1. The product, country to be exported and market size are in dollar terms. The product chosen to market is an electric starting component for outboard marine engines. The country chosen for export is Germany. The product is a self-contained, fully assembled unit that implements a universal fit on most battery-operated marine outboard motors. Manufacturing cost is $50.00 per unit with a 50% markup for a total selling price of $100.00 each. The product is manufactured in a locally owned facility in Madison, Wisconsin. According to the latest trade statistics, Germany imported $299 million in outboard motors for marine propulsion in 2005. This figure represents an increase of 14.6 percent over the previous year. Of all the replacement components on an outboard motor, experience shows that electric starting is one of the most frequently needed and there is a market for this product. I plan to initiate letters of credit for sales transactions, as well as early cash with new customers or a combination of both. Of course, credit checks will be conducted on companies wishing to purchase my product. I plan to contact the US Embassy in Germany and request credit information, as well as the shipping company I intend to use for the transaction. A letter of credit is a binding document that guarantees payment to the seller for goods sold. Eliminates the risk of non-payment by the buyer. The seller presents the required shipping documents to the bank which essentially confirm the delivery of the goods. The seller's bank works with the buyer's bank to make the actual cash transaction. Both banks will charge a fee for this service, especially since the risk is borne by the importer/buyer's bank. If something goes wrong in the documentation and the exporter has already been paid, the importer is not obligated to pay the bank. I like the prepayment option because the cash transaction is completed before the goods are shipped. No risk is assumed by the seller; by the buyer only.2. The import levels of the product in the chosen country. General imports into Germany for February 2002 of electrical equipment, household appliances or components were $249,650 million USD, based on custom value. For the year ending 05/12, the total amount of imports was 625.