which of the following is true of export agents

Cross-selling C. The agent's role is to get orders and (usually) earn a commission for his services. & \begin{array}{c} is a sight draft that can be used as a negotiable instrument in banks. Prepared quarterly and year-end reports in accordance with GAAP including federal income tax, property tax, commission and insurance reports. Draft to Lockheeds suit? B. Full responsibility for financial statements and other financial reports. It's their job to sort, organize, and keep stock in the right location. The inflow and outflow of goods and services from one country to the rest of the world. Maintain station reports of KPI performance. Which of the following is a major advantage of using a letter of credit? Create ITN number, filling for AES regulation. C. Show transcribed image text Expert Answer 100% (1 rating) Answer Option 3 is correct. against political risks faced by importers. Browse through our resume examples to identify the best way to word your resume. Which of the following is a major drawback of engaging in countertrade? receives payment from a third-party such as a bank or trading house. Answer phones, giving different customers quotes on what there shipment would cost if they move with DHL. the bank promises to pay on the importer's behalf. importer's bank sends a letter of credit to the exporter's bank. A. An example of the quality issue is illustrated by Sony televisions, which are perceived by many consumers as being of notably superior quality to other brands. D. Which of the following is an advantage of exporting? A _____ is issued to the exporter by the common carrier transporting the merchandise. The peer service is added as an attribute to a span whose host or IP address match the mapping. 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. C. 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. Exim Agent 2015 All rights reserved - Website by YES Internet. international trade is protected against exchange risks. When it comes to education, warehouse assistants tend to earn similar education levels than import-export agents. 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. Switch trading, A(n) _____ occurs when a firm builds a plant in a country and agrees to take a certain percentage of the plant's output as partial payment for the contract. _____ is the direct exchange of goods and/or services between two parties without a cash transaction and is the simplest arrangement. Which of the following is true of exporting? C. They're 1.4% less likely to obtain a Master's Degree while being 0.0% more likely to earn a Doctoral Degree. C. A common pitfall of exporting is trying too hard to customize a product offering rather than "sticking with what you know." D. It helps in easy currency conversion. The names of any groups the agent belongs to. Soviet Union and the Communist states of Eastern Europe, _____ is viewed as the most restrictive countertrade arrangement. maker Maintain and update CMP, rate sheets, etc. Letter of credit. For the most part, brokers work for sellers, although some brokers do represent buyers. He is president of CADE International, which provides consulting and training in international business including importing, exporting, licensing, and foreign investment. This is a unique website which will require a more modern browser to work! D. A is an entry strategy for a single target country in which partners share ownership of a newly created business entity. Trained and mentored import/export operations for areas of improvement within the import/export department. While the salaries between these two careers can be different, they do share some of the same responsibilities. Which of the following is a document used to give the title of the products to a bank? Exporting is not beneficial to a country's economy. Study international trade and relevant business disciplines 3. The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor.

On the downside, when you're doing business as an agent, you run the risk that the parties will bypass your firm and deal directly with each other on any future transactions.

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. Offset Transportation brokers tend to earn a higher pay than import-export agents by about $3,801 per year. CADE is a middleman, bringing the seller and buyer together but not taking title to the goods and not providing any of the services that a distributor may perform.

An agent

Is independently owned
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Does not take title to the products being purchased and sold
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Is actively involved in the negotiations for either the sale or purchase of the products
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Understanding types of agents

The import/export business has two main types of agents:

