Final 75-85Question. 7:15, Tuesday 19th
10% begining, 20% previous exam, 70% new materials
Chapter 15
EXPORTING
Major Concern: tax, currency, control, risk,
Proper procedure to manage risk of exporting
PO-Purchase Order
letter of credit <-- request letter of credit, can take money from their bank if they do not pay
draft: Instruction document that dictate payment terms, zero risk with US dollars.
"" : who's going to pay, how, when? wire transfer
Bill of lading: receipt, contract, document of title
manage risk associate with currency by using Dollars
letter of credit, make sure getting paid
P.0 dictate all the terms.
P.O. -> Ship -> Invoice
Cash flow
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