IMPORT (IMPORT AUTHORITY) ■ THE FREIGHT FORWARDER/LOGISTICS COMPANY ■ THE CUSTOMS BROKER ■ THE FREIGHT CARRIER
(SHIPPING LINE, AIRLINE, RAILROAD, BARGE LINE, COURIER) ■ THE GOVERNMENT REGULATORY AGENCY ■ THE INTERNATIONAL BANKS ■ THE INSURANCE COMPANY ■ THE ATTORNEY ■ THE INSPECTION SERVICE ■ THE NOTARY PUBLIC ■ THE CHAMBER OF COMMERCE ■ THE CONSULAR OFFICE
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