International trade can be complex and with the impact of the pandemic on a fast-changing regulatory environment, things are getting a lot more complicated. Market distortions with high tariff rates on certain goods as well as country-wise regulations for import and export of various commodities are key concern areas of global trade. Therefore, in order to deal with these concerns, DHL has introduced Global Trade Services (GTS), also commonly known as Trade Automation Service (TAS).
GTS is our suite of free tools to help businesses calculate duties and landed costs, understand the paperwork, determine the classification and other common tasks encountered in international shipping. Our goal is to simplify the complexities of global trade and help businesses keep abreast of the frequently changing trade protocols.
This article will outline everything you need to know about Global Trade Services and Landed Costs, thus making your international shipping journey smooth and easy.
A Landed Cost Quotation (LCQ) is an estimate of the entire cost of transporting a product from a merchant's warehouse to a customer's doorstep. It covers the product's original price, including all transportation fees (from pick-up to delivery), such as tariffs, customs charges, shipping costs, taxes, and insurance, as well as any applicable handling and payment fees that can be determined at the time of shipping.
Knowing the true value of Landed Cost enables you to better understand your true costs per product sold, thus allowing you to set more competitive and realistic rates for your customers and end-users than your competitors. In addition:
Verify shipping restrictions from government and international authority maintained databases of denied party lists.
Identify the cost to ship parcels between countries by giving an estimate of duties and taxes and other import fees.
Ensure that your goods comply with each country’s import and export regulations.
Assess sourcing options between countries in a single report stating the landed cost estimates, product, and shipping regulations.
Save your contacts to expedite the form completion process.
Obtain a comprehensive collection of import and export documents organised by countries.
Store commodities in GTS for easy access to current information.
Receive Export Control Classification Numbers (ECCN), Harmonized System, Schedule B, ASEAN Harmonized Tariff Nomenclature (AHTN) codes for any item.
Store up to 100 shipment profiles for 90 days with the ability to update saved reports for the most current information.
Our DHL Express team cares about you and your customers’ shipping experience, and therefore we want you to benefit from our Global Trade and Landed Cost services. Keeping these features and benefits in mind will help your e-commerce business to grow more effectively in the international market. So, go ahead and start shipping now!
visit mygts.dhl.com to get started.