PLM: Chapter 12 || All Answers Are Correct 100%.

Agreement on Textiles and Clothing (ATC) correct answers an international agreement that eliminated quota for the importation of apparel products in 2005 CMT (cut-make-trim) correct answers a vendor who cuts fabric provided by the client, assembles and finishes the product, and ships it direct sourcing correct answers process of engaging the services of apparel vendors from cut, make, and trim factories to full package vendors without using an intermediary or agent. Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) correct answers a multilateral trade agreement between the US and El Salvador, Guatemala, Honduras, Nicuragua, the Dominican Republic, and Costa Rica that features 100 percent duty free exportation of consumer goods to the United States dumping correct answers a practice of selling off goods that have lost value in the open market to a country that has no import restrictions, thereby threatening the value of the same product in the local economy duty correct answers taxes or tariffs charged on imports free trade correct answers an international business environment in which importers and exporters can buy and sell products and services without restrictions of duty or quota free trade zones correct answers property owned by a host government set aside for foreigners to conduct business with freedom from import duties, relaxation on some local regulations and taxes, relaxed export procedures, and added security Free Trade Agreement (FTA) correct answers a form of bi-lateral trade agreement that encourages trade between partners and by decreasing or eliminating tariffs on specific import products and opening markets for export Generalized System of Preferences (GSP) correct answers A policy of the WTO that allows differential duty arrangements between developing and developed member nations for the purpose of supporting the growth of markets for the developing nation. joint venture correct answers an offshore facility owned by a US company in partnership with a business based in another country licensees correct answers a vendor who provides all services to create and distribute a product, including design, development, manufacturing, marketing, and sales modular manufacturing system correct answers a method of garment factory organization in which small teams of operators work together on small quantities of product, conducting multiple tasks at one machine