Which of the following is an advantage of exporting?
It provides large revenue and profit opportunities.
In international commerce, a draft is sometimes referred to as a _____.
bill of exchange
Which of the following is a distinct type of countertrade arrangement?
Barter
_____ refers to an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent.
Countertrade
Large firms generally tend to be _____ about seeking opportunities for profitable exporting.
proactive
Through its _____ program, the Small Business Administration oversees almost 11,500 volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses.
Service Corps of Retired Executives
When a time draft is presented to a drawee, he or she signifies acceptance of it by:
writing or stamping a notice of acceptance on its face.
Which of the following is a way in which the U.S. Department of Commerce helps potential exporters?
It assembles a "comparison shopping service" for 14 countries that are major markets for U.S. exports.
The Foreign Credit Insurance Association (FCIA) is an association of private commercial institutions operating under the guidance of the _____.
Export-Import Bank
Which of the following is true of the International Trade Administration and the U.S. Commercial Service?
They are organizations within the U.S. Department of Commerce.
In the United States, export credit insurance is provided by _____, an association of private commercial institutions.
Foreign Credit Insurance Association
The U.S. Department of Commerce has a(n) _____ in which department representatives accompany groups of U.S. businesspeople abroad to meet with qualified agents, distributors, and customers.
matchmaker program
The most comprehensive source of information on export opportunities for U.S. firms is the _____.
Department of Commerce
When a time draft is presented to a drawee, he or she signifies acceptance of it by:
writing or stamping a notice of acceptance on its face.
Which of the following is an advantage of countertrade?
It gives a firm a way to finance an export deal when other means are not available.
Countertrade is most likely to be used when:
the conventional means of international trade transaction are difficult.
A(n) _____ refers to a buying agreement similar to counterpurchase, but the exporting country can then fulfill the agreement with any firm in the country to which the sale is being made.
offset
Which of the following is the first step in a typical international trade transaction?
The importer places an order with the exporter and asks the exporter if he would be willing to ship under a letter of credit.
In terms of using a third party in international trade, title to the products is given to a bank by the exporter in the form of a document known as a _____.
bill of lading
The two categories of drafts (or bills of exchange) are:
sight drafts and time drafts.
A lack of trust between two parties engaged in international trade is exacerbated by the:
problems of using an underdeveloped international legal system to enforce contractual obligations.
Which of the following is true of exporting?
Many foreign customers require face-to-face negotiations on their home turf.
The _____ refers to a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters.
Export Legal Assistance Network
Once accepted by the drawee, a time draft becomes a(n):
promise to pay by the accepting party.
A range of barterlike agreements by which goods and services are traded for other goods and services when they cannot be traded for money is known as _____.
countertrade
A(n) _____ refers to an export specialist that acts as an export marketing department for client firms.
export management company