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Import/Export Basics

I.     Course Prefix/Number: GBS 205

       Course Name: Import/Export Basics

       Credits: 3 (3 lecture; 0 lab)

II.    Prerequisite

None

III.   Course (Catalog) Description

Course provides comprehensive overview of import or export business.  Content includes who and why, import/export marketing strategies, product development and market research, export terms, documentation, procedures, tariff and non-tariff barriers, getting paid or paying for imports or exports, import terms, procedures and U.S. Customs entry regulations, dates and quotas.

IV.   Learning Objectives

Students who successfully complete this course will

1.    Identify international regulations regarding transportation of goods between countries and their historical origins.
2.    Demonstrate compliance of U. S. government regulations for both imports and exports.
3.    Evaluate the use of insurance in protecting both the buyer and the seller against loss.
4.    Weigh all methods of payment, letters of credit, drafts and terms--how they are used in negotiation to gain additional sales and how to use them to gain added protection against loss.
5.    Calculate freight rates and how to find hidden ways to reduce freight rates for you or your company.
6.    Differentiate all foreign trade terms, abbreviations and the many documents used in import/export.
7.    Discuss the role of the freight forwarder and how to use forwarders to improve your position.

V.    Academic Integrity

Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton's Code of Academic Conduct. This code prohibits:

• cheating,
• plagiarism (turning in work not written by you, or lacking proper citation),
• falsification and fabrication (lying or distorting the truth),
• helping others to cheat,
• unauthorized changes on official documents,
• pretending to be someone else or having someone else pretend to be you,
• making or accepting bribes, special favors, or threats, and
• any other behavior that violates academic integrity.

There are serious consequences to violations of the academic integrity policy. Oakton's policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.
Details of the Code of Academic Conduct can be found in the Student Handbook.

VI.   Sequence of Topics

Part one - The Forwarder's Place in International Transportation and Foreign Trade.

1.    History of foreign freight forwarding.
2.    The political and economic significance of the foreign freight forwarder.
3.    The functional position of the foreign freight forwarder in international commerce.

Part two - Legal Principals Applicable to Foreign Freight Forwarding

4.    Government regulations affecting forwarders and their practices.
5.    Legal status of the foreign freight forwarder.
6.    United States export control.

Part three - Ocean Shipping

7.    Freedom of the seas
8.    Liner and tramp service
9.    The conference system
10.    Ocean freight rates and tariffs
11.    Terminal and port charges
12.    Cargo handling
13.    Documents required by ocean carriers
14.    Documents required by foreign governments
15.    Documents used in foreign freight forwarding

Part four - Marine Insurance

16.    Marine insurance
17.    The forwarder as insurance broker
18.    Types of marine insurance policies and certificates
19.    Basic fundamentals of coverage
20.    Analysis of the insurance policy
21.    Adjustments of claim-requirements and procedures

Part five - Export and Import Banking

22.    Credit and payment terms
23.    Commercial letters of credit
24.    Financing
 

Part six - Procedures in Handling of Export Shipments

25.    Transportation to seaboard
26.    Part activities
27.    Combination shipments

Part seven - Customs Brokerage

28.    United States tariff policies
29.    The customhouse broker
30.    Import procedures
31.    The foreign trade zone

Part eight - Accessorial Services and Trade Promotion

32.    Warehousing
33.    Air shipping
34.    Information and special services

Part nine - The Business Organization of the Foreign Freight Forwarder

35.    The structural and financial organization
36.    The internal organization

Part ten - Revenue

37.    Revenue

VII.  Methods of Instruction

Instruction techniques include class discussion, films, guest experts, reading assignments, and slide presentations as well as lectures.
Course may be taught as face-to-face, media-based, hybrid or online course.

VIII. Course Practices Required

1.    Reading Assignments
2.    Writing Assignments
3.    Homework Assignments

IX.   Instructional Materials

Note: Current textbook information for each course and section is available on Oakton's Schedule of Classes.

Varies by instructor.

X.    Methods of Evaluating Student Progress

Progress is measured by short quizzes, classes, class participation, mid-term and final exams supplemented by a short term paper.

XI.   Other Course Information

A.    Attendance policies will be established by each instructor.

B.    Each instructor will establish policies with respect to make-up exams, incomplete grades, etc.


If you have a documented learning, psychological, or physical disability you may be entitled to reasonable academic accommodations or services. To request accommodations or services, contact the Access and Disability Resource Center at the Des Plaines or Skokie campus. All students are expected to fulfill essential course requirements. The College will not waive any essential skill or requirement of a course or degree program.