Brokers in International trade

Brokers

• Work in foreign trade as agents.
• Bring buyers and sellers into contact
• Buy or sell goods on behalf of their principals ( who can be manufacturers or importers)
• Do not possess the goods they sell but sell goods by sample or description.
• Do not deliver the goods they sell.
• Have no insurable interest on the goods they sell or buy.
• Receive brokerage as commission based on total value of sales.
• Do not enter into contract.

To access more topics go to the Commerce Notes page.