INB355 - Import/Export Procedures I

Outline information
Semester
Schools offering this subject
Last revision date Sep 22, 2020 5:16:48 PM
Last review date Sep 22, 2020 5:16:48 PM

Subject Title
Import/Export Procedures I

Subject Description
This subject provides students with a thorough understanding of export procedures as they relate to the international marketing of goods. Emphasis will be on the study of traditional payment methods and the most frequently used terms of sale (Incoterms). Accuracy and the timely preparation and presentation of documents are stressed to avoid costly errors. Hands-on documentation practice is provided. 

Credit Status
One diploma level credit.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Describe the import/export process.
  2. List and assess the appropriate methods of payment prevalent in international trade.
  3. Interpret an export sales contract and recognize how the terms of payment/terms of delivery identify where the transfer of costs, risk and title takes place.
  4. Identify and utilize international commercial terms (Incoterms 2020) and recognize at which point responsibility for the performance of a particular function (obligations, cost, risk) passes from the seller to the buyer.
  5. Establish an export price using the "cost-plus" method (from EXW (Ex Works) to DDP (Delivered Duty Paid) cost per unit).
  6. Interpret Uniform Rules for Collection ICC Publication 522.
  7. Handle export shipments on a collection basis.
  8. Interpret UCP 600.
  9. Handle export shipments on a documentary credit basis.
  10. Prepare transport, commercial and financial documents according to the method of payment used.
  11. Describe and discuss the differences between documents of title and documents of movement and how they are used.
  12. Describe the importance of marine insurance.
  13. Describe the services of international freight forwarders, and how they can help businesses in the movement of freight

Essential Employability Skills
Respond to written, spoken, or visual messages in a manner that ensures effective communication.

Execute mathematical operations accurately.

Apply a systematic approach to solve problems.

Use a variety of thinking skills to anticipate and solve problems.

Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.