international trade Archives - Page 2 of 3 - Free ZIMSEC & Cambridge Revision Notes

Export and Import merchants

By garikaib|2022-09-15T12:42:33+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit importingmadeasy.com

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 […]
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Forwarding agents/Freight Forwarders

By garikaib|2022-09-15T12:42:33+02:00July 25th, 2015|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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Del Credere agents

By garikaib|2022-09-15T12:42:33+02:00July 25th, 2015|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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Factor agents in international trade

By garikaib|2022-09-15T12:42:34+02:00July 25th, 2015|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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Brokers in International trade

By garikaib|2022-09-15T12:42:34+02:00July 25th, 2015|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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Excise Duty and the calculation of duty

By garikaib|2022-09-15T12:42:35+02:00July 25th, 2015|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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Bonded warehouses and International Trade

By garikaib|2022-09-15T12:42:35+02:00July 25th, 2015|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

Bonded Warehouses are also looked at under the Warehousing Topic here.

Why customs authorities control bonded warehouses

Bonded warehouses are used to store […]
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Functions of customs and excise authorities

By garikaib|2022-09-15T12:42:36+02:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Chirundu Border Post. Image credit trademarksa.org

Chirundu Border Post. Image credit trademarksa.org ZIMSEC O Level Commerce Notes: Functions of customs and excise authorities

Collect and revenue for the government by charging customs and excise duties.
Collect, keep and analyse records of imported and exported goods and services.
Control bonded warehouses to ensure that duty […]
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