C. 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. Which of the following is a successful exporting strategy used by 3M? Buyback, A(n) _____ occurs when a firm supplies technology, equipment, training, or other services in a country and agrees to take a certain percentage of the resultant output as partial payment for the contract. On average, the import-export agent annual salary is $47,326 per year, which translates to $22.75 an hour. C. Which of the following is a document used to give the title of the products to a bank? A. Product and field research 6. A. ASEAN countries A. Such agreements are aimed at stimulating trade and supporting economic growth for both countries involved. 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. A. However, an agent does not take title to the goods and provides fewer services than a distributor does. A. They rarely offer warehousing facilities. has obtained the merchandise described on the face of the document. The peer service is added as an attribute to a span whose host or IP address match the mapping. recover for the environmental damage. Please upgrade today! trade fair. \begin{array}{lc} importer's bank sends the draft and bill of lading to the exporter's bank. B. Interestingly enough, warehouse assistants earn the most pay in the transportation industry, where they command an average salary of $36,486. According to resumes from both import-export agents and transportation brokers, some of the skills necessary to complete the responsibilities of each role are similar. Countertrade The inflow and outflow of goods and services from one country to the rest of the world. To initiate a manual export, take these steps: Navigate to Admin in the top menu bar. receiving a cleared payment through bank. most attractive to small, primarily domestic enterprises. Some companies may employ an agent for very specific tasks such as undertaking marketing research or handling the export administration and logistics only. However, an agent does not take title to the goods and provides fewer services than a distributor does. If you represent the seller, you have an obligation to sell that company's products at the highest possible price. Counterpurchase D. Exporters often face voluminous paperwork and complex formalities. For example, gathering from import-export agents resumes, they are more likely to have skills like "data entry," "booking," "export," and "import export." drawee As is the case with most jobs, it takes work to become an import-export agent. C. C. 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. 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. Which of the following is a reason that firms take a reactive approach to exporting rather than a proactive approach? B. B. D. It helps companies increase their unit costs. Counterpurchase 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. The file exported from Nessus Manager contains the following data: The name of the agent. Warehouse assistants oversee a warehouse's stocks and products. Show transcribed image text Expert Answer 100% (1 rating) Answer Option 3 is correct. A. 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. The key is to develop a sound relationship with your connection and continually work toward increasing sales and improving the relationship.
\nRepresenting clients and getting commissions
\nThe 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.
\nIf you bring a buyer from one country together with a seller from another country, can you earn a commission from both parties? Countertrade occurs when goods and services are traded for other goods and services. GDP = C + I + G + X - M Where: C = Consumer expenditure I = Investment expenditure G = Government expenditure X = Total exports M = Total imports Net Exports An import or export agent acts as a middle person for the purchase or sale of products between both domestic and overseas companies. Why? B. Financing is difficult when engaging in a countertrade. AppDynamics Ansible Collection. D. Imports lead to an outflow of funds from the country since import transactions involve payments to sellers residing in another country. _____ is a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters. This is a unique website which will require a more modern browser to work! A. Offset They're 1.4% less likely to obtain a Master's Degree while being 0.0% more likely to earn a Doctoral Degree. 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. An export agent is a firm (or individual) that undertakes most of the exporting activities on behalf of an exporter usually for a commission. B. provides finance to facilitate trade between United States and other countries. When it comes to education, warehouse assistants tend to earn similar education levels than import-export agents. Countertrading bill of lading Which of the following is a major advantage of using a letter of credit? Of recent, Expeditors had 39 positions open for import-export agents. B. against commercial risks and political risks faced by exporters. \end{array} \\ For reports that allow you to specify them, enter a Begin date and End date . B. Obviously, drawing a commission from both parties would create an ethical dilemma. Handled all facets of work associated with incoming customer cargo calls, including booking, tracking and tracing cargo. Why or why not? For this reason, mining is commonly a key industry in such countries. Only the specified Agent Data Groups are included in the output file. For the most part, brokers work for sellers, although some brokers do represent buyers. Importers usually issue a _____ to importers in international transactions. However, as the quality of U.S. vintages improved and became acknowledged in the marketplace, sales by U.S. wineries not only reduced imports of foreign wines but also began to develop a sizable export business as many European consumers began buying wines produced in the States. Another method of increasing exports and decreasing imports is by devaluing the domestic currency. Japan's great trading houses are called _____. 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. Because as an agent, you're representing someone. Which of the following statements is true of export credit insurance? Individuals You'd identify sellers of that product overseas and represent the buyer in foreign markets as the import agent.
\n \nBrokers: A broker is an independent agent who brings buyers and sellers together. Export selling does not modify the product pricing or promotional material to mee. is a sight draft that can be used as a negotiable instrument in banks. Barter The names of any groups the agent belongs to. matchmaker. A. is obligated to provide a transportation service in return for a certain charge. 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. Their primary responsibilities include receiving and sending products from the warehouse. A. B) Most EMCs in the United States are large, representing a wide range of products and large number of companies. E. To combine export shipments within single containers. 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). The IPv4 or IPv6 address of the agent.
