Level 3: Certificate in International Trade

Fundamentals of International Business will provide you with an understanding of the different types of business and organisational structures necessary to undertake international trade.

Students will learn the various ways by which a business may enter foreign markets, how to describe the financial objectives of business, including identification of sources of finance and managing financial risk.

Learning Outcomes

By the time you have finished this module, you will be able to:

1. Demonstrate an understanding of the different types of business structures which can operate in international markets

2. Know various techniques which a business may employ to move into a foreign market

3. Explain the importance of money and banking to international trade

Assessment Criteria

1.1 Identify various business structures which may be suitable for international trading

1.2 Discuss various methods by which business growth can be measured

1.3 Explain the role of banking for organisations involved in international trade

2.1 Discuss a suitable segmentation of UK businesses to engage in international trade

2.2 Explain why internationalisation can be an appropriate business option

2.3 Identify the distribution channels available for international trade

3.1 Define the role of banks in international trade

3.2 Identify alternative sources of finance

3.3 Explain the main features of managing financial risks in international trade

This module will introduce you to key concepts of managing a business involved in international trade. Students will learn to the basic elements of business planning, the marketing concept, and the main elements of the marketing mix.

Students will understand key sources of information and data, and how to use, analyse and interpret in the form of spreadsheets. Students will be provided with knowledge of the basic elements of business finance, contract law and legal issues within business operations, and understand role and importance of INCOTERMS 2020.

Learning Outcomes

By the time you have finished this module, you will be able to:

1. Demonstrate an understanding of the marketing concept and its related strategies

2. Know the legal aspects of international business operations

3. Understand the role and importance of Incoterms

Assessment Criteria

1.1 Explain the importance of proper business planning

1.2 Discuss elements of the marketing concept

1.3 Identify developments and trends in international marketing

2.1 Explain the essentials of contract law

2.2 Identify how contracts can be discharged

2.3 Discuss breaches of contract

3.1 Explain the background and purposes of Incoterms

3.2 Outline individual Incoterms 2020

3.3 Identify the relationship between the mode of transport and Incoterms

This module is designed to enable students to distinguish between developed and developing countries, identify the major religions and languages and main centres of population.

Students will be able to identify the main trading blocs in global trade, describe the origins, objectives, and future developments of the European Union.

It will enable students to analyse the structure of the UK Balance of Payments, list the UK’s main export markets and explain the basic structure and function of the Internet.

Learning Outcomes

By the time you have finished this module, you will be able to:

1. Understand the major regions of the world using a range of economic and cultural criteria

2. Demonstrate comprehension of the development, policies, and the UK’s changing relationship with the world’s trading blocs following its exit from the European Union

3. Detail the structure of the UK Balance of Payments, and describe the UK’s main export markets

Assessment Criteria

1.1 Discuss patterns within global trade by which to identify the development of various countries

1.2 Identify the world’s main centres of population, language and religion with factors which affect their development

2.1 Explain the development of the world’s major trading blocs

2.2 Understand the new relationship between the UK and the European Union

2.3 Define what is meant by the ‘Balance of Payments’ in the context of the UK’s main export markets

3.1 Explain the salient features of the UK balance of payments situation

3.2 Offer some reasons for the UK balance of payments deficit

3.3 Discuss trends in the UK’s main export markets

This module will provide students with knowledge of how to list the main elements of the export order process from enquiry to payment collection.

Students will be able to describe the roles of the main third parties involved in international trade, understand the main elements of an export quotation, proforma invoice, and different types of export invoices, including those used to satisfy rules of origin and value.

Students will be able to identify key factors, including costs, which affect the selection of different international transport modes. They will learn the basic operations of cargo and credit insurance policies and be able to list and explain the operation of the various methods of payment used in international trade.

Learning Outcomes

By the time you have finished this module, you will be able to:

1. Know the costs of the main methods of transporting goods internationally

2. Understand the roles of the key documents required when transporting goods internationally

3. Know the different payment methods in international trade

4. Understand the operation of cargo and credit insurance policies

Assessment Criteria

1.1 Explain how transportation of goods operates by sea, air, road or rail

1.2 Discuss the factors that impact on the costs of transporting goods internationally

1.3 Outline the role of freight forwarders in the transportation of goods

2.1 Explain how transport documents operate to facilitate international trade

2.2 Outline how transport documents impact upon various payment systems

3.1 Identify the advantages and disadvantages of current payment methods for both the importer and exporter

3.2 Outline which method of payment should apply to a given situation in international trade

4.1 Explain the features of cargo and credit insurance policies

4.2 Outline why cargo and credit insurance are required when engaging in international trade