0
Importing and Exporting
Importing refers to the act of bringing services and goods from a foreign market into the country. Exporting, on the other hand, refers to the act of selling goods and services from the home country to other countries.
5,102 Questions
What are the incoterms cover insurance for buyers?
The only two incoterms®rules that indicate the goods must be insured are CIF and CIP.
Insurance is taken out by the seller in the buyer's name and the insurance must be for minimum 110% of the shipment value.
For all the other incoterms® rules it's unclear if the seller or buyer is arranging insurance.This can lead to inadequate or no insurance and must be clearly written in the contract.
Buyers pay attention!
If seller is taking care for the insurance he is free to choose what the coverage of the insurance will be.
This is not what you want! Always mention the required insurance conditions in your contact.
What are the two major exports of Venezuela?
Venezuela's main exports are oil and petroleum. 80% is oil.
What are examples of multidomestic companies in Canada?
A multidomestic company is one that operates in more than one country. Canada, in sharing a border with the US, finds many companies from the US in business there, such as Walmart and McDonalds.
What do countries gain by exporting goods to other countries?
any country that is exporting something is gaining from the deal. if they export then they are selling something so any country makes money.
What is an example of a protectionist trade policy?
An example is a protectionist trade policy would be a tariff on imports, or quotas on the volume of imports.
What was the major effect of the the Stamp Act 1765 on colonial trade?
The Stamp Act imposed a tax on every piece of printed paper colonists used. Colonists viewed the Act as an attempt to make money off the colonists. They believed it set a precedent and resisted it.
What is the meaning of shipping bill?
Customs document used where drawback is claimed, such as on goods exported or on dutiable goods transshipped or re-exported from a bonded warehouse. It serves basically as a statistical record.
What doews china import and export?
Import: Toys, lead paint, computer parts, household goods, copper, and raw cotton.
Exports: Coal, honey, ore, petroleum, natural gas, antimony, and molybdenum.
Your welcome. :P
Can you discounting a lc non transferable?
Discounting is a term used for the actual drawing/negotiation that takes place under an Lc (Letter of Credit). The credit conform (accepted) documents/draft are due for deferred payment and the presentor does not want to wait for its funds till maturity date. Whether the LC is transferable or not is of no importance here. The LC itself should be 'discountable' (it is safer to have this in special instructions of the LC terms).
The discounting then depends on the parties concerned, and the price for discounting (discounting rate/Libor/Airbor+spread) and the willingness of the bank that should discount. Discount can be performed with or without recourse.
