. A firm based in California wants to export a shipload of finished lumber to the Philippines. The would-be importer cannot get sufficient credit from domestic sources to pay for the shipment but insists that the finished lumber can quickly be resold in the Philippines for a profit. Outline the steps the exporter should take to effect this export to the Philippines.

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. A firm based in California wants to export a shipload of finished lumber to the Philippines. The would-be importer cannot get sufficient credit from domestic sources to pay for the shipment but insists that the finished lumber can quickly be resold in the Philippines for a profit. Outline the steps the exporter should take to effect this export to the Philippines.

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Vickiee Vickiee · Answer 1 · 2025-04-09T07:02:02-04:00

Answer: a)Seek the help of export-import bank b).The Philippines importer could also apply for a letter of credit from their local bank

Explanation:

The steps the exporter should take to effect this export to the Philippines would be the following;

a) To seek the help of an export-import bank. These category of banks assist the financing of U.S exports and services.

b)The Philippines importer could also apply for a letter of credit from their local bank. This letter states the bank will pay some sum of money to the exporter on presentation of some particular documents. The California based company then gets paid allowing the lumber be delivered on time.