Abstract L'idée de maisons de commerce a récemment reçue un renouveau d'attention. Un groupe de travail du gouvernement fédéral a recommandé que le secteur des maisons de commerce soit encouragé afin de stimuler les exportations canadiennes. Dans cet article, nous discutons des raisons qui motivent l'utilisation de ce type d'intermédiare à l'exportation, et nous présentons les résultats d'un sondage récent des exportateurs canadiens sur les arrangements entourant leurs exportations. La théorie ainsi que les résultats de ce sondage mettent en doute la viabilité de l'option des maisons de commerce et leur capacité de stimuler de nouvelles exportations. Les maisons de commerce n'ont pas encore démontré qu'elles peuvent satisfaire les besoins des exportateurs, et c'est précisément une telle démonstration dont on a besoin avant qu'un encouragement gouvernmental soit approprié. /// The trading house concept has recently received renewed attention. A federal government task force has recommended the encouragement of the trading house sector as a way to stimulate Canadian exports. Reasons for using this type of export intermediary are discussed, and the results of a recent survey of Canadian exporters on their export arrangements are presented. Both the theoretical framework and the survey results cast doubt on the viability of the trading house option and its ability to stimulate new export activity. Trading houses have yet to demonstrate their ability to meet exporter requirements, and it is such a demonstration that is needed before government encouragement is warranted. Show
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Our goal is to be a leading journal publisher in North America, serving the North American and international academic community with superior journals, exceptional services, and customer-focused employees. Rights & Usage This item is part of a JSTOR Collection. Proactive firms do not consider exporting until their domestic market is saturated. True False Poor understanding of competitive conditions in the foreign market is a common problem facing exporters. True False Exporters often face voluminous paperwork and complex formalities. True False Japan's great trading houses are called Samurai houses. True False The U.S. Department of Commerce organizes trade events that help potential exporters make foreign contacts and explore export opportunities. True False SCORE is a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters. True False Nearly every state in the U.S. maintains active trade commissions to promote exports. True False EMCs are governmental agencies that help the U.S. Department of Commerce to promote export in the United States. True False Hiring an EMC will help a novice exporter identify opportunities and navigate the paperwork involved in exporting. True False Firms commonly employ a reputable bank as third party in international transactions. True False A letter of credit states that an exporter has availed credit from the bank to manufacture goods. True False Exporters usually issue a letter of credit to importers in international transactions. True False The bank promises to pay on behalf of the importer when a bank is used as third party in international transactions. True False A draft is the instrument normally used in international commerce to effect payment. True False A draft is simply an order written by an exporter instructing an importer to pay a specified amount of money at a specified time. True False A sight draft allows for a delay in payment. True False A time draft is payable on presentation to the drawee True False When a time draft is drawn on and accepted by a business firm, it is called a trade acceptance. True False Time drafts cannot be sold to investors at a discount from its face value. True False . The bill of lading is a product guarantee issued by the exporter to the importer. True False A bill of lading serves as a receipt, a contract, and a document of title. True False The bill of lading does not serve as a document of title as such. True False The bill of lading can function as collateral against which funds may be advanced to the exporter by its local bank. True False An importer obtains a letter of credit from a bank in the exporter's country in a typical international transaction. True False U.S. organizations can get financing aid from the Export-Import Bank. True False The Export-Import Bank is an independent agency of the World Trade Organization. True False Ex-Im Bank has a direct lending operation under which it lends dollars to foreign borrowers. True False Foreign borrowers can avail loans from Ex-Im Bank to pay U.S. suppliers. True False Foreign Credit Insurance Association is a part of the U.S Department of Commerce and guides the activities of the Export-Import Bank. True False The Foreign Credit Insurance Association does not provide coverage against political risks faced by exporters. True False Countertrade is an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. True False Countertrade denotes a whole range of agreements that involve financial exchanges. True False Barter is a reciprocal buying agreement that occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made. True False . Barter is viewed as the least restrictive countertrade arrangement. True False Barter is primarily used for one-time-only deals in transactions with trading partners who are not creditworthy or trustworthy. True False Counterpurchase occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made. True False A counterpurchase gives exporters more flexibility than an offset. True False The term switch trading refers to the use of a specialized third-party trading house in a countertrade arrangement. True False A buyback occurs when a direct exchange of goods or services occur between two parties without a cash transaction. True False Countertrade is least attractive to large, diverse multinational enterprises. True False Which of the following statements is true of exporting? A. It increases the trade deficit that nations have. B. Exporting leads to diseconomies of scope. C. It helps a firm achieve economies of scale D. Exporting is not beneficial to a country's economy. C. It helps a firm achieve economies