Final Study Guide on questions I missed Flashcards
Value added tax
only final customer pays for tax
ad valorem
duty based on the value of the import
temporary protection tax
non tariff barrier
duty drawback
US based firm would use a taxbreak on importing components to reduce taxes; for international transactions
As an exporter, you’re confident with winning a dispute with an importer. This would be _______ since it is enforced an binding
arbitration
Bill of lading serves as
certificate of title to own the goods
corporate accounts
Agents are not encouraged if exporters keep large numbers of these accounts to themselves
An exporter can conduct its international business as if it were a domestic business. This suits an _______ payment
open account
Documentary collections is less _____ and less_______ compared to letter of credit
cumbersome, expensive
An open account with credit insurance is the most
consumer friendly
Type of exchange rate for immediate currency is called _______ exchange rate ; great for immediate conversion
spot
Credit terms can be lengthened through _____ and _____
forfeiting, factoring