","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. 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.
\nAn agent
\n- \n
Is independently owned
\n \n Does not take title to the products being purchased and sold
\n \n Is actively involved in the negotiations for either the sale or purchase of the products
\n \n
Understanding types of agents
\nThe import/export business has two main types of agents:
\n- \n
Traditional import/export agents: An export agent works in the country where the product is produced. Countertrade contracts often involve high-quality, expensive goods that the firm cannot move enough of to be profitable. \text { Power and maintenance } & 5,000 & 18,000 \\ The automatic machine has an estimated useful life of five years and no significant residual value. is payable to the drawee immediately on presentation in a bank. Train fellow employees on specialized accounts. They are taken into account as "Net Exports". Just by understanding these different skills you can see how different these careers are. The original cost of the machine is $60,000, the accumulated depreciation is$24,000, its remaining useful life is five years, and its residual value is negligible. C. Which of the following is a nationwide group of international trade attorneys who provide free initial consultations to miniature businesses on export-related matters? A. B. Countertrade is a conventional means to pay exporters. Imposing tariffs is one way a country can work to improve its balance of trade. But a freight broker might use skills, such as, "tms," "logistics," "ftl," and "shippers.". B. A _____ is issued to the exporter by the common carrier transporting the merchandise. 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. 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. See 10+ resume templates and create your resume here. These similarities include skills such as "customer service," "dhl," and "hazardous materials," but they differ when it comes to other required skills. Performed material handling and inventory functions for customer shipments. D. D. \text { Present } \\ D. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. , or offline. Domestic borrowers Which of the following is a major drawback of engaging in countertrade? bill of lading \end{array} Robinson, the average import-export agent salary is $52,549. Fines for export violations, including anti-boycott violations, can reach up to $1,000,000 per violation in criminal cases, and $250,000 per violation in most administrative cases. D. The exporter cannot avail pre-export financing when using a L/C. C. B. A good example of quality perception affecting imports/exports can be drawn from the wine industry. Because as an agent, you're representing someone. The broker identifies Singapore Electronics, a potential customer in Singapore, for these items. Select one alternative: O Strategic alliance Joint venture o Greenfield investment O Franchising O Contract manufacturing. \text { Direct labor } & 51,000 & - \\ Explain your reasoning. It does not involve the physical handling and distribution of goods. sight draft C. This helps bring down the price of domestic goods and services, hopefully, encouraging consumers to buy domestic rather than imported goods. For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. 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. 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. A. counterpurchase A. Governments decrease excessive import activity by imposing tariffs and quotas on imports. C. letter of credit \text { Direct materials } & \$ 72,000 & \$ 72,000 \\ C. Prepare documentation as master BOL, shippers export declarations, cargo release, pickups, delivery orders and others. B. These agents must possess a variety of export documentation to facilitate domestic and international shipments of products to ensure timely delivery. If you represent the seller, you have an obligation to sell that company's products at the highest possible price. An import-export agent responsibility is more likely to require skills like "data entry," "export," "international shipments," and "air freight." is a time draft that has been drawn on and accepted by a bank. Most firms already know where the market potential and opportunities are and they do not need to be proactive. D. D. provides a written promise of payment before releasing the merchandise. Governments do not provide much assistance to exporters. Barter 40) Which of the following is typically true of an export management company?A) It is usually a division of a manufacturing company. A. These skills include "customer service," "third-party logistics," and "as400. export management company, As a document of title, a _____ can be used to obtain payment or a written promise of payment before the merchandise is released to the importer. C. 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. B. Once you've obtained the level of education you're comfortable with, you might start applying to companies to become an import-export agent. They create excess productive capacity and actively hunt for opportunities in foreign markets. 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.