of scale The great promise of exporting is that _____. A. large revenue opportunities are often found in foreign markets B. it provides more opportunities to smaller firms than larger firms C. international trade is protected against exchange risks D. it reduces the need for insuring businesses against political risks A. large revenue opportunities are often found in foreign markets Which of the following statements is true of reactive firms? A. Reactive firms consider a variety of markets for selling their products and services. B. They consider exporting only after their domestic market is saturated. C. They systematically scan foreign markets for profitable export opportunities. D. They create excess productive capacity and actively hunt for opportunities in foreign markets. B. They consider exporting only after their domestic market is saturated. Which of the following is a common difficulty that traders face when exporting goods or services to other countries? A. Small firms tend to be more aggressive than larger firms in global trade. B. Governments do not provide much assistance to exporters. C. Growth opportunities are often limited in global markets. D. Exporters often face voluminous paperwork and complex formalities. D. Exporters often face voluminous paperwork and complex formalities. . Japan's great trading houses are called _____. A. sogo shosha B. kaizen C. MITI D. Samurai In the _____ program organized by the U.S. Department of Commerce, department representatives accompany groups of U.S. businesspeople abroad to meet with qualified agents, distributors, and customers. A. best prospects B. SCORE C. capital assistance D. matchmaker Which of the following statements is true about Small Business Administration (SBA)? A. It is the most comprehensive source of export opportunities information. B. SBA is a private organization managed by leaders of large corporate. C. The SBA employs trade officers throughout the United States. D. SBA offers help exclusively to small businesses that sell products within U.S. C. The SBA employs trade officers throughout the United States. Which of the following is a nationwide group of international trade attorneys who provide free initial consultations to miniature businesses on export-related matters? A. ELAN B. EMC C. MITI D. SCORE Through its _____ program, the SBA oversees about 850 volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses. A. matchmaker B. SCORE C. ELAN D. trade fair Which of the following statements is true of EMCs? A. An EMC is a transportation company that engages in international business. B. EMCs are export-import banks that manage foreign exchanges. C. EMCs are export specialists that act on behalf of their client firms. D. An EMC is an intermediary that facilitates talks between two nations C. EMCs are export specialists that act on behalf of their client firms In theory, the advantage of EMCs is that they are _____. A. managed by governments that provide export subsidies B. not-for-profit organizations that provide free service C. subsidized by the Department of Commerce D. experienced specialists who can help the neophyte exporter. D. experienced specialists who can help the neophyte exporter. In a letter of credit transaction, the importer secures the letter of credit _____. A. before product shipment B. after product shipment C. from the exporter's bank D. after receiving the product A. before product shipment Which of the following is a document used to give the title of the products to a bank? A. bill of lading B. letter of credit C. draft D. promissory note A _____ states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents. A. bill of exchange B. bill of lading C. letter of credit D. bank statement Bank charges on letter of credit will depend on the _____. A. exporter's creditworthiness B. size of the transaction C. exporter's means of finance D. time taken to approve sale B. size of the transaction A draft used in international transactions _____. A. is a document requesting payment B. explains the conditions of a contract C. is the same as a letter of credit D. gives bank guarantee to an exporter A. is a document requesting payment In an international transaction involving bank as a third party, the exporter ships the product after _____. A. the bank receives materials from the importer B. receiving cleared payment through bank C. the importer has paid the bank D. the bank promises to pay on the importer's behalf D. the bank promises to pay on the importer's behalf Which of the following is a major advantage of using a letter of credit? A. It gives the importer time to resell the merchandise before payment. B. It guarantees the exporter pre-export financing. C. It helps international traders engage in trade with trust. D. It guarantees the importer extra funds for other purposes. C. It helps international traders engage in trade with trust. Which of the following is a disadvantage of using a letter of credit (L/C)? A. A letter of credit does not give protection to the importer. B. A letter of credit does not give protection to the exporter. C. The exporter cannot avail pre-export financing when using a L/C. D. The importer must pay a bank fee for the letter of credit. D. The importer must pay a bank fee for the letter of credit The person or business initiating a draft is known as the _____. A. beneficiary B. drawee C. maker D. trustee A _____ is simply an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time. A. letter of credit B. bill of lading C. draft D. banker's letter A _____ is payable on presentation to the drawee. A. bill of lading B. time draft C. sight draft D. letter of credit A _____ allows for a delay in payment. A. bill of lading B. time draft C. sight draft D. letter of credit A banker's acceptance _____. A. is payable to the drawee immediately on presentation in a bank B. is a time draft that has been drawn on and accepted by a bank C. is a sight draft that can be used as a negotiable instrument in banks D. allows a buyer possession of the merchandise without signing any formal documents B. is a time draft that has been drawn on and accepted by a bank A _____ is issued to the exporter by the common carrier transporting the merchandise and serves as a receipt, a