Globial Celebrates Launch with a Video Contest + Learn 5 International Trade Terms

Globial asks How is Your Small Business Changing the World Facebook Video Contest

Answer in a 30 second video and win!

Morning everyone. Today, I wanted to announce that Globial is celebrating the launch of the platform on Monday by giving away a brand new iPad 2 and a subscription to Inc. magazine. In addition, the winner, plus 10 runner-ups, will be featured by Globial on our blog and social media channels!

All you need to do is submit a short 30 second video explaining how your business helps people, changes the world, impacts the community, or shakes up the industry. Whether you make the world’s best cookies or the world’s coolest shoes, we want to hear your stories.

Now on to our regularly scheduled program–5 international trade terms to know.

This week, we’re going to start with the B’s. Everyone loves b’s (except Ivy League prep schools and those with allergies).

Back Haul : A term used to refer to the return trip of a ship over its outbound route. (Ex. If a ship has transported goods from US to UK, then the trip for the ship back from UK to US would be called the back haul)

Back Office : The actions of a firm that are necessary for it to function, but are not directly part of its production, accounting departments are an example of back office.

Back Order : An order which cannot be fulfilled right away, but the customer is willing to wait for the order to be completed.

Back-to-Back Letter of Credit : An arrangement in which two letters of credit are used together to help a seller finance the purchase of equipment or services from a subcontractor. The advising bank of the first letter of credit becomes the issuing bank of the second letter of credit.

Background Notes : A study done and then published by the U.S. Department of State listing various details about various countries and other political units around the world.

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  1. […] week, for 5 International Trade Terms to Know we did the B’s. Today, let’s do some […]

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