Why or why not? B. D. exporter's means of finance. Lockheed sold the refinery to D. D. letter of credit. Because as an agent, you're representing someone. Click the Export icon to the right of the export you wish to make. Small firms tend to be more aggressive than larger firms in global trade. C. Samurai, 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. Meanwhile, there are 19 job openings at Yusen Logistics and 7 at C.H. A. C. The commercial invoice is a legal document between the exporter and the buyer (in this case, the foreign buyer) that clearly states the goods being sold and the amount the customer is to pay. B. Build a professional import-export agent resume in minutes. C. D. Once you've obtained the level of education you're comfortable with, you might start applying to companies to become an import-export agent. Imposing tariffs is one way a country can work to improve its balance of trade. A. It helps international traders engage in trade with trust. C. D. ","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/9054"}}],"primaryCategoryTaxonomy":{"categoryId":34247,"title":"Operations","slug":"operations","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34247"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"Understanding types of agents","target":"#tab1"},{"label":"Looking at the benefits and challenges of being an agent","target":"#tab2"},{"label":"Representing clients and getting commissions","target":"#tab3"}],"relatedArticles":{"fromBook":[{"articleId":208407,"title":"Import/Export Kit For Dummies Cheat Sheet","slug":"importexport-kit-for-dummies-cheat-sheet","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208407"}},{"articleId":180518,"title":"Buyer and Seller Agreements in Importing and Exporting","slug":"buyer-and-seller-agreements-in-importing-and-exporting","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/180518"}},{"articleId":180517,"title":"Global Negotiations in the Import/Export Business","slug":"global-negotiations-in-the-importexport-business","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/180517"}},{"articleId":180519,"title":"Questions to Ask before Starting Your Import/Export Business","slug":"questions-to-ask-before-starting-your-importexport-business","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/180519"}},{"articleId":180516,"title":"Legal Dangers in International Trade","slug":"legal-dangers-in-international-trade","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/180516"}}],"fromCategory":[{"articleId":292019,"title":"Supplier Diversity For Dummies Cheat Sheet","slug":"supplier-diversity-for-dummies-cheat-sheet","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/292019"}},{"articleId":277402,"title":"Supply Chain Career Categories","slug":"supply-chain-career-categories","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277402"}},{"articleId":277394,"title":"Supply Chain Analytics: Correlation, Causation, and Interpolation","slug":"supply-chain-analytics-correlation-causation-and-interpolation","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277394"}},{"articleId":277388,"title":"Supply Chain Management: Planning and Scheduling Production","slug":"supply-chain-management-planning-and-scheduling-production","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277388"}},{"articleId":277383,"title":"How Supply Chain Processes Evolve","slug":"how-supply-chain-processes-evolve","categoryList":["business-careers-money","business","operations"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277383"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282293,"slug":"import-export-kit-for-dummies-3rd-edition","isbn":"9781119079675","categoryList":["business-careers-money","business","operations"],"amazon":{"default":"https://www.amazon.com/gp/product/1119079675/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119079675/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119079675-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119079675/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119079675/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/import-export-kit-for-dummies-3rd-edition-cover-9781119079675-203x255.jpg","width":203,"height":255},"title":"Import / Export Kit For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"

