Imagine that you are an entrepreneur in Canada, and you have a growing business that imports products made in France. Answer the following questions as they apply to "your" business:

1. What is the name of your business and what is one product that you import for sale in Canada? (1 mark)
2. You are currently negotiating a contract for purchase of this product from the seller in France. List and explain 4 risks that you might encounter as an importer/buyer in this situation. (4 marks)
3. For each risk that you have listed in b., discuss one contract clause that you could include in your sale of goods agreement to reduce or manage that risk. For each, explain how the clause addresses that particular risk. (4 marks)
4. In your contract with the exporter, you agree to pay for the product through a documentary letter of credit issued by the Toronto Dominion Bank. If the product is damaged in transit, can you stop payment under the letter of credit? Explain your answer. (2 marks)
5. Select 2 other topics that we have studied (for example, international trade agreements, contract challenges and risk management, different market entry strategies, protecting intellectual property, and dispute resolution) and discuss how the exporter can use these concepts to help their business and sales in Canada. Be specific in your answer. (You may add additional facts/assumptions if needed). (4 marks)