contract, and a document of title. A. bill of lading B. sight draft C. time draft D. letter of credit As a receipt, the bill of lading indicates that the carrier _____. A. provides a written promise of payment before releasing the merchandise B. has obtained the merchandise described on the face of the document C. receives payment from a third-party such as a bank or trading house D. is obligated to provide a transportation service in return for a certain charge B. has obtained the merchandise described on the face of the document In a typical international trade transaction, the _____. A. exporter should obtain a letter of credit to initiate transactions B. importer and exporter maintain an account with the same bank C. importer's bank sends a letter of credit to the exporter's bank D. importer's bank sends the draft and bill of lading to the exporter's bank C. importer's bank sends a letter of credit to the exporter's bank The Export-Import Bank _____. A. is an international financial institution that provides loans for capital programs B. provides finance to facilitate trade between United States and other countries C. is an independent agency of the United Nations D. focuses on policies that have an impact on the exchange rate and the balance of payments B. provides finance to facilitate trade between United States and other countries Which of the following statements is true of export credit insurance? A. Exporter will require more insurance if a letter of credit is used in transactions. B. The FCIA provides coverage against commercial risks and political risks. C. Private associations cannot offer export insurance in the United States. D. Organizations do not receive coverage against political risks of global trade. B. The FCIA provides coverage against commercial risks and political risks. _____ is an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. A. Floating exchange system B. Countertrade C. Letter of credit trade D. Fixed exchange system _____ denotes a whole range of barter-like agreements and its principle is to trade goods and services for other goods and services when they cannot be traded for money. A. Countertrade B. Cross-selling C. Matchmaking D. Letter of credit Which of the following statements is true of countertrade? A. Countertrade reduces the profitability of competing firms and is considered an unethical practice. B. Countertrade is a conventional means to pay exporters. C. Smaller organizations commonly use countertrade in international transactions. D. Countertrade occurs when goods and services are traded for other goods and services. D. Countertrade occurs when goods and services are traded for other goods and services. _____ is the direct exchange of goods and/or services between two parties without a cash transaction and is the simplest arrangement. A. Counterpurchase B. Barter C. Offset D. Switch trading _____ is viewed as the most restrictive countertrade arrangement and is primarily used for one-time-only deals in transactions with trading partners who are not creditworthy or trustworthy. A. Switch trading B. Offset C. Barter D. Buyback _____ is a reciprocal buying agreement and occurs when a firm agrees to buy a certain amount of materials back from a country to which a sale is made. A. Counterpurchase B. Barter C. Offset D. Switch trading
In a(n) _____, one party agrees to purchase goods and services with a specified percentage of the proceeds from the original sale and this party can fulfill the obligation with any firm in the country to which the sale is being made. A. switch trade B. offset C. barter D. buyback Which of the following terms refers to the use of a specialized third-party trading house in a countertrade arrangement? A. Counterpurchase B. Barter C. Offset D. Switch trading A(n) _____ occurs when a firm builds a plant in a country and agrees to take a certain percentage of the plant's output as partial payment for the contract. A. buyback B. barter C. offset D. switch trade Which of the following is an advantage of countertrade? A. Countertrade uses instruments such as time draft and sight draft. B. It is an effective way of doing business with developing nations. C. It provides exporters and opportunity to obtain direct revenue. D. Countertrade prevents exchange of unusable or poor-quality goods. B. It is an effective way of doing business with developing nations. Which of the following is a major drawback of engaging in countertrade? A. Countertrade is not useful when trading with developing nations. B. Financing is difficult when engaging in a countertrade. C. It is not attractive to small organizations. D. Countertrade may involve the exchange of unusable goods. D. Countertrade may involve the exchange of unusable goods When a specialized third party trading house is used in a countertrade arrangement it is called?The term switch trading refers to the use of a specialized third-party trading house in a countertrade arrangement.
What is it called when one party agrees to purchase goods and services with a specified percentage of the proceeds from the original sale?Offset. is similar to counterpurchase insofar as one party agrees to purchase goods and services with a specified percentage of the proceeds from the original sale. The difference is that this party can fulfill the obligation with any firm in the country to which the sale is being made. Switch trading.
What is a characteristic of countertrade?The common characteristic of counter- trade arrangements is that export sales to a particular market are made conditional upon undertakings to accept imports from that market. For example, an exporter may sell machinery to country X on condition that he accepts agricultural products from X in payment.
What is the definition of switch trading quizlet?Terms in this set (6) Barter. exchange of goods or services directly for other goods or services without the use of money as means of purchase or payment. Switch trading. practice in which one company sells to another its obligation to make a purchase in a given country.
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The use of a specialized third-party trading house in a countertrade arrangement refers to
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