A large number of middlemen are associated in foreign trade. They assist exporters and importers. These middlemen may be classified as follows:
1. In exporting country
(i) Export agents:
An export agent receives indents from foreign buyers. He assembles goods according to the orders and dispatches goods to foreign buyers. He charges commission for his services from exporters.
ADVERTISEMENTS:
(ii) Forwarding agent:
A forwarding agent is appointed by an exporter to act on his behalf. He has specialised knowledge of export procedures and customs formalities. He dispatches goods and attends to various formalities involved in exports. He receives commission as per the agreement.
(iii) Shipping company:
The shipping company acts as an agent of the exporter. It dispatches goods to the importer’s country after taking goods from the exporter.
ADVERTISEMENTS:
2. In importing country
(i) Import agent:
An import agent imports goods on behalf of importers. He has specialised knowledge of the commodities being imported. He relieves the importer from the problem of performing the complicated and time consuming procedure involved in importing of goods. He receives commission from importers.
(ii) Clearing agent:
ADVERTISEMENTS:
A clearing agent is appointed by the importers as his representative. He works on behalf of the importer. He performs all the customs formalities involved in imports.
He takes delivery of goods from the ship and dispatches them to the importer. A clearing agent receives commission for his services from the importer.