Question and answer
Evaluated and explained the legal aspects of contracting internationally.
There are two basic issues to consider when getting started in import/export: (1) business structure and (2) business contacts. [ Business structure generally refers to and is tremendously determined by your role in the importing and exporting of goods. In the simplest terms and for our purposes, the four major players are defined below: Importer - person or entity that brings in foreign goods or services into the country for its own use, but more often for resale. Exporter - person or entity that sells their own goods or services to foreign buyers. Import/Export Merchant -
person or entity who buys goods or services from one country for the purposes of resale in another country. Import/Export Management Company (IEMC)- essentially a person or entity that serves as the middleman in deals between importers and exporters. The person or entity may serve as an import management company (IMC) by setting up deals between domestic businesses and foreign suppliers. Alternatively, the person or entity may serve as an export management company (EMC) by setting up deals between domestic suppliers and foreign buyers. Finally, this person or entity may serve as an import/export management company (IEMC) by setting up deals in both directions. Of the four structures/roles listed above, the IEMC offers advantages particularly for the small business or solo player since there is little need to spend huge amounts of capital to purchase goods first, and then to tie up the capital waiting to sell these goods. The IEMC functions exclusively as the middleman in deal negotiations and profits only when a deal is closed. In this respect, the IEMC must be knowledgeable about trade, good at negotiators, and have an extensive contact list. Once the business structure is determined, the second basic consideration is business contacts, which is especially important for IEMC's and others just starting out in this field. There are four major and preliminary contacts to be established by the IEMC ]
s
Expert answered|selymi|Points 7522|
Question
Asked 2/27/2012 2:51:15 PM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
lemon clause
Weegy: Lemon Laws were enacted to protect consumers from products that are plagued with serious defects. [ If an item cannot be satisfactorily repaired within a certain timeframe — usually within the warranty period - or if the item is not as good as new after so many repairs, it is considered a "lemon." Consumers who find themselves stuck with lemons can find redress through lemon laws. Each state has its own version of these laws and requires consumers to take certain actions in order to remedy the situation. ] (More)
Question
Expert Answered
Asked 2/29/2012 4:25:37 PM
0 Answers/Comments
34,201,625
questions answered
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
Popular Conversations
Earthquakes can only occur at a fault if the fault experiences ...
Weegy: The area in a fault where stress builds up is called the hypocentre zone.
7/27/2021 3:42:44 AM| 5 Answers
The _______ biome has trees that lose leaves once each year. The ...
Weegy: Intertidal zone is where the ocean meets the land.
7/30/2021 11:46:25 PM| 5 Answers
The Zero law Means
7/21/2021 2:04:29 AM| 3 Answers
How many cities are in pennsylvania
7/22/2021 5:04:58 PM| 3 Answers
What’s 2 plus 7
Weegy: 2 + 2 is 4. User: That’s 2 + 8 Weegy: Hi, how can help you? User: What’s 2 + 8 Weegy: 2 * 2 = 4 User: ...
7/22/2021 7:30:18 PM| 3 Answers
The Eighteenth Amendment, "Prohibition," was reversed by the
Weegy: The Eighteenth Amendment, "Prohibition," was reversed by the Twenty-first Amendment. User: Controls given ...
7/26/2021 8:15:46 AM| 3 Answers
NIMS is applicable to all stakeholders with incident related ...
Weegy: NIMS is applicable to all stakeholders with incident related responsibilities. TRUE. User: The _________ is ...
7/27/2021 4:06:34 PM| 3 Answers
S
L
P
R
P
R
Points 1182 [Total 3866] Ratings 3 Comments 1032 Invitations 12 Offline
S
L
Points 930 [Total 1641] Ratings 2 Comments 910 Invitations 0 Offline
S
L
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
P
1
L
Points 844 [Total 5405] Ratings 30 Comments 544 Invitations 0 Offline
S
L
P
P
Points 622 [Total 3565] Ratings 0 Comments 622 Invitations 0 Offline
S
L
Points 473 [Total 474] Ratings 0 Comments 473 Invitations 0 Offline
S
L
P
P
L
P
Points 277 [Total 7205] Ratings 1 Comments 267 Invitations 0 Offline
S
L
L
P
Points 258 [Total 5669] Ratings 1 Comments 248 Invitations 0 Offline
S
L
R
Points 254 [Total 745] Ratings 14 Comments 104 Invitations 1 Offline
S
L
Points 233 [Total 523] Ratings 0 Comments 233 Invitations 0 Offline
S
L
1
1
1
1
1
Points 141 [Total 2082] Ratings 14 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.