John Capela has taught marketing, management, and international business courses at St. Joseph's College in New York for 20 years. All sales are made through the firm's domestic sales department, as there is no export department. Master's Degree Human Resources Management. Performed logistics liaison functions between transportation carriers and customer representatives D. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. For China, the worlds largest exporting country, exports and a net positive balance of trade are critical to the success and growth of the countrys economy. A banker's acceptance: Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM). Bartering, The main attraction of _____ is that it can give a firm a way to finance an export deal when other means are not available. \end{array} \\ In a settlement, Lockheed agreed to pay for certain remediation costs. \textbf{ Room}& \textbf{Cost per Sq Yd }\\ It helps in easy currency conversion. Switch trading Next up, we have the freight broker profession to look over. The importer must pay a bank fee for the letter of credit. Which of the following is an advantage of exporting? John Capela has taught marketing, management, and international business courses at St. Joseph's College in New York for 20 years. D. The Export-Import Bank: The warehouse assistant profession generally makes a lower amount of money when compared to the average salary of import-export agents. C. D. The SBA employs trade officers throughout the United States. B. _____ is an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. An import-export agent responsibility is more likely to require skills like "data entry," "export," "international shipments," and "air freight." Just by understanding these different skills you can see how different these careers are. D. C. The ownership title remains with the distributor even on completion of the transaction. D. C. Which of the following is a disadvantage of using a letter of credit (L/C)? If you represent the seller, you have an obligation to sell that company's products at the highest possible price. B. Such agreements are aimed at stimulating trade and supporting economic growth for both countries involved. Please upgrade today! A. For example, suppose CADE International is an import/export agent headquartered in New York. E. A. U.S. government, _____ can avail loans from Ex-Im Bank to pay U.S. suppliers. is a time draft that has been drawn on and accepted by a bank. However, an agent does not take title to the goods and provides fewer services than a distributor does. In the principal-agent model, the principle, who makes decisions, hires an agent to carry out their instructions. For this reason, mining is commonly a key industry in such countries. B. matchmaker. Which of the following is a document used to give the title of the products to a bank? Counterpurchase A. bill of lading It gives the importer time to resell the merchandise before payment. B. C. It provides large revenue and profit opportunities. Specialize - choose your sector and products 4. D. Let us begin by defining an export agent. Export selling requires the use of marketing research and identification of market potential. Import or export agents are professionals who are required to act as the middle person for purchasing or selling products between both domestic and overseas companies. These skill sets are where the common ground ends though. B. Net exports are the estimation of the total value of a countrys exports minus the total value of its imports. In fact, freight forwarders are 1.1% more likely to graduate with a Master's Degree and 0.0% less likely to have a Doctoral Degree. D. The Foreign Credit Insurance Association provides coverage: D. A. C. The inflow and outflow of goods and services from one country to the rest of the world. C. A. Obviously, drawing a commission from both parties would create an ethical dilemma. \end{array} & \begin{array}{c} Instead, she's traditionally hired to bring together one-of-a-kind or nonrecurring deals.

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For example, a broker is contacted and advised that Company A in New York has an excess inventory of a soon-to-be-discontinued product. Why? We have detailed the most important import-export agent responsibilities below. C. Think of an import/export agent like a real estate agent: The buyer has an agent, and the seller has an agent, but the same agent doesn't represent both the buyer and the seller.

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If you choose to set up your business working as an agent, decide who you're going to represent and then work at nurturing that relationship. B. Robinson, the average import-export agent salary is $52,549. A. Promissory note, A _____ states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents. B) Most EMCs in the United States are large, representing a wide range of products and large number of companies. The agent's role is to get orders and (usually) earn a commission for his services. The following figure illustrates the relationship among the agent, the supplier, and the buyer.

