Basically, a trade service is a service that is provided to another person. This is usually an intangible service that is delivered to a consumer. Trade services vary from country to country.
Indian Trade Service
Amongst the group A central civil services of Government of India, Indian Trade Service is a special cadre that deals with international trade. It was formed on the recommendations of Mathur Committee in 1965.
The Cadre of Indian Trade Service is governed by Department of Commerce, which is the nodal department for India’s external trade affairs. Its role is to facilitate trade between India and foreign countries and formulate policies for India’s trade. The Department interacts with international agencies such as the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the World Trade Organization (WTO) to promote trade. The Department is also responsible for regulating India’s international trade.
Global Trade Services
Streamlining trade processes can be a good way to cut costs and speed up the customs clearance process. If you’re looking for a way to improve your international trade, look no further than SAP Global Trade Services.
Global Trade Services automates import and export processes and helps companies comply with the latest international legal regulations. It also provides visibility into the supply chain as it moves from one country to the next.
Global Trade Services also automates compliance with regional regulations. This feature allows companies to define their import and export trade processes in SAP ERP.
Infor has a strong dedicated team to provide support for their solutions. Infor’s suite of applications includes trade content services and B2B network.
CITI’s trade services
CITI’s Trade Services offers a full range of integrated trade finance solutions to help global corporations and financial institutions manage global payments and treasury risks. The business offers financial institutions and corporate clients with products that include import and export letters of credit, cash management solutions, reimbursements, and bid bonds. These products can be integrated with the client’s existing systems.
Citi’s Trade Services also provide access to a variety of SME trade finance markets. These include the CitiFX Pulse platform, which gives MSMEs total control over their forex business. The CitiFX Pulse platform has been designed to provide MSMEs with the tools and expertise needed to manage their forex business more efficiently.
Specified service trade or business
Specified Service Trade or Business (SSTB) is the name of the game for a trade or business that relies on the skills of its employees. Examples of this category include the consulting, financial services, and law firms. Using the name of this category, the IRS has rolled out a set of guidelines that make this type of business more tax-friendly to both the US taxpayer and its business partners. The IRS has also made it more likely that businesses of all sizes will be able to take advantage of the tax savings. The benefits of this new rule extend to businesses of all sizes, including sole proprietors, S corporations, and limited partnerships.
Using a STRI toolkit can help trade negotiators understand how trade restrictions affect services markets. The index helps to identify policy measures that restrict trade and to focus reform efforts on areas that need improvement. It also can help businesses determine what is needed to enter foreign markets. Find out more from Live Services group.
The STRI database, compiled by the Organisation for Economic Cooperation and Development, contains quantitative data on the presence of specific policies. This information is compiled into a composite index that is then translated into a binary score. The score reflects the presence of a policy measure, and whether it is a symmetric or asymmetric one. For each measure, there are multiple thresholds. Depending on the threshold, the measure is scored one, zero, or is rendered irrelevant.