Get premium membership and access questions with answers, video lessons as well as revision papers.
Cash in advance clearly is risk-free except for consequences associated with the
potential non-delivery of the goods by the seller. Cash in advance is usually a wire
transfer or a check. Although an international wire transfer is more costly (from
US$15 to more than US$100), it is often preferred because it is speedy and does not
bear the danger of the check not being honored. The check can be at a
disadvantage if the exchange rate has changed significantly by the time it arrives,
clears and is credited. On the other hand, the check can make it easier to shop for a
better exchange rate between different financial institutions.
For wire transfers the seller must provide clear routing instructions in writing to the
buyer or the buyer's agent. These include:
- The full name, address, telephone, and telex of the seller's bank
- The bank's Society for Worldwide Interbank Financial Telecommunications
(SWIFT) and/or ABA numbers
- The seller's full name, address, telephone, type of bank account, and account
number.
Titany answered the question on November 25, 2021 at 11:17
- List the common payment methods for international sourcing(Solved)
List the common payment methods for international sourcing
Date posted: November 25, 2021. Answers (1)
- List Six International Sourcing Costs(Solved)
List Six International Sourcing Costs
Date posted: November 25, 2021. Answers (1)
- Briefly describe early supplier involvement (ESI)(Solved)
Briefly describe early supplier involvement (ESI)
Date posted: November 25, 2021. Answers (1)
- Describe two techniques used in vendor rating stating their advantages and disadvantages (Solved)
Describe two techniques used in vendor rating stating their advantages and disadvantages
Date posted: November 25, 2021. Answers (1)
- What is Vendor Rating?(Solved)
What is Vendor Rating?
Date posted: November 25, 2021. Answers (1)
- Techniques used in supplier appraisal(Solved)
Techniques used in supplier appraisal
Date posted: November 25, 2021. Answers (1)
- Define the term supplier appraisal
(Solved)
Define the term supplier appraisal
Date posted: November 25, 2021. Answers (1)
- List two supplier assessment methods(Solved)
List two supplier assessment methods
Date posted: November 25, 2021. Answers (1)
- Discuss five supplier sourcing policies (Solved)
Discuss five supplier sourcing policies
Date posted: November 25, 2021. Answers (1)
- Differentiate between single and multiple sourcing in a business environment(Solved)
Differentiate between single and multiple sourcing in a business environment
Date posted: November 25, 2021. Answers (1)
- Ways of expressing procurement relationship(Solved)
Ways of expressing procurement relationship
Date posted: November 24, 2021. Answers (1)
- Write short notes on checklist for supplier visit(Solved)
Write short notes on checklist for supplier visit
Date posted: November 24, 2021. Answers (1)
- Factors affecting the selection of a supplier(Solved)
Factors affecting the selection of a supplier
Date posted: November 24, 2021. Answers (1)
- Ways of locating oversees suppliers(Solved)
Ways of locating oversees suppliers
Date posted: November 24, 2021. Answers (1)
- Sources of information about overseas suppliers(Solved)
Sources of information about overseas suppliers
Date posted: November 24, 2021. Answers (1)
- Levels of offshore sourcing according to Trent and Monczka (2005)(Solved)
Levels of offshore sourcing according to Trent and Monczka (2005)
Date posted: November 24, 2021. Answers (1)
- Benefits of international/global sourcing(Solved)
Benefits of international/global sourcing
Date posted: November 24, 2021. Answers (1)
- Factors Concerned With Increased Risk Exposure(Solved)
Factors Concerned With Increased Risk Exposure
Date posted: November 24, 2021. Answers (1)
- Risks of international buying
(Solved)
Risks of international buying
Date posted: November 24, 2021. Answers (1)
- Reasons for international sourcing
(Solved)
Reasons for international sourcing
Date posted: November 24, 2021. Answers (1)