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For example, suppose CADE International is an import/export agent headquartered in New York. Offset They are also responsible for issuing materials and other supplies for storage in the central warehouse. A. For the most part, brokers work for sellers, although some brokers do represent buyers. offset. B. As mentioned previously, import-export agents highest annual salary comes from the transportation industry with an average salary of $43,437. C. We've found that most import-export agent resumes include experience from Expeditors, Yusen Logistics, and C.H. Japan's _____ have offices all over the world, and they proactively, continuously seek export opportunities for their affiliated companies large and small. A draft used in international transactions: Maintain station reports of KPI performance. importer's bank sends the draft and bill of lading to the exporter's bank. Draft Which of the following is a nationwide group of international trade attorneys who provide free initial consultations to miniature businesses on export-related matters? The three companies that hire the most prestigious, Learn More About Import-Export Agent Job Descriptions, Then choose from 10+ resume templates to create your. A. GDP = C + I + G + X - M Where: C = Consumer expenditure I = Investment expenditure G = Government expenditure X = Total exports M = Total imports Net Exports D. the importer has paid the bank. a)They usually produce goods themselves. \text { Operations } D. to insure products during shipment. Robinson. D. SCORE It guarantees the importer extra funds for other purposes. B. Letter of credit. Countertrade prevents exchange of unusable or poor-quality goods. Bill of lading As a receipt, the bill of lading indicates that the carrier: While looking through the resumes of several import-export agents and warehouse assistants we discovered that both professions have similar skills. C. To bypass trade barriers in foreign countries. C. For example, you may identify a producer in the U.S. and work toward representing that producer (the seller) in foreign markets as the export agent. They are very different from export agents. Product and field research 6. To minimize the risk of being eliminated from future transactions, remember that an agent is not someone who makes a call and brings people together just to earn a commission. Those import-export agents who do attend college, typically earn either a business degree or a accounting degree. The person or business initiating a draft is known as the ____. We found that at C.H. (X-M) in the above equation represents net exports. For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. Robinson. For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. Buyback, In the modern era, the concept of countertrade arose as a way for the _____ to purchase imports. D. Some of the benefits of the agent option are the reduced start-up costs and the limited working capital you need. Study international trade and relevant business disciplines 3. Call us +30 2610 344578 or Email us Laura@eximagent.eu. And at The IMA Group, they make an average salary of $46,964. D. It includes buying and selling negotiations. Prepared required import export container documentation. B. Think of an import/export agent like a real estate agent: The buyer has an agent, and the seller has an agent, but the same agent doesn't represent both the buyer and the seller.

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If you choose to set up your business working as an agent, decide who you're going to represent and then work at nurturing that relationship. C. A. It guarantees the exporter pre-export financing. A. D. A. C. Coordinate international export shipments: booking, documentation handling, and meeting country import regulations to ensure customs clearance. A. B. Freight brokers have licensed property brokers who provide assistance to shippers in hauling materials. Need A Perfect Import-Export Agent Resume? Growth opportunities are often limited in global markets. Our AI resume builder helps you write a compelling and relevant resume for the jobs you want. Which of the following statements is true of countertrade? A. B. For example, several resumes showed us that import-export agent responsibilities requires skills like "data entry," "booking," "export," and "import export." B. bill of lading They are not intimidated by the complexities and mechanics of exporting to foreign countries and can, therefore, use the same reactive approaches that work in their home market. Which of the following is true of exporting? A. provides a written promise of payment before releasing the merchandise. C. The answer is no. It is also known as National Income (Y). Send arrival notices, tracking, arranging inland moves on containers and LCL cargo. By entering your email address and clicking the Submit button, you agree to the Terms of Use and Privacy Policy & to receive electronic communications from Dummies.com, which may include marketing promotions, news and updates. Financing is difficult when engaging in a countertrade. C. Place new order for internet service (sales). Only the specified Agent Data Groups are included in the output file. time draft allows a buyer possession of the merchandise without signing any formal documents. \end{array} ELAN Prepare a differential analysis dated May 4 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Countertrade Question: Which of the following is true of export agents? B. Organizations do not receive coverage against political risks of global trade. C. If you choose to set up your business working as an agent, decide who you're going to represent and then work at nurturing that relationship. Countries vary considerably with regard to how important imports and exports, and their overall balance of trade is to their economies. letter of credit CADE is aware that XYZ International is a manufacturer of quality women's sweaters in Japan and that Big-Name Department Store is interested in acquiring sweaters to sell to its customers. Build a professional resume in minutes using this template.

","authors":[{"authorId":9054,"name":"John J. Capela","slug":"john-j-capela","description":"

