International Trade Knowledge forms the foundation for conducting international trade, encompassing core elements such as international trade terms, import/export procedures, documentation requirements, and settlement methods. Commonly used international trade terms include FOB, CIF, and EXW, which clearly delineate the responsibilities and cost allocation between buyers and sellers. Import/export procedures encompass inquiry, quotation, contract signing, production, customs declaration, transportation, and settlement. Each stage requires preparation of corresponding documentation, such as commercial invoices, packing lists, bills of lading, and certificates of origin. Primary settlement methods include letters of credit (L/C), telegraphic transfers (T/T), and documentary collections (D/P), each carrying distinct risks and costs. Additionally, understanding trade barriers, tariff policies, and exchange rate risks is essential. Mastering these fundamental principles of international trade enables businesses to mitigate trade risks and enhance the efficiency of their global operations.
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