This assignment requires you to demonstrate that you can identify, avoid and manage the risks of trading internationally. This assignment will also require you to integrate the various topics covered in this course into one consistent whole.
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- Overall proposal
1.1 Choose an Australian product for which there is sufficient demand, and that is competitive with products sourced from the target or other countries. Preferably choose a product that has won an Australian export award.
1.2 Choose a target market: choose one country to export a product from the following basket (Iraq, India, Greece, Venezuela, Ecuador, Chad, Senegal, Mongolia).
- Risk Assessment and Management
2.1 Provide reasons for choosing this product and country.
2.2 Provide a risk assessment of the target country and market.
2.3 Give suggestions about how the above risks can be avoided, mitigated or managed.
- Expected Payment Currency
3.1 Debate the currency to be used for payment (Australian, importer’s home currency or agreed third country currency) based on each party’s needs and relative bargaining power.
3.2 Decide on the most realistic currency to be used for payment and reason for this.
3.2 Currency/exchange risk to exporters, reasons for and contributing factors.
3.3 Management of currency risk for overseas-sourced costs and export revenue.
- Payment Method and Consequences
4.1 Preferred method of payment.
4.2 Realistic payment method, reason(s) for this based on each party’s needs and relative bargaining power.
4.3 Banking and other requirements to implement this payment method.
4.4 Converting unpaid invoices into cash flow.
- “Non-cash” Transactions
5.1 Relevant types of non-cash transactions, and reasons for substituting these for payment.
5.2 Applicability in your plan.
5.3 Financial and other assistance by government or private international trade facilitation bodies.
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