BUS 151 Lecture Notes - Lecture 3: Williams International, Negotiable Instrument, Marketing Mix
9 May 2020
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High context culture what is said and how and where is significant. Low context culture what is said is more important that how or where it is said. Focus on one thing at a time. Exw (ex works): for goods at point of origin. Fas (free alongside ship): for goods delivered along side ship. Fob (free on board): for goods on board vessel. C&f (cost and freight): for goods at overseas port. Cif (cost, insurance, freight) for goods at point of debarkation. Cpt (carriage paid to) for goods at land distribution center. Cip (carriage & insurance paid to) for goods at point of debarkation from land distribution center. Open account payment for goods at future date. Draft or bill of exchange negotiable instrument: sight payable upon presentation, time payable within a specific period, date payable on specific future date. Forfating seller paid by bank, not buyer.
