FASH 229 Lecture Notes - Lecture 6: Futures Contract, Efficient-Market Hypothesis, Jobbing House
Document Summary
Directly buy or sell from/to manufacturer/ producer/ vendor/ distributor/ wholesaler/ retailer in a foreign country. In foreign countries can assist you in buying or selling your goods for a percentage commission: jobbers. Small independent business that can import export goods on your behalf. Usually paid a set rate as well as a percentage of the transaction. For example, suppose you are on a trip and see a beautiful hat, you may hire a jobber to find the manufacturer of this hat and import it for you. Mass merchandising distributor of goods to retailers. Yet this term is now fairly outdated. Jobbing house- type of wholesale business: commission trading house. Accepts exporters goods before they are sold. It then tries to find a buyer for the goods. When goods are sold, commission house keeps a % of sales price and remits the balance to the exporter. Can also be seen as selling futures contract for a seller.
