Trade Agreements
NAFTA stands for?
North American Free Trade Agreement
(T/F) You can only perform a buyback for shareholders within a company.
False. Buybacks can apply to securities other than stocks.
Incoterms are categorized in ____ basic groups
four
ASEAN was founded in 196_?
1967
(T/F) Switch trading always requires 2 parties.
False. 3 parties are typically needed.
What does FOB stand for?
FREE ON BOARD
Where is the Andean Community HQ?
Peru
(T/F) TIFs have to be re-exported within 12 months of delivery.
True.
When utilizing FOB, FAS or FCA contracts, is responsibility geared towards the buyer or seller?
Maximum responsibility on the buyer.
The World Trade Organization is the successor of?
GATT (General Agreement on Tariffs & Trade
(T/F) Incoterms were developed by the International Chamber of Commerce in 1936.
True.
What are the six forms of common transportation for global supply networks?
ROAD, MARITIME, AIR, RAIL, INTERMODAL, PIPELINE TRANSPORTAION
What are the four countries apart of the Mercosur of 1991?
Argentina, Brazil, Paraguay and Uruguay.
(T/F) In a decentralized supply network, international purchasing decentralized officers are used to facilitate large capital projects.
False, I made it up.
There are a total of __ incoterms developed by the ___
11, ICC