\n \n
Looking at the benefits and challenges of being an agent
\nSome of the benefits of the agent option are the reduced start-up costs and the limited working capital you need. most attractive to large, diverse multinational enterprises. Import or export agents must also prepare documents while informing import agents about the details of shipment arrivals. A. offsets Trade agreements typically focus on the exchange of different types of products. A. A. Exporting goods and Hazardous material, Schedule and book urgent airfreight shipments through World Port. Review and analyze standard operating procedures to insure compliance, TSA, ISO, TAPA, IMDG. In essence the export agent becomes the exporters export department. Obviously, drawing a commission from both parties would create an ethical dilemma. Whereas at PrincePerelson & Associates, import-export agents earn roughly $48,824. This is useful when you want to run agents with outer orchestration, such as Azure Container Instances. A. _____ are export specialists that act as the export marketing department or international department for their client firms. B. Most modern applications have some kind of logging mechanism. against political risks faced by importers. They consider exporting only after their domestic market is saturated. Switch trading, _____ is viewed as the most restrictive countertrade arrangement and is primarily used for one-time-only deals in transactions with trading partners who are not creditworthy or trustworthy. A. time draft Use This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This TemplateUse This Template. 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. D. You remain responsible for shipping and other trade-related logistics - although your agent should be able to help. Service reservations and answer questions pertaining to air cost, documentation, flight policies and procedures. Choose 2 options. A. List of Excel Shortcuts An importer obtains a _____ from a local bank in a typical international transaction. indemnify Lockheed for pre-closing environmental conditions. Their contract stated that the buyer assumed only C. 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. This is a one-time deal, because as soon as the goods are purchased, they'll no longer be available. managed by governments that provide export subsidies. Exporting leads to diseconomies of scope. C. Matchmaking All of these tasks, the export will do on the exporters behalf. B. Exports lead to an inflow of funds to the sellers country since export transactions involve selling domestic goods and services to foreign buyers. B. draft, _____ can be used when a government restricts the convertibility of its currency to preserve its foreign exchange reserves so they can be used to service international debt commitments and purchase crucial imports. offset It is also known as National Income (Y). is the same as a letter of credit. to insure that products are delivered that have already been paid for. C. The tariffs make importing goods and services more expensive than purchasing them domestically. not-for-profit organizations that provide free service. In fact, our research shows that one out of every five import-export agents were not college graduates. receives payment from a third-party such as a bank or trading house. A. Countertrade is: explains the conditions of a contract. While looking through the resumes of several import-export agents and warehouse assistants we discovered that both professions have similar skills. For the most part, brokers work for sellers, although some brokers do represent buyers. 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. B. The agent's role is to get orders and (usually) earn a commission for his services. On the other hand, if you're representing the buyer, you have an obligation to secure the products for the buyer at the lowest possible price. D. 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. Estimate the cost of carpeting for each room. \hline \text { Sales } & \$ 205,000 & \$ 205,000 \\ The sourcing decision is one of the most complex and important decisions faced by a global company. B. The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor. Ensured accuracy of direct mail processing and preparation operations in accordance with DHL requirements, customer requests, and established procedures. By enabling domestic producers to produce goods less expensively and, thus, lower their prices, subsidies may also increase exports as the cheaper goods become more attractive to foreign buyers. A common pitfall of exporting is a poor understanding of competitive conditions in the foreign market. 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. European Union ","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. C. Buyback, In the modern era, the concept of countertrade arose as a way for the _____ to purchase imports. Processed overnight international shipments for various accounts. Export selling is early entry mode and less engaged compared with export marketing. The agent's role is to get orders and (usually) earn a commission for his services. It is not attractive to small organizations. Employees in both import-export agents and freight forwarders positions are skilled in customer service, booking, and import export. Freight brokers have licensed property brokers who provide assistance to shippers in hauling materials. bank statement. Exporting unsealed management packs Setting a windows computer into maintenance mode Retrieve the maintenance mode history for a windows computer Enable the proxy for all SCOM agents Retrieve all SCOM agents that are grayed out or unavailable Retrieve all the SCOM alerts within the last day (highest priority first) If you're interested in companies where import-export agents make the most money, you'll want to apply for positions at C.H. ","slug":"what-is-an-importexport-agent","canonicalUrl":"","seo":{"metaDescription":"An agent is similar to a distributor in that he's a middleman. D. D. MITI Answer phones, giving different customers quotes on what there shipment would cost if they move with DHL. B. B. Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition. Bill of lading Floating exchange system We found that 49.5% of import-export agents have graduated with a bachelor's degree and 5.2% of people in this position have earned their master's degrees. 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. Instead, she's traditionally hired to bring together one-of-a-kind or nonrecurring deals.
\nFor example, a broker is contacted and advised that Company A in New York has an excess inventory of a soon-to-be-discontinued product. B. 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. They are intimidated by the complexities and mechanics of exporting to countries where business practices, language, culture, legal systems, and currency are very different from the home market. 2003-2023 Chegg Inc. All rights reserved. In general, freight brokers study at similar levels of education than import-export agents. B. Take inbound and outbound telephone calls, Utilize computer software i.e. Analyze data for proper processing of time sensitive live customs entries. Countertrade reduces the profitability of competing firms and is considered an unethical practice. However, an agent does not take title to the goods and provides fewer services than a distributor does. It guarantees the importer extra funds for other purposes. B. Coordinated all aspects of air/ocean freight, abiding by export customs regulations and demonstrating knowledge in a team-oriented, deadline-driven environment. It provides exporters and opportunity to obtain direct revenue. Counterpurchase filed a suit against Glencore to recover costs related to the settlement. Countertrade may involve the exchange of unusable goods. Exporter will require more insurance if a letter of credit is used in transactions. Instead, she's traditionally hired to bring together one-of-a-kind or nonrecurring deals. The status of the agent at the time of export. Master's Degree Human Resources Management. C. Countertrade requires employing lawyers who specialize in these unique types of contracts. buyback C. A. Handle all facets of work associate with incoming customer cargo calls, including booking, tracking and tracing cargo. A broker differs from the traditional import/export agent in that she doesn't usually represent a company. D. To earn the highest possible profits in foreign countries. Fixed exchange system, _____ denotes a whole range of barter-like agreements and its principle is to trade goods and services for other goods and services when they cannot be traded for money. Growth opportunities are often limited in global markets. B. The commercial invoice is one of the main documents used by customs in determining customs duties.
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