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Henry and Judy agreed for Jackson Foods to make a down payment on its order before...

Henry and Judy agreed for Jackson Foods to make a down payment on its order before they shipped it. What recommendations would you give to Henry and Judy about determining the selling price and payment options for Jackson Foods as a new international customer?,

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Answer #1

Henry and Judy should look after the following recommendations-

  1. They might price the order at relevant cost basis so that price may be low attracting Jackson Foods for further business.
  2. As Jackson Foods is a new customer, they should insist on obtaining letter of credit from the banks of Jackson Foods.
  3. They should clearly set the schedule of payment and make provision for arbitration in contract of sale.
  4. They might look for any export benefits provided by their government and take the benefit and may even pass some benefits to Jackson Foods by reducing the price.
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