Barbados is a signatory to several international agreements. These include multilateral agreements such as General Agreement on Tariffs and Trade (GATT 1947) and World Trade Organisation (WTO), free trade agreements like CARICOM, CARICOM-Costa Rica, and CARICOM-Dominican Republic, and an Economic Association Agreement in CARIFORUM-European Community Economic Partnership Agreement (EPA).
Barbados as a signatory to these treaties has major implications for Tastee Cheese’s existence in Barbados. These agreements generally seek to reduce tariffs on trade and allow supplies and suppliers to move, interact and compete freely, with the ultimate objective that the increased economic activity will lift the living standards of the respective populations. …show more content…
Export responsibility will become a part of domestic employees’ job description, thus no additional personnel will exist to add to personnel costs. Taste Cheese will be delivered to the company’s outlet in Barbados via direct representation. This will enable the company to make decisions concerning program development, resource allocation or price changes. In this case, direct representation involves selling to wholesalers and retailers. The International Commercial Terms (Incoterms) will be used as the accepted terms of trade. The Delivery Duty Paid (DDP) is the Icoterms that will be used, this means Tastee Cheese will make the necessary arrangements to deliver its products to the outlet in Barbados where wholesale or retail buyers can make purchases. All costs, including duties will be paid and Tastee Cheese will accept responsibility for obtaining import licenses. Taste Cheese will be exported from Kingston, Jamaica to Bridgetown, Barbados. Taste Cheese will consider cash payments from its initial business to business customers, however, if the company has built favourable relationships with its buyers they will be given the opportunity to have open accounts that are paid for after delivery is
Barbados as a signatory to these treaties has major implications for Tastee Cheese’s existence in Barbados. These agreements generally seek to reduce tariffs on trade and allow supplies and suppliers to move, interact and compete freely, with the ultimate objective that the increased economic activity will lift the living standards of the respective populations. …show more content…
Export responsibility will become a part of domestic employees’ job description, thus no additional personnel will exist to add to personnel costs. Taste Cheese will be delivered to the company’s outlet in Barbados via direct representation. This will enable the company to make decisions concerning program development, resource allocation or price changes. In this case, direct representation involves selling to wholesalers and retailers. The International Commercial Terms (Incoterms) will be used as the accepted terms of trade. The Delivery Duty Paid (DDP) is the Icoterms that will be used, this means Tastee Cheese will make the necessary arrangements to deliver its products to the outlet in Barbados where wholesale or retail buyers can make purchases. All costs, including duties will be paid and Tastee Cheese will accept responsibility for obtaining import licenses. Taste Cheese will be exported from Kingston, Jamaica to Bridgetown, Barbados. Taste Cheese will consider cash payments from its initial business to business customers, however, if the company has built favourable relationships with its buyers they will be given the opportunity to have open accounts that are paid for after delivery is