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Principles of Imports and Exports - Coggle Diagram
Principles of Imports and Exports
International Trade
Requires
Internationally accepted documents
Common issue
Poor document handling by inexperienced staff
Involves
Movement of goods
Import and export
Solution
Basic administrative training and attention to detail
International Contracts
Based on
Vienna Convention (1980)
Contract formation
Offer + Acceptance → Binding contract
A document that establishes the rights and obligations between importer and exporter
Open-Price Contracts
Price
Determined implicitly or tacitly
Common situations
Ongoing business relationships
Use of catalogues or brochures with prices
Contract Dispute Resolution
After exhausting amicable resolution
Arbitration
onciliation (non-binding)
Courts of law
Mediation (non-binding)
Offer and Acceptance
Offer
Must be specific (goods, quantity, price)
Addressed to a specific person
Can be withdrawn, revoked, or rejected
Acceptance
Effective when received by the offeror within the set deadline
International Economic and Financial System
Current trend
Global economic internationalization
Growth of financial markets and instruments
Objective
Economic and social welfare
Investment with high returns
Price Components Analysis
Price
Determined by
Determined by
Supply and demand (free market)
Fees (public services in regulated markets)