What are the key characteristics and differences among the following? Which ones take title of the goods? Which ones act in the seller's interest? (370-373)
Import Merchant
Commission House/Sellers' Agent/Sellers Rep
Import Broker
Trading Company
US Subsidiary of Foreign Seller
IPO
Direct Purchase
Freight forwarder
Customs broker
Export broker
What is countertrade? 380-381
Explain the roles of each in the Letter of Credit process:
Supplier
Buyer
Issuing Bank
Advising Bank