Big Deal

Forming a strong relationship with your foreign partner is essential. Trade consultant Joseph Zodl offers these tips to help you put your best foot forward:

DON'T:

• consent to a commitment you can't keep. If you won't be able to sell $1 million worth of widgets, don't promise it in the contract.

• expect the seller to know what you want. Never assume the foreign company understands your expectations.

• overemphasize the contract. Think business, not legal. Use the contract to lay the groundwork for the relationship.

DO:

• retain a customs broker. An experienced professional will help your foreign shipment meet the applicable regulations.

• conduct research. If you learn how business is done in a certain country, you can minimize problems.

• prepare to pay upfront. Most international shipments must be prepaid with a letter of credit.

This article was originally published in the September 1997 print edition of Entrepreneur with the headline: Big Deal.