International Business Transactions

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The point of departure for this textbook is the fact that there exist fundamental differences between domestic and foreign trade with respect to risk. Cross-border-trading is exposed to both a higher intensity of risk and to additional risks non existent in domestic trade. Therefore highly specialized tools have been developed to cope with this particular situation. Based on a universally applicable typology of risks the text presents fundamental strategies of risk management and how they can be applied in the field of International Business Transactions. Incoterms, Documents in International Trade, Payment Techniques and Security Considerations in Cross-Border-Business and Foreign Exchange Risk and how to manage it are major topics dealt with. The text is self-contained and requires no previous familiarity with cross-border-transactions. Particular emphasis is put not only on the in-depth description of the tools but also on explaining HOW and WHY they have to be employed in a particular business context. After having worked through the text the reader (student as well as professional) should be in a position to be aware of and to avoid the pitfalls commonly encountered in International Business Transactions.