international trade

Zafana Trade brokers. Image credit zafanankositrading.com ZIMSEC O Level Commerce Notes: Brokers

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 […]
  

image credit uthmag.com ZIMSEC O Level Commerce Notes: International trade: Del Credere Agents

Del credere agents.

• Del credere is Italian for “to trust”
• Possess the goods they sell.
• Have insurable interest on the goods in their possession
• Sell goods on behalf of their principals.
• Sell goods in their own names.
• Deliver goods to […]
  

image credit destinyman.com ZIMSEC O Level Commerce Notes: International trade:Forwarding Agents/Freight Forwarders

Forwarding agents also known as Freight forwarders.

• Collect goods from consignors’ premises.
• Carry goods to their warehouses.
• Warehouse/Store the goods.
• Send goods to consignee.
• Provide facilities for export packing.
• Arrange insurance for the goods.
• Fill in the necessary documents used when goods are transported by […]
  

Image credit importingmadeasy.com ZIMSEC O Level Commerce Notes: International trade:Export and Import merchants

Export merchants

• Perform the functions of traders (i.e. wholesalers or retailers).
• Buy goods from local manufacturers.
• Sell these goods abroad.
• Buy and sell goods in their own names.
• Sell goods at a profit.
• Pay cash immediately for goods bought.
• Reduce manufactures’ problems by exporting […]
  

An import licence. govt.nz ZIMSEC O Level Commerce Notes: Other documents in international trade

Import licence

• An approval of goods to enter a country.
• Issued by the importing country.
• Enables the importer to obtain foreign currency to pay for the imports.

Customs specification and entry

• Exporting country requires customs specifications.
• Importing country requires […]