Exam (elaborations)
BUSI 3250 Panama Exam 4 Questions and Answers
- Course
- Institution
BUSI 3250 Panama Exam 4 Questions and Answers
[Show more]
Content preview
BUSI 3250 Panama Exam 4 Questionsand Answers
US Department of Commerce - Answer-The International Trade Administration is under
this umbrella
Incoterms - Answer-Universal trade terminology developed by the International
Chamber of Commerce, describe which party does which tasks, which party covers the
costs, and which party bears the risk
Letter of credit - Answer-"basically riskless," document issued by the buyer's bank that
promises to pay the seller a specified amount when the bank has received certain
documents
U.S. Export-Import Bank (Ex-Im Bank) - Answer-The principal government agency that
provides loans, guarantees, and insurance programs to support U.S. exporters
Overseas Private Investment Corporation (OPIC) - Answer-A government corporation
that offers U.S. investors in developing countries insurance against expropriation,
currency inconvertibility, and damages from wars and revolutions
Ex-Works (named place) - Answer-Seller makes goods available at factory or
warehouse, where risk passes
FCA (named place) - Answer-Free carrier, seller hands over goods to carrier at a
named place, where risk passes
CPT (named destination) - Answer-Carriage paid to destination, seller pays for carriage,
while risk passes when goods handed to carrier
FAS (named loading port) - Answer-Free alongside ship; seller clears the goods for
export and places them by the ship, risk passes at rail.
FOB (named loading port) - Answer-Free on board; seller loads goods, risk passes at
rail.
CFR (named destination port) - Answer-Cost and freight; seller pays costs of freight to
bring goods to destination port. This does not include insurance. Risk passes once
goods are loaded.
CIP (named place of destination) - Answer-Carriage and insurance paid to destination,
while risk passes when goods are handed to carrier
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now