SCLT 2362 Lecture Notes - Lecture 1: Commercial Invoice, Common Carrier, Open Skies
12 Aug 2015
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Document Summary
Chapter 14 questions 1-20: a key political restriction on cross-border trade is transporting materials that could be used as a weapon. Also the larger the market size the more wealth the country has to put towards participating in international activities. United states is a fairly large country we are mainly dominant in most international trades. A commercial invoice is also a document used in international trade and is mainly used to calculate the tariffs involved in the trades. They have different terms for different methods of transportation such as sea and inland waterway: the four methods of payment in international trade are open account, documentary collections, letters of credit, or cash-in-advance. The most risky method for a buyer is cash-in-advance because if they already pay before receiving the product it could be a misrepresentation or any conflict. They are experienced at keeping track of carrier space so they have more representation than a regular shipper.
