Parties in trade

Buyer - one who is willing to buy specific goods or services, to find a seller and place the order.
A buyer's main goals are:

  • to receive goods or services in required quality and quantity;
  • to receive goods or services in specific destination and time;
  • to pay to a seller as later as possible and only when the seller is fulfilled its liabilities in full;
  • to receive financing for buying goods or services.


Seller
- one who is willing to sell specific goods or services, to find a buyer and arrange the delivery.
A seller's main goals are:

  • to be sure that a buyer will fulfill its payment liabilities;
  • to receive financing for goods production and preparation;
  • to deliver the goods or services as soon as possible;
  • to receive payment in specific amount and time.


Manufacturer
- one who produces the goods or services. May sell the goods by himself or using other companies as sellers.

A buyer's bank may assist in: 

  • searching for suppliers all over the world; 
  • consulting the buyer and protecting his interests;
  • preparing and checking the documents;
  • sending the payment;
  • financing related to a purchase.

A seller's bank may assist in:

  • searching for buyers all over the world; 
  • consulting the seller and protecting his interests;
  • preparing and checking the documents;
  • receiving the payment;
  • financing related to a sale.

Carriers
Goods may be transported using air, land, sea and mixed (multimodal) ways of transportation. It depends on geographical location, goods character, requirements of a buyer or capabilities of a seller. Carriers include shipping companies, postal services, courier services, air carriers, railroad companies, haulers and etc. Carriers usually provide transport documents, which confirm the goods delivery and delivery conditions.

Insurance companies cover risks of goods loss or damage during the delivery. Insurance cover may be provided by either seller or buyer, and the amount of covered risk depends on the contract terms and delivery option.

Government and trade organizations
Any country may restrict imports of specific goods and require buyers to receive import license for these goods. Countries with limited resources of foreign currency may prioritize payments for imported goods. Buyer may require inspection or testing of goods. Different organizations like chambers of commerce, trade unions, inspections companies, customs and etc. are directly or indirectly involved in trade operations. The same is for exporting countries. Exporters may have to receive the export license, to complete the pre-shipment or sanitary inspections, to fulfill the customs and government requirements for some categories of goods.

All parties of international trade have to cooperate efficiently, have close and open relations with each other and have as easy procedures as possible. 

Should you have any questions or need any advice please contact our International Team using one of the following contacts: