9.11 - Perform global trade services
PCF ID: 17059 | Elements: 11 | Metrics Available: N | Benchmarkable: 0
Definition
Making and collecting payments for transactions in products/services, and transporting them to interested markets.
Overview
This process group covers perform global trade services within the broader context of Manage Financial Resources.
Process Hierarchy
Processes
| ID | Process | PCF ID | Sub-elements | Metrics |
|---|---|---|---|---|
| 9.11.1 | Screen sanctioned party list | 14090 | 0 | N |
| 9.11.2 | Control exports and imports | 14091 | 0 | N |
| 9.11.3 | Classify products | 14092 | 0 | N |
| 9.11.4 | Perform currency conversion | 19593 | 0 | N |
| 9.11.5 | Calculate duty | 14093 | 0 | N |
| 9.11.6 | Communicate with customs | 14094 | 0 | N |
| 9.11.7 | Document trade | 14095 | 0 | N |
| 9.11.8 | Process trade preferences | 14096 | 0 | N |
| 9.11.9 | Handle restitution | 14097 | 0 | N |
| 9.11.10 | Prepare letter of credit | 14098 | 0 | N |
9.11.1 - Screen sanctioned party list
PCF ID: 14090
Definition: Evaluating the approved list of parties for engaging in international trade in order to ensure the safety of the organization's business transactions. Examine agents that have been granted legal rights to engage in global trade and their credentials.
9.11.2 - Control exports and imports
PCF ID: 14091
Definition: Overseeing and directing the flow of trade to/from the organization in order to ensure financial gains.
9.11.3 - Classify products
PCF ID: 14092
Definition: Systematically categorizing products/services for their suitability to international trade. Create classes and categories for demarcating the types of products suitable for international trade. Study requisite national and international standards and the adherence of the organization's portfolio of offerings to these.
9.11.4 - Perform currency conversion
PCF ID: 19593
Definition: Identifying current exchange rates between two currencies and converting the foreign currency to that of the local monetary unit. I.E., yen to US dollar.
9.11.5 - Calculate duty
PCF ID: 14093
Definition: Computing the excise duty to be paid during international trade.
9.11.6 - Communicate with customs
PCF ID: 14094
Definition: Communicating with the customs department to ensure fluid compliance. Share pertinent information mandated by law with the government agency that controls and collects the duties levied for the international exchange of products/services.
9.11.7 - Document trade
PCF ID: 14095
Definition: Documenting and recording the trade processes while making transactions, noting the description, quality, number, transportation medium, indemnity, and inspection.
9.11.8 - Process trade preferences
PCF ID: 14096
Definition: Preparing global trade under preference, which allows the organization to import/export products at a lower or nil rate of customs duty and/or levy charge.
9.11.9 - Handle restitution
PCF ID: 14097
Definition: Administering and overseeing all restitution activities the organization may be subjected to. Manage compliance with apposite legal frameworks. Make any restitution that may be required by law; comply with authorities over any fines or non-financial measures imposed.
9.11.10 - Prepare letter of credit
PCF ID: 14098
Definition: Creating a document assuring that a seller will receive payment when certain delivery conditions are met. (If the buyer is unable to make payment on the purchase, a bank covers the outstanding amount.)
Change Summary (v7.2.1 vs v6.1.1)
Changes indicated by:
+XXXXX- New element added-XXXXX- Element removedcXXXXX- Element changedNEW- Newly introduced
Complete Element List with Definitions
All 11 elements
| ID | Name | Definition |
|---|---|---|
| 9.11 | Perform global trade services | Making and collecting payments for transactions in products/services, and transporting them to inter... |
| 9.11.1 | Screen sanctioned party list | Evaluating the approved list of parties for engaging in international trade in order to ensure the s... |
| 9.11.2 | Control exports and imports | Overseeing and directing the flow of trade to/from the organization in order to ensure financial gai... |
| 9.11.3 | Classify products | Systematically categorizing products/services for their suitability to international trade. Create c... |
| 9.11.4 | Perform currency conversion | Identifying current exchange rates between two currencies and converting the foreign currency to tha... |
| 9.11.5 | Calculate duty | Computing the excise duty to be paid during international trade. |
| 9.11.6 | Communicate with customs | Communicating with the customs department to ensure fluid compliance. Share pertinent information ma... |
| 9.11.7 | Document trade | Documenting and recording the trade processes while making transactions, noting the description, qua... |
| 9.11.8 | Process trade preferences | Preparing global trade under preference, which allows the organization to import/export products at ... |
| 9.11.9 | Handle restitution | Administering and overseeing all restitution activities the organization may be subjected to. Manage... |
| 9.11.10 | Prepare letter of credit | Creating a document assuring that a seller will receive payment when certain delivery conditions are... |
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