Terms and Conditions of Purchase or Sale/Summary

Unit 5.1-Terms and Conditions of Purchase or Sale

Introduction | Modes of Entry | Terms of Sale | Applying Your Knowledge | Commercial Agreements | Summary | Resources | Activities | Assessment Go to Unit 5.1 | Unit 5.2 Return to International Finance Module 5: Selecting Payment Methods

Summary

It is imperative that an international manager understand the available modes of entry, terms and conditions of sale as well as the methods of payment and their associated risks. Combining this knowledge with an understanding of the components of a commercial contract will allow an international manager to effectively and profitably negotiate the appropriate terms and conditions of sale for the goods or service being transacted. Understanding and knowledge, however, are different than being a legal professional. Therefore, before any contract is signed it is essential to have an attorney review the contract. An international manager’s responsibility is to create business and profits; the attorney provides legal guidance.

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