Conducting business internationally requires planning for foreign exchange rates, varying inflation rates, and applicable laws and regulationsat home and abroad. *

True

False

Price Ceiling is the maximum price the buyer is willing to pay, whereas the Price Floor is the minimum price the seller will charge for the goods. *

True

False

Careful planning and preparation up front can help determine risk factors and the necessary mitigation tools and provide a basis for a successful commercial relationship. *

True

False

While doing the contract negotiation, you can skip details about the payment method and payment terms and leave it until after signing the contract. *

True

False

Cost-based pricing, Penetration pricing, and Value-based pricing are all examples of Cost-Cutting Strategies. *

True

False

The Incoterms rules are created and published by the International Chamber of Commerce (ICC) and are revised from time to time. The Incoterms rules are standard sets of trading terms and conditions designed to assist traders when goods are sold and transported. *

True

False

Cargo insurance, freight forwarders, trading houses are considered as some of the delivery factors for exporters. *

True

False

Non-Vessel Operating Common Carriers or NVOCC book space on cargo ships in large quantities at lower rates, and sell space to shippers in small amounts at a higher rate. *

True

False

Risks of international trade include loading the products onto a truck, transferring them to a ship or plane, dealing with customs officials, unloading them at their destination, and storing or reselling them. *

True

False

Third-party logistics provider or 3PL is a service industry that offers a wide range of advisory, administrative and physical services to shippers including packaging, storage, handling, export credits, and insurance and trade documentation necessary for customs clearance in international trade. *

True

False