Financial and Legal Costs
|Unit 4.8-Financial and Legal Costs|
Unit 4.8-Financial and Legal CostsEdit
Since an international manager is often responsible for a departmental budget, he/she must know costs of the operation. Even if an international manager has no budget responsibilities, it is important know what the costs are for related financial and legal support in order to measure successful performance. The key to being successful in this area is to understand what costs may be incurred and what specifics need to be requested from the appropriate service provider. It would impossible to provide specific costs in this context since every situation, company, and country will be different.
The goal of this material is to introduce you to the financial and legal costs related to the financial aspects of international business transactions, including the ways each affects the profitability of such a transaction. By the end of this unit you will be able to
- identify applicable financial costs.
- identify applicable legal costs.
- Bank Charges
- Insurance Premiums
- Export Credit Insurance
- Legal Fees
Correlation: Materials from this unit correlate with NASBITE CGCP's Knowledge Statement 04/04/08: Knowledge of related financial and legal costs (e.g., bank charges, insurance premiums, legal fees)