Statement From The Chairman /Chief Executive
The purpose and goal of establishing an International Trade & Investment (ITI) is to improve the quality of trade, Cultural and Investment of citizens of Compton and the States of California through global relationships. The intent is to increase the creation of jobs, investments, businesses, tourism, economic opportunities and other incentives designed to encourage stronger developments between governments, businesses,organizations and the world . To facilitate direct importing and exporting trade, to eliminate trading impediments, and to maximize trading opportunities. To learn from one another, to generate the sharing of technical knowledge and to exchange cultural diversity. To ultimately build an economic bridge between to the City of Compton , State of California and the global community; yielding positive and tangible resources.
International Trade and Investment company has embarked on a major economic trade development endeavor. The trade mission to Nigeria in January 1993, along in the entourage Mayor Barnes of Gary, Indiana . Councilpersons and business executives has generated much interest, and commitment to development trade with Nigeria. To expedite our ability to coordinate our international relationships, International trade and Investment company was born. International; commerce is a rapidly growing phenomenal as we prepare for the 21st Century. Therefore, this office is designed to promote and explore economic development opportunities, potential public work projects, scientific & technical transfers, student educational exchanges, tourism, and import projects.
International trade and Investment company is located in Corporate Offices at 5428 Crenshaw Blvd, Los Angeles, California 90043.
The telephone number is (323) 292-6296 (Ext. 404) Fax number is (323) 292-6838.
This is an excellent opportunity for expanding the role of Compton, and the State of California in the global market place.
It is very exciting about the inherent possibilities of international relationships. Through concentrated efforts, global commerce can be a reality for all to share in a brighter future.
I extends to you my expression of gratitude for being a participant in the INTERNATIONAL TRADE AND INVESTMENT COMPANY.
Sincerely;
Kanmi C. Fashola
Chairman/Chief Executive
OUR MISSION
...PROMOTE & PROVIDE
...THE FOLLOWING:
...TRADE
...TOURISM
...INVESTMENT
...TECHNOLOGY TRANSFER
...TWINNING OF CITIES
FINANCIAL ACCOUNTABILITY
The International Trade & Investment Office will use Lotus 1-2-3 and D-Base IV to record, monitor and evaluate all financial transactions from domestic and foreign vendors. The International Trade & Investments Office will access, store, and record accounts receivable and payable for a check and balance system in comparison with the Controller’s office records. The Internationals Trade & Investment Office will maintain an extensive documentary and financial record management of all monetary circulation.
I. International Trade and Investment(ITI) will establish an account with United Bank of Africa (UBA) in Nigeria and Chemical Bank in New York. UBA is one of the oldest banks in Nigeria. With UBA’s connection to Chemical Bank, which is a well known bank in the U.S.A., we are adjoining to an experienced banking system in International transactions. All transactions will be done by wire transfers. For acceptance of the wire transfers from the Chemical Bank, we will establish an account with United Bank of Africa. All transactions will be in U.S.A. currency.
II. The International Trade & Investment Office is requesting from domestic and foreign vendors, depending on which is the buyer, Monies to be deposited into a designated account. The designated account will be assigned according to whether the account foreign or domestic vendors. The designated account will be assigned according to whether the buyer is foreign (in Nigeria) and wants to export from U.S.A., the designated account for deposit will be the United Bank of Africa. The UBA will wire transfer funds to Chemical Bank and in turn, Chemical Bank will wire transfer to United Bank of Africa. If the buyer is domestic (in the U.S.A.) and wants to import from Nigeria, the designated account will be United Bank of Africa. All deposits must be in the amount of the Pro-Forma invoice which will include shipping and insurance.
III. For easier and convenient transfer, the United Bank of Africa must communicate with its parent company, Chemical Bank in New York. This will establish a permanent record for all wire transfers to and from UBA. If there are any discrepancies involving a wire transfer to or from UBA, Chemical Bank will be responsible for the investigation.
IV. Upon acknowledgement from UBA to Chemical Bank, Chemical Bank will notify Bank of Africa of a forwarding wire transfer to the International Trade & Investments Office account. Bank of Africa will notify the Bank of Africa’s International Trade & Investments Office of the receipt transfer.
