Drawbacks of Using Letter of Credits in International Trade
Just like there are a huge benefits of using letter of credits in International Trade, there are also drawbacks of Using letter of Credits as well. If you’ve ever had to fill out a customs form, then you know how complicated and confusing international trade can be. From the names of the products themselves to […]
Type of Letter of Credit
This post focuses on some type of letter of credit. Have you ever had a challenge differentiating between each type of letter of credit? In a recent article, we discussed 5 common payment methods there are in international trade, one of which is the Letter of Credit. And in the later post, you find what […]
Payment Methods in International Trade: LETTER OF CREDIT
Have you ever been confused by what a letter of credit is? Or ever asked why you need it in international trade? or probably wish to understand in detail the various payment methods in international trade. Mostly as an exporter who might have experienced the use of this payment method, you would have come across […]
5 most popular Payment Methods in International Trade
International trade has existed for centuries. As the volume of international business grew, so did the need for certain agreed-upon documentation to regulate transactions. One of these is payment methods in international trade. There are five major types of payment used by businesses engaged in international trade: Documentary Collections Letters of Credit Cash against Documents […]
Risks of Shipping a Container without a freight forwarder?
Let’s face it, 4 out of every 10 importers have wondered if it is possible to ship a container directly to Nigeria without using freight forwarders. Yes, no doubt, it will save you some money on your container shipping fees but don’t expect to see a profit in the end. Here’s why: First and foremost […]
Importing Wholesale Electronics for resale from China to Nigeria
In the past, it used to be quite a difficult task to import wholesale electronics for resale from China to Nigeria. In the advent of improved standards of the internet, there are several possibilities across the board. One of the most important questions that need to be asked before importing Wholesale Electronics from China is […]
12 Tips for safe Importation of Wholesales Electronics from China to Nigeria
When it comes to importing wholesale electronics from China, Nigeria is a lucrative market. The country has the world’s third-largest population and its economy is growing at almost 6% per year. Despite high import tariffs, Chinese goods are still quite competitive in price with similar items manufactured domestically. However, there are risks that come with […]
Bowa-Gate Global Now Registered Member of the World Cargo Alliance
Bowa-Gate Global Ltd is now a Registered Member of the World Cargo Alliance. Bowa-Gate Global Limited has again obtained a new feat having been approved as a member of the World Cargo Alliance (WCA). This is a move made to keep up with rendering the best of Freight forwarding service to her numerous clients locally […]
6 Latest Best Selling products you can Import from Turkey to Nigeria this year
This post is for you if you are searching for what to import from Turkey to Nigeria, whether for the purpose of reselling (wholesale or retail), or to build a big brand. If you are considering a good country to import products from, one country severally overlooked is Turkey. Having handled freight shipping and customs […]
Nigerian Customs Requirement on Overtime Cargo in Nigeria
Did you know that Customs is empowered by law to auction overtime cargoes so as to free up space in the port and also recover government revenue? Overtime cargo in Nigeria is a real-time bottle-neck situation that requires According to Vicky Haastrup, the Chairman of the Seaport Terminal Operators Association of Nigeria (STOAN), “…not auctioning […]