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User:Jukeboksi/BBA studies/Entering Target Markets
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== Export and import practicalities - Lesson 2 - Good sales quotations and Incoterms == * A '''[[w:sales quote|sales quote]]''' allows a prospective buyer to see what [[w:cost|cost]]s would be involved for the work they would like to have done. ( Wikipedia ) ::: A sales quote may also be known as '''offer''' and sometimes '''bid'''. ( jubo-jubo ) * '''The [[w:Incoterms|Incoterms]]''' ([[w:Incoterms#2010|2010]]) rules or '''International Commercial Terms''' are a series of pre-defined commercial terms published by the [[w:International Chamber of Commerce|International Chamber of Commerce]] (ICC) that are widely used in International [[w:commercial transaction|commercial transaction]]s or [[w:procurement|procurement]] processes. ( Wikipedia ) ::: [[w:Incoterms#Allocations of costs to buyer/seller according to Incoterms 2010|Table of incoterms showing who picks up the cost in each incoterm]] ( Wikipedia ) ::: Incoterms specify: :::* Transfer of risk :::* Transfer of obligations :::* Division of costs ( Teacher ) Main '''[[w:financial risk|financial risk]]s''' in foreign trade: * Customer risk ( unable or unwilling to pay ) * Country risk ( political risk ) * Foreign exchange ( currency ) risk * Bank risk * Interest rate risk
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