a part to the agreement.Chematch.com is building its base of customers in Pan-American countries, as well as in Asia and Latin America. It also brokers deals in North America. In an article in The Worcester Telegram, Thursday, June 22, 2000, the story is told of a small rural merchant in Illinois. The owner, Doug Young, sells hats, but not the usual variety. He offers high stylish hats that may not be available anywhere else, such as fedoras and military hats that may have been worn by German soldiers in World War LIn the story, Doug tells of a man in Norway who could no longer find a high quality felt hat. Doug found the type he wanted and the deal was transacted over the Internet. The name of the website is www.noggintops.com. His actual location of products is an old, long since closed country store, but his marketplace is the world. Through use of a virtual marketplace, Doug can sell to anyone, anywhere in the world.With the use of credit card technology to pay for purchases on the Internet, both buyers and sellers do not have to worry about any exchange rate conversions. The issuer of the credit card, such as Visa and MasterCard, takes care of all of the financial adjustments in currency. The use of a credit card also benefits the buyer as a form of protection against shoddy merchants or goods. If the buyer is not satisfied, he/she has the credit card company to fight for him/her. Credit cards protect the seller in that they do not have to accept personal checks, which may be no good or may take a long time to clear, and also he/she does not have to worry about telling the customer the current exchange rates.Any company that does worldwide business on the Internet must list the costs of their goods in many denominations. Although the actual rates for exchange may vary, an American business must list the cost of its products in francs or the Euro if it intends to do business with Germany.In order for businesses to go gl...
