Concepts and explanation
International business includes trade and investment across borders. It offers wider markets and inputs but adds foreign-exchange, logistics, political, regulatory, cultural and payment risks. Export planning includes market research, product specifications, pricing, documentation, customs and payment terms; import processes include purchase, finance, shipment and clearance. Check current official trade guidance for live requirements.
Business example
An exporter should agree product specifications, delivery responsibilities, inspection, insurance and payment terms before dispatch.
Case-based practice
- An overseas buyer requests open-account payment and a customised product. Identify information and safeguards the exporter should assess before accepting the order.
- Write a short answer that names the relevant concept and applies it to the facts.
Quick revision
Revision cue: Define the term, distinguish it from a related concept and support the answer with a relevant example.