international trade Archives - Free ZIMSEC & Cambridge Revision Notes

Letter of Credit

By garikaib|2022-09-15T12:42:26+02:00July 27th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Procedure for issuing a letter of credit. Image credit letterofcredit.biz

Procedure for issuing a letter of credit. Image credit letterofcredit.biz ZIMSEC O Level Commerce Notes: Credit Letter

Letter of credit

a letter issued by a bank to another bank (especially one in a different country) to serve as a guarantee for payments made […]
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Functions of the Zimbabwe International Trade Fair ( ZITF)and Export Processing Zones Authority (EPZA)

By garikaib|2022-09-15T12:42:27+02:00July 27th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZITF exhibition. Image credit radiodialogue.com

ZITF exhibition. Image credit radiodialogue.com ZIMSEC O Level Commerce Notes: Functions of the Zimbabwe International Trade Fair ( ZITF)and Export Processing Zones Authority (EPZA)

Functions of the Zimbabwe International Trade Fair ( ZITF)

The fair is advertised extensively both locally and internationally.
Facilitates trade between Zimbabwean and Foreign companies.
Enables local and […]
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Bills of exchange

By garikaib|2022-09-15T12:42:28+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

A bill of exchange. Image credit delcampe.net

A bill of exchange. Image credit delcampe.net ZIMSEC O Level Commerce Notes: Bill of exchange

Bill of exchange

The Bill of Exchange Act defines the bill of exchange as:
An unonditional order in writing, addressed by one person to another, singed by the person giving […]
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Cable (telegraphic) money transfer

By garikaib|2022-09-15T12:42:29+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit kanooncurrency.co.uk

Image credit kanooncurrency.co.uk ZIMSEC O Level Commerce Notes: Cable (telegraphic) money transfer

A method of sending and receiving payments.
Payments are made using telegraph,cable or telephone.
Payment is made in foreign currency.
Money is transferred from the debtor’s (importer’s) account to the creditor’s (exporter’s) account.
A safe and fast way of making payments.
Money […]
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Airway bill

By garikaib|2022-09-15T12:42:29+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

An Air Waybill for use with FedEx

An Air Waybill for use with FedEx ZIMSEC O Level Commerce Notes: International Trade: Airway bill

Airway bill

Also mentioned here.
Completed when goods are carried by air.
A contract to carry goods aboard an aircraft.
An evidence of receipt of goods on board the aeroplane.
Gooes together with […]
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Certificate of insurance

By garikaib|2022-09-15T12:42:30+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit generalmills.com

Image credit generalmills.com ZIMSEC O Level Commerce Notes: Certificate of insurance

Certificate of insurance

Provides proof that the goods being transported have been insured.
Has to be produced when making a claim to the insurance company, if a risk insured against has occurred.
Can be an open (floating) insurance policy.
To cove […]
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Certificate of origin

By garikaib|2022-09-15T12:42:30+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit kkfreight.com

Image credit kkfreight.com ZIMSEC O Level Commerce Notes: Certificate of Origin

Certificate of origin

Specifies the name of the country which goods being exported have been manufactured e.g. Made in China.
Required for the assessment of amount of duty to be charged on imports from the country of origin.
Required when customs […]
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Consular invoice

By garikaib|2022-09-15T12:42:31+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit jaicourtney.net

Image credit jaicourtney.net ZIMSEC O Level Commerce Notes: Consular invoice

Consular invoice

Assist customs officials to calculate customs duty where duty is charged on the value of imported goods.
Signed by a consul of the importing country certifying and confirming that the prices of the goods are correct:
prices of the […]
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Export invoice

By garikaib|2022-09-15T12:42:31+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit DHL.

Image credit DHL. ZIMSEC O Level Commerce Notes: Export Invoice

Export invoices

Prepared from various invoices for goods purchased and expenses incurred (on transportation and warehousing of goods)
Summarises the goods bought and expenses incurred.
Copies of the original invoices received from suppliers of goods and services are attached to the […]
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Indent document

By garikaib|2022-09-15T12:42:32+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit gotomyies.com

Image credit gotomyies.com ZIMSEC O Level Commerce Notes: Indent document

Indent

An order to buy goods abroad.
Sent by an importer (principal) to an agent overseas.
Gives details of:
types, quantities and prices of goods required.
How the goods are to be forwarded.
Marking or numbers on crates […]
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July 2015

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