Saturday, 4 July 2020

WHAT IS EXPORT TRANSACTION CYCLE?

Export transaction cycle is the total number of days it takes to consummate your transaction from inception to completion. A proper understanding of the export transaction cycle is critical to a successful transaction because of the delivery period agreed to in the contract and amount of interest accruing if you are taking out a loan.

Hmmm!!! Folks, let us say the truth and shame the #devil. Many #Nigerian #non-oil products #exporters have been defrauded of huge amount of #money in the process of #exporting #agricultural #commodities and solid #minerals to #foreign #countries. Do you know why? They were not trained on #export #operations, #management, #documentations and the best methods of #payment in export #trade. This is terrible!!! Nigerians cannot continue to lose money to #foreigners in the course of export #business. Exporters, would you like to keep on being scammed? Why don’t you get a practical manual that explains the stages of export trade from processing and #packaging of commodities to receipt of payment by the foreign buyers? It explains export operations, export management, export documentations and methods of payment in export trade? Yes, it is a #contemporary step-by-step #guide to export trade. It tells all the contemporary dynamics in export trade. To get it, click on this link: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

What are the factors that typically affect the transaction cycle? Sourcing, processing, transportation, shipping, documentation and payment period. Putting days to each of these factors helps estimate how long it will take to execute the transaction. This in turn influences the delivery period you agree to in your contract with your buyers and your loan repayment period.

Assume sourcing takes 14 days, processing- 4 days, transport to port city- 5 days, shipping-14 days and documentation-3 days-,payment -5 days you could throw in 1-3 days for contingencies- these total 48 days.

Do you know that you will minimize the amount of #money you spend on #food items when we deliver the #foods items to you in bulk at reduced #price from our #farms? For details, click: http://www.tectono-business.com/2020/02/fresh-food-items-supply.html

This clarity guides your decision making. Ignorance is not an excuse in exports- understand the transaction cycle before signing that contract.

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