Question 1 ISoalan 1] Figure-1 below depicts the 9-step process of international payment in the export-import process between the importer, exporter and banks. [Gambarajah-1 di bawah mengganbarkan 9-langkah pembayavan amtarabangsa dalam proses eksport-import di Gutara pengimport pengekspont. dan bank ] Exporter Importer 1. Sales Contract E. Shipment of Goods 6. Present Documents for Negotiation Presenting / Negotiating Bank 9. Auk for Settlement Advice LC Apply LC 8. Pay /Reimburse 7. Negotiate and Remit Documents Advising Bank Issuing Bank 3. lssue LC Figure 1- LC Application Process (a) In step-2, discuss the process of application for letter of credit (L/C) by the importer to the bank in his country. [Pada langkah-2, bincaugkan proses permohovansuratkredir (L/C) oleh pengimportse bank di yegaranva.) (b) Argue with reasons for the requirement of three banks in the payment process in the export- import management instead of only one bank [Huahkan keperlua.tiga bank dalam proses pembayaran penguRusAn eksport-import dan bukan satu bank sabasa) (c) In case the exporter requests for the confirmation of the L/C, discuss its implications on the importer. [Jika pevgeksport meminta supaya L/C disahikav, bincangkan implikastuva be atas pengimport]
Question 1 ISoalan 1] Figure-1 below depicts the 9-step process of international payment in the export-import process between the importer, exporter and banks. [Gambarajah-1 di bawah mengganbarkan 9-langkah pembayavan amtarabangsa dalam proses eksport-import di Gutara pengimport pengekspont. dan bank ] Exporter Importer 1. Sales Contract E. Shipment of Goods 6. Present Documents for Negotiation Presenting / Negotiating Bank 9. Auk for Settlement Advice LC Apply LC 8. Pay /Reimburse 7. Negotiate and Remit Documents Advising Bank Issuing Bank 3. lssue LC Figure 1- LC Application Process (a) In step-2, discuss the process of application for letter of credit (L/C) by the importer to the bank in his country. [Pada langkah-2, bincaugkan proses permohovansuratkredir (L/C) oleh pengimportse bank di yegaranva.) (b) Argue with reasons for the requirement of three banks in the payment process in the export- import management instead of only one bank [Huahkan keperlua.tiga bank dalam proses pembayaran penguRusAn eksport-import dan bukan satu bank sabasa) (c) In case the exporter requests for the confirmation of the L/C, discuss its implications on the importer. [Jika pevgeksport meminta supaya L/C disahikav, bincangkan implikastuva be atas pengimport]
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Question 1
[Soalan 1]
Figure-1 below depicts the 9-step process of international payment in the export-import process
between the importer, exporter and banks.
[Gambarajah-1 di baval mengganbarkan 9-langkah pembayavan. Gutarabangsa dalamproses eksport-import di
Gutara pengimport pengekspot dan bank ]
Exporter
Importer
1. Sales Contract
5. Shipment of Goods
Presenting /
Negotiating
Bank
6. Present Documents
for Negotiation
9. Auk for
Settlement
Advice LC
Apply LC
8. Pay / Reimburne
Nogotiate and
Remit Documents
Advising Bank
3. Issue LC
Issuing Bank
Figure 1- LC Application Process
(a) In step-2, discuss the process of application for letter of credit (L/C) by the importer to the
bank in his country.
[Pada langkah-2, bincaugkan proses permohonau surat šredit (LC) oleh pengimport be bank di negaravya)
(b) Argue with reasons for the requirement of three banks in the payment process in the export-
import management instead of only one bank
[Hjahkan keperlua iga bank dalam proses pembayaran penguRUSAN eksport-import dan bukau satu bank
sabaja]
(c) In case the exporter requests for the confirmation of the L/C, discuss its implications on the
importer.
[Jika pengeksport meminta supaya L/C disahšan, bincangkan implikasiuna ke atas pengimpert)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7085b6d6-80d5-4944-a0ad-15886b5fa49f%2F1c745b8c-3df2-4594-b000-50d0c5b3acda%2Fvqtoujj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 1
[Soalan 1]
Figure-1 below depicts the 9-step process of international payment in the export-import process
between the importer, exporter and banks.
[Gambarajah-1 di baval mengganbarkan 9-langkah pembayavan. Gutarabangsa dalamproses eksport-import di
Gutara pengimport pengekspot dan bank ]
Exporter
Importer
1. Sales Contract
5. Shipment of Goods
Presenting /
Negotiating
Bank
6. Present Documents
for Negotiation
9. Auk for
Settlement
Advice LC
Apply LC
8. Pay / Reimburne
Nogotiate and
Remit Documents
Advising Bank
3. Issue LC
Issuing Bank
Figure 1- LC Application Process
(a) In step-2, discuss the process of application for letter of credit (L/C) by the importer to the
bank in his country.
[Pada langkah-2, bincaugkan proses permohonau surat šredit (LC) oleh pengimport be bank di negaravya)
(b) Argue with reasons for the requirement of three banks in the payment process in the export-
import management instead of only one bank
[Hjahkan keperlua iga bank dalam proses pembayaran penguRUSAN eksport-import dan bukau satu bank
sabaja]
(c) In case the exporter requests for the confirmation of the L/C, discuss its implications on the
importer.
[Jika pengeksport meminta supaya L/C disahšan, bincangkan implikasiuna ke atas pengimpert)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education