Exam 16: Exporting, Importing, and Countertrade

The Export-Import Bank ____.

Exporters often face voluminous paperwork and complex formalities.

Explain countertrade and its purpose.

Through its _____ program, the SBA oversees about 850 volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses.

What is the main attraction of countertrade?

A buyback occurs when a direct exchange of goods or services occur between two parties without a cash transaction.

Describe a typical international trade transaction.

In the _____ program organized by the U.S. Department of Commerce, department representatives accompany groups of U.S. businesspeople abroad to meet with qualified agents, distributors, and customers.

Ex-Im Bank has a direct lending operation under which it lends dollars to foreign borrowers.

Describe the information sources that are available to American companies to learn about export opportunities?

Foreign borrowers can avail loans from Ex-Im Bank to pay U.S. suppliers.

In theory, the advantage of EMCs is that they are __________________.

As a receipt, the bill of lading indicates that the carrier ____.

A _____ allows for a delay in payment.

A _____ states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents.

Counterpurchase occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made.

The great promise of exporting is that ____.

A sight draft allows for a delay in payment.

Discuss the importance of the Export-Import Bank, its goals, and its operations.

The bill of lading is a product guarantee issued by the exporter to the importer.