In the field of international business, bilateral and multilateral trade agreements play an important role in fostering economic cooperation and facilitating global commerce. These agreements involve two or more countries and aim to establish mutually beneficial terms and conditions for the exchange of goods, services, and investments among each other. 

Regional Economic Integration is the result of the economic integration of various trading areas of different countries and it is also known as Regional Economic cooperation. Regional Trade Areas, Regional Grouping and Regional Bloc.

International Human Resource Management (IHRM) is about the worldwide management of human resources. It examines how international organisations manage their human resources across these different national contexts

Organisational structure is the formal arrangement of roles, responsibilities, and relationships within an organisation. International companies specify the structure that groups individuals and operational units in ways that managers believe best support the strategy of the firm.

The international financial system consists of numerous rules, customs, instruments, facilities, markets, and organisations that enable international payments to be made and funds to flow across borders. In recent years, the international financial system has experienced tremendous growth.

In order to ensure a smooth and efficient financial transaction process several payment terms have been established. These payment terms outline the expectations and responsibilities of both parties (buyer and seller) involved in the payment process.