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Wine Import

The law of the sea.

Wine Import

Postby Reynald » Mon Aug 18, 2014 1:51 am

I have read a recent article from a fellow wine importer but I have a slightly different situation...

The vineyard/ producer is in Argentina. One of the owners lives in the Bahamas and has set up a small import business there. I have been offered to distribute in Florida [ where I live ]. With the close proximity and the fact that the wine imported into the Bahamas stays in 'bond' until it is needed - therefore I am not paying any Bahamian duty, only the US DUTY ? Right ? We thought that this plan of me drawing stock from BAH would be a economical move in early days. Is there any other benefits that I can utilize and what sort of license do I need to do this? Thank you for any input or ideas you may have to make this economical in the initial stages.

Julian
Reynald
 
Posts: 32
Joined: Sun Apr 06, 2014 9:24 pm

Wine Import

Postby Finnian » Tue Aug 19, 2014 10:09 am



Dear Julian This site is for intermediaries- that is; a Buyer of goods buying from a Supplier and reselling to their own end buyer as seller , using the funds of the end buyer-in a legally defined way to so - In where title of the goods and not possession of goods are applied. Intermediaires buy and sell title of goods for deliverry to their end buyer directly-who obtains possession of such when the ship finally arrives-

You are defining a process in  where you are physically BUYING goods and taking possession of goods - then reslling such goods for profit at retail or  wholesale prices-

Big difference-  You have to find out statutory business  requirement in regards to setting up an everyday business as an importer and  wholsaler-no big deal a simple business name should do-

Everything mentioned about wines in the past on this site  applies as matters of procedures- except you are paying for the goods and bear direct responsibility of such as importer -You obtian  possession and title  of  goods - You take delivery of goods from  the ship when  it arrives - the goods are now yours- You pay import fees, taxes  and custom duties , unless you have made arragement for bonding of such-(which will cost money)in where import tarrifs are allowed to be paid when goods are taken from the customs bonded warehouse-   Import tarrifs are designed to protect local farmers from cheap import- thus importing wines into California is going to arrtact a high import custom charge.

You take the goods from boned warehouse as needed to your retail or wholesale outlet-

There is a lot more to know , but its a less complex situation than acting as a intermediary-

Note: Do your maths carefully- expect that if a bottle of wime cost you 1.20 EXW , then when all charges, freight, and warehousing expense are accounted for the wine will end up costing you $4,5,6 dollar per bottle net- This rate may come down if you ordered lets say 50 FCL - but not for one FCL-

Regards

Davide Papa

www.ftnx.9f.com

www.ftnexporting.com  
Finnian
 
Posts: 36
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