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Fundamentals of Global Business English
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Global Business English refers to English used for the conduct of global business and international trade or global business transactions. |
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How to Write Business Correspondence
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Understanding the types of Global Business and how to write Business Correspondence. |
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Requisites for Global Business Transactions and their Phases
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Understanding the processes involved, parties participating, information exchanged and the rules that govern these exchanges. |
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Incoterms® 2010 – International Commercial Terms
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International Commercial Terms |
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Information Phase
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overseas market research and relevant information for potential business transactions and trading partners, such as credit inquiry |
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Identifying Overseas Business/Trading Partners
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Identifying Overseas Business/Trading Partners |
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Agreement Phase
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negotiations between a supplier and a customer will be held via offer and acceptance, and consideration, and intention to enter into legal relations. |
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Formation of International Sales Contract
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business negotiation involves five steps: inquiry, offer, counter-offer and acceptance, and concluding a contract. |
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Implementation Phase
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the exchange of products itself and the according payment, logistics, insurance and customs services . |
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International Cargo Transportation
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Carriage of goods can be achieved by means of sea, rail, air, inland waterway, parcel post, containerisation and palletisation and multimodal transport. |
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Payment
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the main instruments of payment are the currency and bills, i.e. bill of exchange (draft), promissory note, and cheque. |
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Follow-up Phase
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At the Follow-up Phase, claims by trading partners involved may occur and the dispute settlement (or the dispute resolution) procedure between the contracting parties will be determined. |
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Documentations
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Global Business Transaction (GBT) often requires various types of documents. |
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Financial Documents
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In GBT, quite a number of financial documents are used to ensure that the exporter receives full and timely payment for the shipment. A single export shipment can involve a lot of different documents to ensure that the goods. Without adequate insurance and protection of the interests of those with goods in transit, international trade cannot be guaranteed. reach the final consignee. |
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