Chapter 16

Question 1

What would be included on a “best prospects” list supplied by the US Department of Commerce?

Answer 1

Name of potential distributor in a foreign market

Products sold by potential distributors in a foreign market

Question 2

The Service Corps of Retired Executives is an organization within the

Answer 2

Small Business Administration

Question 3

This consists of trade attorneys who provide advice on matters involving exporting

Answer 3

The export legal assistance network

Question 4

A confirming house is sometimes referred to as a

Answer 4

Buying agent

Question 5

These represent foreign companies that want to buy your products. Typically, that try to get the products they want at the lowest prices and are paid a commission by their foreign clients.

Answer 5

Confirming houses, aka buying agents

Question 6

When one firm distributes another firm’s products because it does not carry that particular product, it is using _______

Answer 6

Piggyback marketing

Question 7

Which organization oversees volunteers who have international trade experience and who use this experience to provide one-on-one counseling to active and new export businesses?

Answer 7

Service corps of retired executives

Question 8

The bill of lading acts as (3)

Answer 8

A contract
A document of title
A receipt

Question 9

A letter of credit is requested by the ____ from a bank

Answer 9

Importer

Question 10

Three forms of countertrade

Answer 10

Barter
Buyback
Counterpurchase

Question 11

This type of agreement involves taking a percentage of a company’s output as partial payment

Answer 11

Buyback

Question 12

They are mainly in business to orchestrate transportation for companies that are shipping internationally. Their primary task is to combine smaller shipments into a single large shipment to minimize the shipping cost

Answer 12

Freight forwarders

Question 13

This offers services to companies that have not previously exported products. They offer a full menu of services to handle all aspects of exporting

Answer 13

An export management company (EMC)

Question 14

This occurs when a firm agrees to purchase goods from any firm in a country where a sale has been made with a percentage of the proceeds from an original sale

Answer 14

An offset

Question 15

Two sources of assistance to US exporters to finance their export programs

Answer 15

Export-Import Bank

Foreign Credit Insurance Association