V. The I.T.I. accounting department will record the deposit from the wire transfer into an account designated for I.T.I.
VI. Accounting Office will dispense disbursement through claim process upon approval by the accountant and any other approval signature as directed by I.T.I.
INTERNATIONAL TRADE & INVESTMENT COMPANY.
Purpose of Contract to I.T.I. Office.
Issued (I.T.I.) Application Package: Yes——— No———
Date of Issuance ————————
Coordinator’s Initials ———————
If no, briefly explain reason
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Procedures
(1) Every individual or business requesting assistance from I.T.I. must be interviewed. During the interview, reasons for potential involvement should be revealed.
(2) An application package will be given for completion. Carefully review the required information.
(3) Select a payment plan for the annual enrollment fee. Make checks payable to International Trade & Investment Company. Return all required documents and enrollment fees to International Trade & Investment Company as soon as possible.
(4) The International Trade & Investment Company will verify information for accuracy and validity.
(5) If the information is accurate, International Trade & Investment Company will mail a letter, acknowledging acceptance of application. If the information is inaccurate, the Individual or Business will be mailed a letter , to schedule an appointment with I.T.I. The appointment will allow the individual or business to discuss, evaluate and/or resolve any discrepancies. If discrepancies are not resolved favorably, the enrollment fee will be returned.
(6) Upon receipt of letter of acceptance, a certificate will be issued to the individual or business from I.T.I. The certificate will be valid for one (1) year, commencing on the day of acceptance.
(7) International Trade & Investment Company will match domestic vendors with foreign vendors according to supplies, products and/or service.
(8) Upon completion of matching vendors, the domestic vendor must provide the following: a. Copy of current year license (s) b. Listing of brief description of requested products. c. Price quote of each item (indicate whether new or used). Quote in U.S. Dollars. Use Pro-Forma invoice. d. Each price quotation must state the duration period in which the offer remains valid. e. Gross and Net shipping weight must be provided. If appropriate, use metric units. f. Total cubic volume and dimensions in packing for export must be provided. If appropriate use metric units.
(9) Proper packing is essential in exporting. Prepare with the following considerations in mind:
....Pack in strong containers, adequately sealed and filled when possible.
....Make sure the weight is evenly distributed to provide proper bracing in the container, regardless of the size. Containers may be dragged, pushed, rolled, or dropped during loading and unloading.
...Goods should be packed in oceangoing containers, if possible, or on pallets to ensure greater ease in handling.
...Packages and packing filler should be made of moisture-resistant material.
...To avoid pilferage, avoid mentioning contents or brand names on packages. In addition, strapping, seals, and shrink wrapping are effective means of deterring theft.
(10) Labeling and specific markings are used on export shipping cartons and containers to meet shipping regulations, ensure proper handling, conceal the identity of contents and to help receivers identify shipments. Many markings may be needed for shipment. Exporters need to put the following markings on cartons to be shipped:
...Shipper’s mark.
...Country of origin (U.S.A.).
...Weight markings (in pounds & kilograms).
...Number of packages and size of cases (inches and centimeters).
...Handling marks (international pictorial symbols).
...Cautionary markings such as “This side Up” or “Use No Hooks” (in English and in the language of the country of destination).
...Port of Entry. (Will be provided by the International Office).
(11) Insurance and shipping costs must be included in each price quotation.
INSURANCE- Damaging weather conditions, rough handling by carriers, and other common hazards to cargo make insurance protection important to U.S. firm responsible for insurance, it should either obtain its own policy or insure cargo under a freight forwarder’s policy for a fee.
SHIPPING- Freight forwarders are often used in international shipping. The cost of shipping will vary depending on the total shipment weight, volume and destination.
(12) Methods of Payment- CASH IN ADVANCE in most cases. Since getting paid in full and on time is of utmost concern to exporters, cash in advance is the most desirable method. However, payment will not be released until merchandise is received by acknowledgement. The International Trade & Investment Office will be the account holder of wire transfer for all transactions.
