Tra #1

1-Choose one of the following prompts and respond to it (pretend that you are providing this information to someone who knows nothing about the shipping industry):: (Do not simply copy information from your text or another source.  Use your own words to answer the prompts.)
a)List and describe the different types of ocean-going vessels used in the transport of commerce.

b)Explain the difference between a non-vessel operating common carrier (NVOCC) and a freight forwarder

2- Respond in your own words to the following prompts:
a)What is C-TPAT and why is it important to international trade?  
b)In your opinion, do you think the U.S. has sufficient safeguards in place in the area of international trade to ensure safety to the public in this area?  Why or Why not?

3-  Choose one of the following prompts and respond to it (pretend that you are providing this information to someone who knows nothing about the financial transactions):: (Do not simply copy information from your text or another source.  Use your own words to answer the prompts.)

a)Explain what incoterms are and give five examples of incoterms that are currently in use.  Explain the advantages and disadvantages that each of your examples provides the seller.  Which would you choose to use as a seller?

B)Explain what a Letter of Credit is and also explain the two most common types.  Then, give at least three examples of other types of methods for settling international transactions and explain how they work.

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