John Capela has taught marketing, management, and international business courses at St. Joseph's College in New York for 20 years. D. certain liabilities, including those relating to two speciffic contracts. A. D. Lockheed Martin Corporation owned an aluminum refinery in St. Croix, Virgin Islands, B. To remove antitrust disincentives to export activities. Counterpurchase bill of lading A. The platform the agent is installed on. World Trade Organization Their job involves linking carriers and shippers in hauling materials. C. exporter should obtain a letter of credit to initiate transactions. D. C. Deal with international shipments is payable to the drawee immediately on presentation in a bank. A. \text { Total expenses } & \$ 174,500 & \$ 139,000 \\ E. To combine export shipments within single containers. The _____ is issued to the exporter by the common carrier transporting the merchandise. 40) Which of the following is typically true of an export management company?A) It is usually a division of a manufacturing company. C. This is useful when you want to run agents with outer orchestration, such as Azure Container Instances. The exporter normally pays the agent for the expenses they have incurred marketing the firms products and handling the export administration, and will generally earn a commission on any sales generated. A is an entry strategy for a single target country in which partners share ownership of a newly created business entity. C. A common pitfall of exporting is trying too hard to customize a product offering rather than "sticking with what you know." D. They are taken into account as Net Exports. focuses on policies that have an impact on the exchange rate and the balance of payments. 2003-2023 Chegg Inc. All rights reserved. Direct all equipment logistics operations from supplier s warehouse to company s warehouse, following currency exchange control and customs regulations. The growth of economies of developing countries is often fueled by massive exports of commodities and raw materials to developed nations. & \begin{array}{c} A(n) _____ can help new exporters identify opportunities and avoid common pitfalls. For example, a broker is contacted and advised that Company A in New York has an excess inventory of a soon-to-be-discontinued product. Which of the following is a disadvantage of countertrade? A. Duties may also be different depending on where the agent is in the supply chain. receives payment from a third-party such as a bank or trading house. To keep advancing your career, the additional CFI resources below will be useful: A free, comprehensive best practices guide to advance your financial modeling skills, Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management (FPWM). It does not involve the physical handling and distribution of goods. C. The greater the effort you make in developing that relationship and representing the company, the more likely that company will be to maintain the relationship.

","description":"

An agent is similar to a distributor in that he's a middleman. Answer phones, giving different customers quotes on what there shipment would cost if they move with DHL. is an independent agency of the United Nations. Countertrade SalesDirectmaterialsDirectlaborPowerandmaintenanceTaxes,insurance,etc. buyback, The main attraction of a(n) _____ is that it can give a firm a way to finance an export deal when there are no other means available. against political risks faced by importers. MITI B. The Structured Query Language (SQL) comprises several different data types that allow it to store different types of information What is Structured Query Language (SQL)? The currency devaluation also makes purchasing from other countries more expensive, thus discouraging imports. While the salaries between these two careers can be different, they do share some of the same responsibilities. A ____ is the instrument normally used in international commerce to effect payment. 3.UMS can use Salesforce's daily backup service, which is provided via a zip file. The key is to develop a sound relationship with your connection and continually work toward increasing sales and improving the relationship.

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Representing clients and getting commissions

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The rate of commission when working as an agent depends on the nature and type of product, the nature of the market you're selling to, and the level of competition.

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If you bring a buyer from one country together with a seller from another country, can you earn a commission from both parties? \begin{array}{lc} CADE is aware that XYZ International is a manufacturer of quality women's sweaters in Japan and that Big-Name Department Store is interested in acquiring sweaters to sell to its customers. Kim Kwon Digital Components Company assembles circuit boards by using a manually operated machine to insert electronic components. In some cases, the principle will want to keep tight control over the agents activities, while in other instances, the agent is given free reign. B. C. Countertrade is not useful when trading with developing nations. Whether it's to pass that big test, qualify for that big promotion or even master that cooking technique; people who rely on dummies, rely on it to learn the critical skills and relevant information necessary for success. Show transcribed image text Expert Answer 100% (1 rating) Answer Option 3 is correct. Offset D. In general, freight brokers study at similar levels of education than import-export agents. countertrade. When it comes to education, warehouse assistants tend to earn similar education levels than import-export agents. D. B. _____ is the direct exchange of goods and/or services between two parties without a cash transaction and is the simplest arrangement. C. See Page 1. B. The tariffs make importing goods and services more expensive than purchasing them domestically. Imports are the goods and services that are purchased from the rest of the world by a countrys residents, rather than buying domestically produced items. A. D. In many countries including the United States, a person must pass a customs broker exam to be licensed to operate in that country.

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