Resources

Learn how to determine your HS Code and Schedule B numbers.

Harmonized System (HS) codes are a standardized numerical method of classifying traded products. They are 6 digits and standardized across countries. Schedule B numbers contain 10 digits. The first 6 digits are the same as the HS code; the last 4 digits are used by the U.S. to further classify exported products.

Exporters need to know their product’s Schedule B and HS numbers to:

• Determine applicable import tariff rates and whether a product qualifies for a preferential tariff under a Free Trade Agreement
• Complete Electronic Export Information, Certificates of Origin and other shipping documents
• View import and export data for a specific product to determine trends and top markets

Some U.S. companies have found that foreign manufacturers have copied their products, packaging, and business plans, even though they had never done business abroad. Any business that exports its IP protected products abroad or sources its products overseas must take into account the potential for IP theft. For this reason, it is a good idea to get the appropriate forms of IP protection before doing business in another country.

In 2021, the top categories of products that infringed upon intellectual property rights included: pharmaceuticals, health/personal care, eye-wear, critical technology components, electronic articles, and transportation/parts.

Learn how to export your product or service

It is now easier than ever for businesses, no matter how small, to sell goods and services around the world. Exporting is one the best ways to help a business:

• Increase sales and profits
• Sell excess production capacity
• Reduce dependence on existing markets

Exporting is a big step for many businesses, and there are six topics that must be understood to before pursing international sales. The better prepared a business is for exporting, the more successful it will be.

1. Determine HS Codes
2. Understand Export Regulations
3. Select an International Market
4. Respond to Inquiries
5. Financing and Payments
6. Ship Your Product

Sales inquiries from potential customers in foreign countries can be quite different than what companies are accustomed to receiving from domestic sources. Responding to a reputable sales inquiry requires careful consideration of many elements, including pricing, export regulations, and payment terms.

This guide provides an overview of:

• Reviewing inquiries
• Determining how to respond
• Developing pricing and quotations

With approximately 200 countries in the world, how can your company decide where to export? This simple guide can help your company determine which international market is best for your products and services.

• Step 1: Screen – know your company and know your industry
• Step 2: Compare – market assessment checklist
• Step 3: Select – continue research and develop and export plan

Understanding trade finance and payments helps exporters turn opportunities into sales and get paid for those sales in full and on time.

There are four methods of payment in international trade:

• Open account
• Documentary collection
• Letters of credit
• Cash-in-advance

Each payment method contains varying levels of risk for the importer and exporter. An appropriate payment method must be chosen carefully to minimize the payment risk to the exporter while accommodating the needs of the importer.