Exam 15: Exporting and Logistics: Special Issues for Business

Under the FOB Inland Carrier at Point of Shipment,the buyer is responsible for costs or charges of all of the following EXCEPT:

A common term of sale for international goods is PAX (payment of account at site of export).

_______________ enables exporters that have authorization to submit license applications via the Internet for all commodities except supercomputers to all free-world destinations.

With respect to terms of sale,CIF stands for:

Export regulations may be designed to conserve scarce goods for home consumption or control the flow of ___________ goods to actual or potential enemies.

The ____________ is one of the U.S.government's efforts to increase border security in international trade.

According to U.S.Customs,the 24-hour rule states that all goods sent to the United States must be picked up within 24-hours of receipt to ensure that goods do not linger in receiving warehouses too long.

Every international transaction requires _______________,that is,a bill or statement for the goods sold.

The most important document required for establishing legal ownership and facilitating financial transactions is called:

What is the name of the system that integrates the location of plants and warehouses,transportation modes,inventory quantities,and packing?

Inconvertible currencies and cash-short customers can kill an international sale if the seller cannot offer long-term financing.Unless the company has large cash reserves to finance its customers,a deal may be lost.One way to solve this problem is a financing technique called forfaiting.

Reba Sinclair is going to export her fabrics to a company in Hong Kong.Though there are many arrangements that could be made to do this,Ms.Sinclair is going to use the typical arrangement used by most U.S.exporters when shipping goods abroad.Which of the following would that be?

The United States has specific quotas for importing cotton,tobacco,and peanuts.

If a seller uses a bill of exchange with a foreign buyer,the seller assumes all risk until seller receives the actual dollars.

Letters of credit shift the buyer's credit risk to the bank issuing the letter of credit.

A physical distribution system is considered to be only the physical movement of goods themselves.

Random Motors ships cars to Hong Kong on a constant basis.However,it is not unusual for the slower ocean freight method that the company uses to experience problems with weather,equipment breakdowns,accidents,or even labor problems.Which of the following would be the best suggestion for Random Motors to pursue to ensure that no out-of-stock conditions in Hong Kong would cause dealers and consumers concern?

Another term for a foreign-trade zone is a:

There are four electronic services designed to cut through the paperwork and time necessary to acquire export licenses.They are ELAIN,STELA,__________,and _______.

A foreign freight forwarder,as an agent for the buyer,arranges for delivery of goods,receives the goods,and then has the buyer come by and pick the goods up.