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⟩ a. State the basic elements of an export sales contract.b. What is a TNC? Why do firms become transnational?

Basic elements or terms present in Export sales contract:

Contract period, Parment terms and modes(L/c, Advance etc),

Tentative quantity, Rates based on Incoterms (FOB, CIF

etc), Customs clearance party name, Dispute solving

procedure, Packing and Labelling conditions, Approx.

delivering date etc.

TNC:Transnational Company nothing but MNC.

Why MNC: To improve market share, to gain Economies of

scale, brand popularity, Govt.Incentives and to avoid

marketing outsourcing cost.

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