The venerable Mimi Whitefield of the Miami Herald is reporting that 2012 was a record-breaking year for international trade in the Miami Customs District with $124.73 billion worth of trade being exchanged. According to Whitefield, Miami district exports increased to a record $73.3 billion, up nearly 6 percent from the previous year, and imports totaled a record $51.4 … [Read more...]
Have a Legal Dispute in Asia? Singapore is the Place to Resolve it.
I'm a big advocate for doing business in Singapore. Year after year, it's ranked as the easiest country in the world to start a business. Singapore is also the third richest country in the world, ranking behind only Qatar and Luxembourg. A big part of Singapore’s success is rooted in its modern legal system. The legal system in Singapore has received global recognition for … [Read more...]
Why Your 3PL Contract Should Match Your RFP.
I work with a variety of business clients that have their own logistics departments to coordinate their international shipping operations. For many companies, however, having an in-house logistics department can really put a dent in a company's bottom line. That's why third party logistics providers or 3PLs have become so valuable. In selecting a 3PL, a company (the … [Read more...]
Why You Should Include INCOTERMS in Your International Contracts.
I received an email from a client in Brazil last week about an important international trade deal involving a buyer in the United Arab Emirates. The issue was that Company Y in Brazil was negotiating a contract with Company X in Dubai but was unclear how a key transportation term in the contract should be defined. The problem was easily worked out by incorporating INCOTERMS … [Read more...]
How to Draft an International Manufacturing Contract.
The other day I got a call from a company requesting my assistance in structuring an international manufacturing agreement. While the majority of my cases are centered on international litigation or arbitration, I get a big thrill out of structuring international business contracts. Doing international transactional work allows me to get an inside look at the business side of … [Read more...]
Singapore Ranks as Best Country for Growing a Business. U.S. Ranks 10th.
Grant Thornton management consulting recently released its Global Dynamism Index. The popular index ranks countries based on 22 indicators. At the top of the list is Singapore. The United States came in as the 10th best country in the world for growing a business. While United States ranked ahead of France, China and Japan it fell behind South Korea, Germany and Israel, … [Read more...]
Boeing's Dreamliner is a Dream for International Litigators.
There's been a lot of press the past few days over the worldwide grounding of Boeing's Dreamliner aircraft due to faulty batteries. As reported in the Wall Street Journal article, All Boeing Dreamliners Are Grounded World-Wide, the grounding of the Dreamliner marks the first time in four decades that U.S. airlines were forced to ground an airliner. U.S. airlines were joined … [Read more...]
5 Top Resources for Financing Your Small Business Exports or Foreign Investments.
Here in Miami, where my practice is based, the international trade market is booming. South Florida is poised for record trade in 2013, thanks largely to solid growth in Latin America, the area's top trade partner. In the first 10 months last year, South Florida's trade with international markets reached $102.6 billion, up by $9.4 billion from a year earlier. For U.S. small … [Read more...]
Chinese State-Owned Firms Abroad: Like Arnold Schwarzeneggar or Danny Devito?
For years now the international business community has been hearing the familiar refrain of how difficult it is for private-owned firms to keep up with Chinese state-owned enterprises (or SOE). I mention this because The Wall Street Journal’s China real Time Report has a provocative article out today, Chinese State-Owned Firms Not so Muscular Abroad. For whatever reason, the … [Read more...]
2013 is Going to be a Huge Year for U.S. Trade Policy. Here's Why.
Back in November it was widely speculated that Obama’s second term would be punctuated by an aggressive pursuit of free trade initiatives. In recent weeks, it’s become clear that free trade will indeed take center stage in Obama's second term. I mention this because I just read an excellent piece over at the Council for Foreign Relations website, Opportunity Knocks for Obama … [Read more...]