if you create a new project when importing the MIDI file, the project will get the tempo information from the MIDI file. If you import the file to an already existing project, the project will just keep its own tempo.
OK taking in account as to what you say, at the moment i am trying to wrap my head around as to why it is when i launch CB Elements 7 and select from the drop down menu File/ import midi file i then have to open or is it create a project folder for that file which i do. Then when i play that midi file the tempo is fixed @ 120 beats.
This is extremely strange to me because this does not happen in other DAW’s such as Digital Performer 8 , Logic Pro X or my score applications such as Sibelius. In those mentioned applications i simply import an midi file and it plays the file at the tempo set by the creator programme of the midi file.
In your screenshot, that option is checkmarked, so it will ignore the “embedded” tempo when you import the MIDI File into an existing project (so if the current project is at 120 BPM, so will be your imported MIDI). If that option were not checkmarked, it would import the tempo also.
If, on the other hand, you had chosen to “Create New Project”, it would (or at least should ) import the tempo in any case.