Free Online Course in International BusinessInternational OrganizationsInternational organizations are valuable sources of information. See below.International Chamber of Commerce – www.iccwbo.orgThe ICC is the voice of world business championing the global economy as a force for economic growth, job creation and prosperity. Because national economies are now so closely interwoven, government decisions have far stronger international repercussions than in the past. ICC is a world global business organization that covers a broad spectrum from arbitration and dispute resolution to making the case for open trade and the market economy system. It helps in business self regulation, fighting corruption, and combating commercial crime. ICC sets rules and standards (arbitration). In addition, the Uniform Customs and Practice for Documentary Credits (UCP 500) are the rules that banks apply to finance billions of dollars worth of world trade every year. ICC Incoterms are standard international trade definitions used every day in countless thousands of contracts. ICC model contracts make life easier for small companies that cannot afford big legal departments. ICC provides world business recommendations to the World Trade Organization and speaks for world business when governments take up such issues as intellectual property rights, transport policy, trade law or the environment. For a credit manager, Incoterms make international trade easier and help traders in different countries understand one another. To assist risk managers in understanding the areas that the 13 Incoterms cover and the way each one works, the official ICC website now publishes The Preambles each term in read only format, together with basic information and background. The Preambles do not, however, spell out the obligations of buyer and seller, which are essential to correct use of Incoterms. This information may be obtained by consulting the full published texts of the 13 Incoterms, available from ICC publishersInternational Monetary Fund (IMF) – www.imf.orgEstablished under the Bretton Woods agreement of 1944, the IMF is involved with stabilizing foreign currency exchange rates, monitoring foreign currency exchange polices, and helping with balance of payment issues related to export earnings. Access to funds requires membership in the organization which is based in Washington, DC. The International Bank for Reconstruction & Development (IBRD) or The World Bank – www.worldbank.org Also established under the Bretton Woods agreement of 1944, the World Bank provides funding assistance to credit worthy developing countries for government supported projects. The funding is made available to companies that submit bids to provide goods and services as outlined in the agreement between the government and the World Bank.Industry OrganizationsIndustry organizations are most important resources. For every industry there is an industry organization and most likely publications as well. Many of these organizations have international committees that may be involved in hosting training seminars, networking events, trade missions, and/or government lobbying efforts opportunities. It is important that an international manager become a member of the pertinent industry organization and at the minimum browse the website and publications of the organization. If funds are available and the events are meaningful, an international manager might find that attendance could be very beneficial.Federation of International Trade Associations – www.fita.orgFITA is a source for trade leads, news, events and links to 7,000 international trade sites. These sites include buying/selling links, market research, job fairs and opportunities. EISIL (International Law links) – www.eisil.org: this category provides some of the basic primary documents of international law, as well as recommended general websites and research guides. For more specific guides and documents, consult the topical areas of EISIL such as• International Economic Law (www.eisil.org/index.php?sid=512639228&t=sub_pages&cat=19), • International Environmental Law (www.eisil.org/index.php?sid=512639228&t=sub_pages&cat=18), • International Criminal Law (www.eisil.org/index.php?sid=512639228&t=sub_pages&cat=21), and • International Human Rights (www.eisil.org/index.php?sid=512639228&t=sub_pages&cat=185), • Others listed on the EISIL home page (www.eisil.org/). Private BanksPrivate banks, as you know by now, are primary sources since they can provide credit information on their (and your) customers and information about what is going on in countries that could have an impact on your credit decision. They may also provide trade loans. Knowledge of trade loans in the banking environment is important to for an international manager to have in order to understand the process since it will have an impact on a customerʹs ability to obtain financing and deal with debt repayment issues. Banks also provide a broad range of methods for financing international trade transactions. Many companies and financial institutions draw a distinction between trade finance and structured trade finance, applying the former term to those products used to finance short term transactions. This valuable information is available to bank customers through the international banking department/executives.SummaryThere are numerous resources available to the international manager. Every resource provides different benefits and may or may not have a cost associated with it. Take some time to identify the resources, read about the available programs and if possible attend an event hosted by the resource. This will not only make you more aware of the possible benefits but also make your company more visible in the international business community.ResourcesForeign Embassies in the US – www.embassies.orgJapanese External Trade Organization (JETRO) – www.jetro.org Hong Kong Trade Development Council – www.tdctrade.com US Dept. of Commerce – www.export.gov Small Business Administration (SBA) – www.sba.gov Export Import (EXIM) Bank – www.exim.gov Centers for International Trade Development (CITD) – www.citd.org International Chamber of Commerce – www.iccwbo.org International Monetary Fund (IMF) – www.imf.org The World Bank – www.worldbank.org Federation of International Trade Associations – www.fita.org EISIL (International Law links) – www.eisil.org The Global Entrepreneur, James Foley, 2nd Edition, Jamric Press, 2004. Directory of International Trade, 7th Edition, Edward Hinkelman, World Trade Press (www.worldtradepress.com).
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