Submitted to: Assoc.Prof.Glzar KURT
Furkan FİDAN
Faculty of Business
International Business and Trade
2009434020
İzmir, 2014
CUSTOMS AND FOREIGN EXCHANGE OPERATIONS
Question:
Q.1. Explain one of the trade transactions (export, import, customs, logistics operations,
etc.) of your company in detail (remember the cases, companies, products, countries that
you work in your company).
Q.2. What are the personal requirements/capabilities needed to be successful in your
company (analyze the duties and responsibilities of the workers in the company and write
a report about the capabilities)?
Answer:
Q.1. Explain one of the trade transactions (export, import, customs, logistics operations,
etc.) of your company in detail (remember the cases, companies, products, countries that
you work in your company).
I am working at MSN Yıldırım Custom Consultancy Limited Company. Our company
serves as consultant in foreign trade actions such import, export and logistics. MSN
Yıldırım Custom Consultancy is working as official intermediary rather than exporter and
importer. I will explain one of export transaction between Turkish granite producer and
exporter Company and Italian importers in which our company served as consultancy.
MSN Yıldırım Custom Consultancy did not give the names of these companies due to their
ethic principles and I will mention about them as just Turkish granite producer and
exporter and Italian importer. I asked deputy custom consultant of our company to explain
all process of this export transaction from beginning to end. Firstly, Italian importer
contacted with Turkish producer to import granite from Turkey. Italian importer asked
price of 1000m2 granite with Free on Board (FOB) and Cost Insurance & Freight (CIF)
incoterms. After that Turkish Company sought to prices of insurance and freight to respond
the requirements of CIF. These kind of companies which are doing foreign trade generally
have insurer and freighter that the company works with them usually. And then, the Italian
importer took the prices, they decided to CIF incoterm. In the second step, Turkish
Exporter invoiced the bill with approval of Turkish Finance Office to start the export
transaction and present it to customs. Also, FOB price of goods needs to be written in
invoice. Besides that total number of containers/packages, net and gross weight of
containers, payment methods such as cash against goods, cash against documents, letters
of credit, cash equivalent etc., which bank the payment will be done, and name of producer
need to be written in invoice without value added tax. In addition to this, Turkish exporter
prepared commercial invoice in English language with all information which is written in
