ABSTRACT
This chapter reviews the parties involved in the practice of international trade and shows how they interface to create and complete an import–export transaction. It explores the operating environment of international trade, introduces the major parties in an import–export transaction, and explains their roles. The globalization of corporate activities accelerates the cross-border interaction market forces, leading to a greater exchange of all goods and services in order to achieve optimum economies of scale, minimize costs, and maximize revenues. This exchange takes place through international trade. The exporter is considered to be the seller and shipper of record. An export sale is completed once title has passed from exporter to importer, an invoice has been issued, an accounts receivable established, and the transaction recorded in the international accounts ledgers of the countries involved.
