An overview of your company and explain why you chose the country and supplier 2 There are risks associated with products, discuss each risk and align it with your supplier. Outline measures you will put in place to mitigate these risks. Will the product/ raw material attract import duties, is there any trade agreement between Canada and your country of choice, discuss? 3 There are risks associated with countries, discuss each risk and align it with your supplier. Outline measures you will put in place to mitigate these risks 4 Discuss the different methods of payment and outline why you choose the letter of credit 5 There are risks associated with currencies, discuss each risk and align it with your country. Outline measures you will put in place to mitigate against foreign exchange risk and why? 6 What contingencies will you have in place in the event there is a break down in relationship with your supplier or for any reason supplies will be delayed or not arrive for you fulfil your commitment to your clients. Developing Your Idea Create your own company in Canada to conduct international business. You need to purchase finish products or raw materials from an overseas supplier. Your idea should be simplified to the degree that you could possibly implement it someday. Your idea should focus on one country and one foreign currency, since many companies are focused in this manner when they are first created. So that you can recognize the issues regarding exchange rate risk that are discussed throughout this text, you should assume that you will need to pay foreign currency when purchasing your product or raw materials. Your idea should be for a small company instead of a large company because many large companies started as small companies.