International Trade Practice (5N2072) QQI Level 5 Assignment Sample Ireland

This assignment is on the course “International Trade Practice”. The objective of the course is to make the learners understand the principles as well as practices of International Trade.

The course in context also assists the learners to work on an independent level. The course also helps the learners to work within an International Trading environment under supervision. There are several outcomes of learning the course in context.

These learning outcomes are discussed as part of the assignment. Besides, the student can also know about the assessment criteria and techniques that are used to understand the competencies of the students.

International Trade Practice (5N2072) Level 5 Course Learning Outcomes

This assignment highlights the learning outcomes related to the course. Following are the learning outcomes concerning International Trade Practice 5N2072:-

Historical as well as recent developments in world trade

This course highlights the historical as also recent developments in world trade. World trade is dealt with by the World Trade Organization and its purpose is to lay down the trade rules and to make sure that global trade takes place freely and smoothly.

Understanding the function and significance of exports to the Irish economy

As part of world trade practice, there are exports made to Irish companies as well as the Irish economy. The course in context allows the learners to have useful insights on the reasons for such exports, the benefits and uses of exports, the roles of the department of export, and the investments that are made to the export sector.

What are the important conventions, legislations, and regulations pertinent to global trade?

The course in context also allows the learners to comprehend the significant conventions, legislations, and regulations that are related to international trade. The course also highlights the roles of international trade organizations.

What are the contemporary transport practices in Ireland?

There are several transport practices concerning International Trade. The course in context discusses how routes and modes of transport are selected for transportation. The course also discusses the function of freight-forwarders and the timing when rules of trading apply to the carriage of goods.

Explanation of important global trade terms

The course on International Trade Practice 5N2072 also helps to understand important global trade terms. The course helps the students to understand the terms distributor, agent, and principal.

Comment on the need for export licenses concerning International Trade Practice in Ireland

The course on International Trade Practice 5N2072 helps the learners to understand the needs of export licenses, document controls, controls and management, custom warehousing, inward processing, paperless declarations, non-EU and EU custom needs, and regulations.

Pertinent insurance principles and terms

The course in context also throws light on pertinent insurance principles and terms. It discusses cargo insurances, product liability, export credit, arbitration, and career liability insurances.

What are the needs and procedures for cargo packing?

The course on International Trade Practice 5N2072 also discusses the needs and procedures for cargo packing. Besides, it discusses labeling and protection of cargo and pre-shipment inspections of cargo.

Discuss distribution and agency

The course in context also discusses distribution and agency. It discusses the differences between distribution and agency, drawbacks and benefits of distribution and agency, agent responsibilities, and the problems associated with terminating an agreement (agent-principal).

How to process global trade documents?

The course also informs the learners about the methods used to process various global trade documents. It helps to understand how to process bills of lading, insurance certificates, certification of origin, and standard consignment notes as per current needs.

How do calculations relate to global trade?

The course in context helps the learners and students alike to understand how to do calculations related to global trade. The course helps to do sales inquiries, it helps to prepare quotations and invoices, and deal with fluctuations in currencies.

What are the components of a contract and dispute settlements?

There are certain components of a contract and dispute settlements concerning global trade. The course on International Trade Practice 5N2072 discusses the same. It enlightens the students about various other international trade practices.

Utilization of proper trade terms while setting up processes in a global trade environment

It is important to set up processes within a global trading environment. While doing so it is also useful to use appropriate trade terms. The course in this context helps the learners to know about the trading terms and how they can be used to set up processes within a global trading environment.

Procedures for external and internal EU trade

The course on International Trade Practice 5N2072 allows the learners to know about the various procedures that are there for external and internal EU trade. The course also helps the students to know how to process trade-related documents for external and internal EU trade.

Cater to trade-related inquiries

There can be sales inquiries about international trade and one needs to know how to deal with them. The course helps the students to know these things.

Know private and state support services

There can be private as well as state support services that are available to global traders. The course on International Trade Practice 5N2072 helps the students to know about such practices.

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