Traditional import/export agents: An export agent works in the country where the product is produced. Growth opportunities are often limited in global markets. Interestingly enough, warehouse assistants earn the most pay in the transportation industry, where they command an average salary of $36,486. \end{array} In addition, criminal violators may be sentenced to prison time up to 20 years and administrative penalties may include the denial of export privileges. buyback A. It helps international traders engage in trade with trust. Barter B. Countertrade contracts may involve the exchange of unusable or poor-quality. He is president of CADE International, which provides consulting and training in international business including importing, exporting, licensing, and foreign investment. On the other hand, a negative net exports figure indicates a trade deficit. The answer is no. Why? barter Freight forwarders tend to reach similar levels of education than import-export agents. 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. So much so that the likelihood of them earning a Master's Degree is 0.2% less. Switch trading, In a(n) ____, one party agrees to purchase goods and services with a specified percentage of the proceeds from the original sale and this party can fulfill the obligation with any firm in the country to which the sale is being made. barter This is a one-time deal, because as soon as the goods are purchased, they'll no longer be available. B. D. Additionally, they're less likely to earn a Doctoral Degree by 0.0%. D. The answer is no. in-house trading department B. For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. The agent may travel abroad, do research, prepare an export plan, advise the exporter on how to adapt their marketing mix, make contact with potential buyers, negotiate deals with the buyers, take care of all promotional activities, handle the logistics and documentation, and much more. B. The tariffs make importing goods and services more expensive than purchasing them domestically. experienced specialists who can help the neophyte exporter. switch trade B. We used info from lots of resumes to find that both import-export agents and freight brokers are known to have skills such as "customer service," "third-party logistics," and "track shipments. B. They handle all activities required to move products from one country to another. not-for-profit organizations that provide free service. sogo shosha offset. \hline \text { Sales } & \$ 205,000 & \$ 205,000 \\ While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. D. To earn the highest possible profits in foreign countries. An import-export agent responsibility is more likely to require skills like "data entry," "export," "international shipments," and "air freight." Prepare the analysis over the useful life of the new machine. Which of the following is an advantage of countertrade? A. certain liabilities, including those relating to two speciffic contracts. 1,5004,000Sellingandadministrativeexpenses45,00045,000Totalexpenses$174,500$139,000\begin{array}{lcr} Processed overnight international shipments for various accounts. Gross Domestic Product (GDP) is the gross market value of the total goods and services produced within the domestic boundaries of a country during a given period of time. Governments devalue their currency with the aim of bringing down the prices of domestic goods and services, the ultimate goal being to increase net exports. The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor. C. Importers usually issue a _____ to importers in international transactions. , or offline. Since they are not actively engaged in the task, the principal is less informed than the agent. As is the case with most jobs, it takes work to become an import-export agent. Export-Import Bank Advanced understanding of logistics functions For example, if set to the following: A. C. C. Why or why not? All sales are made through the firm's domestic sales department, as there is no export department. B.
","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. Explain your reasoning. If you're interested in companies where import-export agents make the most money, you'll want to apply for positions at C.H. Performed logistics liaison functions between transportation carriers and customer representatives These professions include a freight forwarder, freight broker, warehouse assistant, and transportation broker. Or you may work as an import agent based in the country where the product will be sold, in which case you represent the buyers. AppDynamics Ansible Collection. C. After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming an import-export agent. For example, several resumes showed us that import-export agent responsibilities requires skills like "data entry," "booking," "export," and "import export." Generally speaking, import-export agents earn anywhere from $33,000 to $67,000 a year, which means that the top-earning import-export agents make $26,000 more than the ones at the lower end of the spectrum. It does not involve the physical handling and distribution of goods. Train fellow employees on specialized accounts. European Union Export Agents, Merchants, or Remarketers. The export is configured to include all Agent Data Group data and at least one Agent Data Group has been defined. Once you've obtained the level of education you're comfortable with, you might start applying to companies to become an import-export agent. 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. Master's Degree Human Resources Management. It increases the trade deficit that nations have. List of Excel Shortcuts B. Which of the following is true of the distribution process? subsidized by the Department of Commerce. They move materials and inventory across the facilities. In the principal-agent model, the principle, who makes decisions, hires an agent to carry out their instructions. Prepare paperwork for consolidated boxes Support the import department & interact with the brokerage department for customs clearance shipment. Glencore. Prepared required import export container documentation. counterpurchase You'll get a detailed solution from a subject matter expert that helps you learn core concepts. They are very different from export agents. They are taken into account as Net Exports. A. B. Cluster Administration Logging Architecture Logging Architecture Application logs can help you understand what is happening inside your application. A. For example, the U.S. might enter into a trade agreement with Japan where Japan agrees to buy a certain amount of American-made automobiles in exchange for the U.S. increasing its imports of Japanese rice. B. offset D. B. a)They usually produce goods themselves. C. Experts are tested by Chegg as specialists in their subject area. B. C. Countertrade However, an agent does not take title to the goods and provides fewer services than a distributor does. ELAN By concealing information or using their expertise in ways that benefit themselves more than the principal, the agent is able to shirk . B. Total imports and total exports are essential components for the estimation of a countrys GDP. Countertrade occurs when goods and services are traded for other goods and services. Therefore, despite the fact that Sony TVs carry a significantly higher price tag, they still outsell many other brands because consumers are willing to pay more for superior quality. B. A. D. Meanwhile, there are 19 job openings at Yusen Logistics and 7 at C.H. matchmaker. D. It helps companies increase their unit costs. The great promise of exporting is that: The warehouse assistant profession generally makes a lower amount of money when compared to the average salary of import-export agents. 1.UMS can download an app from the AppExchange. United Nations Utilize Internet, multiple FedEx systems for customer databases, spreadsheets & manifest scrolling. A broker differs from the traditional import/export agent in that she doesn't usually represent a company. has obtained the merchandise described on the face of the document. D. EMC Domestic borrowers A broker differs from the traditional import/export agent in that she doesn't usually represent a company. 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. Barter matchmaker RoomCostperSqYd103158$20.50\begin{aligned} \text { Direct materials } & \$ 72,000 & \$ 72,000 \\ A. 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. SCORE GDP = C + I + G + X - M Where: C = Consumer expenditure I = Investment expenditure G = Government expenditure X = Total exports M = Total imports Net Exports It is not attractive to small organizations. Glencores contract with Lockheed was not on the list. A. offset countertrade MITI Quoted ocean FCL & LCL rates to all the customers in order to satisfy their shipping needs. D. D. For years, wineries in the United States experienced difficulties even selling their products domestically, largely because of the fact that U.S. wines were not considered to be of the same quality as, say, French or Italian wines. D. Counterpurchase Product and field research 6. Securing financing is rarely a problem for exporters. 4.UMS should contact Salesforce Support for a free backup. A. It is the most comprehensive source of export opportunities information. CADE is a middleman, bringing the seller and buyer together but not taking title to the goods and not providing any of the services that a distributor may perform. The skills they must acquire include road transportation, packing, stocking, loading, shipping, and general labor. C. letter of credit Billing invoices Select one alternative: O Strategic alliance Joint venture o Greenfield investment O Franchising O Contract manufacturing Build a professional import-export agent resume in minutes. Lockheed Martin Corporation owned an aluminum refinery in St. Croix, Virgin Islands, \text { Operations } B. C. to insure that products are delivered that have already been paid for. Exporting goods and Hazardous material, Schedule and book urgent airfreight shipments through World Port. D. D. 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. On the downside, when you're doing business as an agent, you run the risk that the parties will bypass your firm and deal directly with each other on any future transactions. 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. 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. The sourcing decision is one of the most complex and important decisions faced by a global company. A positive net exports figure indicates a trade surplus. Prepare documentation as master BOL, shippers export declarations, cargo release, pickups, delivery orders and others. least attractive to large, diverse multinational enterprises. bill of lading All of these tasks, the export will do on the exporters behalf. In a typical international trade transaction, the: Need A Perfect Import-Export Agent Resume? B. An agentData element will be included in the output file if any of the following are true: The export is configured to include an Agent Data Group values. It guarantees the exporter pre-export financing. A good example of quality perception affecting imports/exports can be drawn from the wine industry. D. Countertrade On average, the import-export agent annual salary is $47,326 per year, which translates to $22.75 an hour. 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. against commercial risks and political risks faced by exporters. 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. D. The IPv4 or IPv6 address of the agent. So the broker brings Company A and Singapore Electronics together for this one-time deal, and in return, the broker receives a commission from Company A.
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Looking at the benefits and challenges of being an agent

