February 2025

Bonded warehouses and International Trade

By |2025-02-12T09:29:37+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMRA's bonded warehouse at Chirundu Border Post. Image credit zimboguide.co.zw ZIMRA’s bonded warehouse at Chirundu Border Post. Image credit zimboguide.co.zw ZIMSEC O Level Commerce Notes: Bonded warehouses and International Trade

Why customs authorities control bonded warehouses

  • Bonded warehouses are used to store […]
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Functions of the Zimbabwe International Trade Fair ( ZITF)and Export Processing Zones Authority (EPZA)

By |2025-02-12T09:45:01+02:00February 12th, 2025|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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Excise Duty and the calculation of duty

By |2025-02-12T09:30:00+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit sofiaecho.com Image credit sofiaecho.com ZIMSEC O Level Commerce Notes: Excise Duty

Why excise duty is paid?

  • Excise duty is taxed on certain specified home produced goods for example tobacco meant for consumption in the home market in order to:
  • Raise revenue for the government.
  • Discourage consumption of dangerous products.
  • Reduce domestic demand.
  • Release more […]
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Brokers in International trade

By |2025-02-12T09:31:16+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Zafana Trade brokers. Image credit zafanankositrading.com 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 […]
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Factor agents in international trade

By |2025-02-12T09:32:27+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit wordpress.com Image credit wordpress.com ZIMSEC O Level Commerce Notes: International trade: Factors

  • is a mercantile fiduciary who receives and sells goods on commission.
  • The commission is called a factorage.
  • Possess the goods they sell.
  • Sell goods in their own names.
  • Do not disclose their principal.
  • Collect goods for sale.
  • Deliver goods to their customers.
  • Have insurable […]
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Del Credere agents

By |2025-02-12T09:33:26+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

image credit uthmag.com 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 […]
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Bank Payments in Home and Internation Trade

By |2025-02-12T09:09:37+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit voanewszimbabwe.com Image credit voanewszimbabwe.com ZIMSEC O Level Commerce Notes: Money and Banking: Bank Payments in Home and Internation Trade

Bank payments in Home Trade

  • Payments encountered in home trade are made via the following bank services:

Standing or stop order

  • Is a method of payment used to pay fixed amounts to creditor […]
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Forwarding agents/Freight Forwarders

By |2025-02-12T09:34:19+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

image credit destinyman.com 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 […]
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