LETTER OF CREDIT- The letter of credit is a bank’s promise of paying the exporter when all terms and conditions have met compliance. Before payment, the bank is responsible for making payments verifies that all documents are exactly as required by the letter of credit. Full compliance is mandatory before payment can be made. Upon receiving a letter of credit, the exporter must carefully compare the letter’s terms with terms of the exporter’s pro forma quotation. This point is extremely important, since the terms must be precisely met or the letter of credit may be invalid and the exporter may not be paid.
LIST OF REQUIREMENTS
1. Profile of Company
2. Company’s Financial Statement or W-2 from previous year
3. Resume’ of Owner of Company OR Corporation
4. Two (2) Letters of Reference
5. Letter authorizing one (1) representative to act on behalf of Corporation Owner or Company
6. Resume’ of Authorized representative
7. List of product (s) or services
EXPORTS FROM U.S.A. TO AFRICA
AGRICULTURAL EQUIPMENT & SUPPLIES
AIR FREGHT SERVICES
ARCHITECTURAL SERVICES
BUILDING SUPPLIES
CARPENTARY
CEMENT MIXTURE
COMPUTER SYSTEM
CLOTHING TEXTILES
CHEMICALS
COMMUNICATION SYSTEMS
CONSUMER CANNED GOODS
ELECTRONIC GAMES SYS.
ENGINEERING SERVICES
EDUCATIONAL BOOKS & SYS.
ENERGY FACILITY SYSTEM
FROZEN FOOD PRODUCTS
HOSPITAL EQUIPMENT & SUPPLIES
HOUSEHOLD APPLIANCES
INDUSTRIAL SPARE PARTS
LAWN & GARDEN EQUIP.
MACHINES PARTS & SUPPLIES
MOTORCYCLES MACHINES
(COMMERCIAL & INDUSTRIAL)
OFFICE EQUIPMENT
OFFICE FURNITURE
OFFICE SUPPLIES
PHARMACEUTICALS
PLAYGROUND EQUIP.
PLASTICS
PLUMBING EQUIP.
RESTAURANT EQUIP. & SUPPLIES
TRACTORS
TECHNICAL SYSTEMS
STEREO-AUDIO EQUIP.
TRUCK & PARTS
TRAILERS-MOBILE HOMES
TIRES & TARPAULINES
VEHICLE MAINT. EQUIP.
VIDEO EQUIP.
MOVIE & FILM EQUIP.
VCR RECORDERS
WATER USAGE VEHICLES
OIL SPILLAGE EQUIP.
IMPORTS FROM AFRICA TO U.S.A.
ACID & DERIVATIVES
COCOA
COCOA BEANS
COCOA LIQUOR
COCOA POWDER
COCONUT OIL
COALINE CRAW & PROCESSED
COTTON SEED OIL
CHILIES
CASSAVA
COTTON TEXTILE
COTTON LINTS
CATTLE HIDES
FURNITURE COMPONENTS
FLUSH DOORS
GROUNDNUT CAKE
GROUNDNUT OIL
GROUNDNUT
GINGER CASHEW NUT
GELZNA (LEAD ZINC)
GOAT SKIN
HANDICRAFTS
IRON ORE
KOLA NUTS
LEATHER FINISHING
LEATHER OF SHEEP
LEATHER OF GOAT
LIMESTONE
COLUMBINE
MARBLE
NATURAL GAS
PALM KERNEL
PALM WINE
PLYWOOD
PRATICLE BOARDS
PEANUTS
PLASTIC PRODUCTS
PETROLEUM
RICE
RUBBER
SHEEP SKIN
TIN METAL
TIMBER
TOBACCO LEAVES
VENEER
WOOD CARVINGS
WHEAT BROWN PILLARS
YAMS
YAM FLOURContact Us:
5700 Crenshaw Blvd.
Los Angeles, CA 90043.
Mailing Address
P.O. Box 431631
Los Angeles, CA 90043
Telephone (323) 292-6397 (404)
Fax (323) 292-6838
Email iti@accandi.com
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