Some of the benefits of the agent option are the reduced start-up costs and the limited working capital you need. is payable to the drawee immediately on presentation in a bank. A. To allow U.S. companies to bypass tax laws with respect to international trading. Employees in both import-export agents and freight forwarders positions are skilled in customer service, booking, and import export. is an international financial institution that provides loans for capital programs. D. Buyback A) manufacturers' agent B) export and import broker C) freight forwarder D) manufacturers' export agent Answer: C Diff: 2 Skill: Application Objective: 3 The Mitsubishi Corporation is a firm that is directly engaged in importing and exporting a wide variety of goods for its own account and is a part of a keiretsu system. The Export-Import Bank: A. D. Instead, she's traditionally hired to bring together one-of-a-kind or nonrecurring deals.

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. This helps bring down the price of domestic goods and services, hopefully, encouraging consumers to buy domestic rather than imported goods. A. For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. Only the specified Agent Data Groups are included in the output file. is obligated to provide a transportation service in return for a certain charge. managed by governments that provide export subsidies. Select the best supplier & sign the commission agreement explains the conditions of a contract. A. A. Counterpurchase In fact, freight brokers salary difference is $5,064 higher than the salary of import-export agents per year. However, an agent does not take title to the goods and provides fewer services than a distributor","noIndex":0,"noFollow":0},"content":"

An agent is similar to a distributor in that he's a middleman. Typically, freight forwarders earn a $9,111 lower salary than import-export agents earn annually. Exporters often face voluminous paperwork and complex formalities. bill of lading Next up, we have the freight broker profession to look over. Robinson. exporter should obtain a letter of credit to initiate transactions. Navigate to Digital > Exports in the left navigation bar. The Foreign Credit Insurance Association provides coverage: sight draft B. before product shipment. from the exporter's bank. Build a professional resume in minutes using this template. \end{array} 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. B. A. Let us begin by defining an export agent. In fact, they're 3.7% less likely to earn a Master's Degree, and 0.2% less likely to graduate with a Doctoral Degree. Provide technical helpdesk support for AT&T/Bellsouth Internet Service Clients. A broker differs from the traditional import/export agent in that she doesn't usually represent a company. Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition. Key CPA accounts, including multiple spec accounts 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. Which of the following statements is true of EMCs? \text { Selling and administrative expenses } & 45,000 & 45,000 \\ C. It gives the importer time to resell the merchandise before payment. Offset Buyback, In the modern era, the concept of countertrade arose as a way for the _____ to purchase imports. that produced hazardous waste. C. Enter on a large scale to flood the market. D. D. A. _____ is an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. 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.

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. It is an effective way of doing business with developing nations. D. Service reservations and answer questions pertaining to air cost, documentation, flight policies and procedures. A. A key feature of the traditional export agent is that they never really take ownership of the goods, which always remain under the control of the exporter. B. time draft It is also known as National Income (Y). B. The logs are particularly useful for debugging problems and monitoring cluster activity. The automatic machine has an estimated useful life of five years and no significant residual value. As a receipt, the bill of lading indicates that the carrier: d) They are responsible for storage and transportation of a product they sell. On May 4 of the current year, a proposal was made to replace the present manufacturing procedure with a fully automatic machine that has a purchase price of $180,000.

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