When Sourcing Offshore

question 1

Multiple Choice

When sourcing offshore:

• A)the buyer should learn about the culture,customs,norms,taboos,and history of the supplier's country.
• B)differing cultural and social norms will have little impact since most businesspeople are accustomed to working with North Americans.
• C)the need for personal space is generally the same in most regions of the world.
• D)the global availability and use of email,fax,and phone has largely eliminated communication barriers.
• E)the buyer should immediately establish an informal first-name basis with the supplier's representatives.

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Definitions:

Land Titles System

A provincial government-operated system for the registration of interests in land where the government confirms and warrants the particular interests in land.

Registered Mortgage

A type of mortgage whose details are recorded with a governmental or other official registry, confirming the lien on the property.

Clear Title

Ownership of property that is free of liens, disputes, or any legal question as to the ownership of the property, ensuring the owner has the right to sell or transfer the property.

Advances Money

The act of providing funds or capital in anticipation of future repayment, often with interest in financial or lending contexts.