Answer Questions
Name ___________________________
FRL 4263 Midterm
Answers should be clear, concise, complete and accurate. When submitting to the instructor (lcschuh@cpp.edu) put your name as the subject of the e mail. Also include the following at the end of the email,” I didn’t use any outside material including but not limited to textbook, and notes. Nor did I discuss the questions with anyone else”
1. Why is culture considered a major factor in negotiating with an individual of another culture? How do you minimize the culture impact?
2. You have been invited to the home of your Italian buyer. The dinner guest includes you, the CEO of the Italian company and the marketing manager. After several “warming up” drinks of local wines, the marketing manager started to explain why the market for your products just isn’t getting off the ground. He explained that the constant change in governments has made an environment where people don’t want to spend. He then says, how does the Americans keep a government in place for four years, … you got to tell us the secret of this longevity and you say….
3. What is the importance of the Montreal Convention in international airline transportation and do you agree or disagree with it? Why?
4. You are getting prepared for an upcoming negotiation with representatives of a company in another country. Your boss looks at your proposed agenda and she asks, “Please explain why you have the logistics terms and conditions near the start of negotiations and the judicial venue near the end?” You advise.
5. Your client company is in a CIGS signatory country. As an American company, your boss advises the UCC is much better than the CISG and the client has in several recent meeting stated their appreciation for the efficiency and flexibility of the UCC. Your client calls and asks if there is any way the UCC could be used in the upcoming negotiations rather than the CISG. What do you say and why?
6. In a meeting between your Company Chief Executive Officer (CEO) and the supplier’s CEO, it was agreed that the dispute could not be settled due to the entirely different understandings the parties have regarding the quality clause of the contract. Since 8 million EURS are tied up in escrow, both sides would like a quick resolution. What is your advice?
7. What are the differences between a letter of credit and a standby letter of credit?
8. Lee Schuh has the bank of Pomona (Federal bank) issue a letter of credit valued at $96,000t which will pay upon presentation of the (1) clearance of customs in Long Beach; (2) Bill of Lading made out to Lee Schuh: and (3) Execution of Inspection as to quality and quantity signed by Lee Schuh. The Bank of Pomona receives a custom clearance from Port of Los Angeles, Bill of Lading made out to Lee C. Schuh and An Execution of inspection signed by Lori Schuh. Should the Letter of credit be paid? Why?
9. What is a Documentary Sale and when would it be appropriate?
10. Lee’s House of Imports, Inc. has ordered 500 gross of ball point pens from Joho, LTD, headquarters and plant in Liberia, Africa. Delivery was to be made on June 16, 2019 or earlier. On June 20, 2019, the Import manager called the Operations Manager for Joho to obtain new delivery date. The Operations Manager said the goods have been at the San Pedro port since June1, 2019 but U.S. Customs won’t process the order. What are possible reasons for the hold up in customs?
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