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Trade Agreements like NAFTA and the EU have increased the opportunity for…
Countries to Export.
MITI
Japan’s Ministry of International Trade and Industry.
sogo shosha
Japanese trading companies; a key part of the
keiretsu, the large Japanese industrial groups.
export management company (EMC)
Export specialist that acts as an export marketing department for client firms.
bill of exchange
An order written by an exporter instructing an
importer, or an importer’s agent, to pay a specified amount of money at a specified time.
draft
An order written by an exporter telling an
importer what and when to pay.
sight draft
sight draft
A draft payable on presentation to the drawee.
time draft
A promise to pay by the accepting party at some
future date.
bill of lading
A document issued to an exporter by a common
carrier transporting merchandise. It serves as a
receipt, a contract, and a document of title.
The Export-Import Bank (EXIM Bank) of the
United States
Agency of the U.S. government whose mission
is to provide aid in financing and facilitate
exports and imports.
countertrade
The trade of goods and services for other goods
and services.
barter
The direct exchange of goods or services
between two parties without a cash
transaction.
counter purchase
A reciprocal buying agreement.
offset
Agreement to purchase goods and services with
a specified percentage of proceeds from an
original sale in that country from any
firm in the country.
switch trading
Use of a specialized third party trading house in a
countertrade arrangement.
buyback
Agreement to accept a percentage of a plant’s
output as payment for contract to
build a plant.
is a financial document issued by a bank or financial institution that guarantees payment to an exporter (seller) on behalf of an importer (buyer), provided that the exporter meets specific terms and conditions outlined in the letter.
Letter of Credit (LC)
