INB355 - Import/Export Procedures I

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Last revision date 2018-04-10 12:24:34.393
Last review date 2018-04-10 12:24:54.877

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 practise is provided.

Credit Status
One credit.

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

  1. Understand the import/export process.
  2. Assess the various 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. Demonstrate an understanding of international commercial terms (Incoterms 2000) and recognize at which point responsibility for the performance of a particular function (documentation, 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. Recognize the differences between documents of title and documents of movement.
  12. Recognize the importance of marine insurance.
  13. Understand and use the services of International Freight Forwarders and Customs Brokers effectively.

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.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on for further information regarding cheating and plagiarism policies and procedures.

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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 Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.