Question:
Explain briefly the process of customs clearance of export goods.
Answer:
Before the final loading of goods for export, it is necessary for the exporter to get the goods cleared by customs. This is known as Securing Customs Clearance. In this regard, an exporter first requires to submit the following documents to the customs appraiser at the Customs House:
- Shipping bill
- Export order
- Letter of credit
- Commercial invoice
- Certificate of origin
- Certificate of inspection, if necessary
- Marine insurance policy.
After the submission of the documents, a carting order is obtained from the superintendent of the port concerned. The carting order acts as a gate pass for the cargo to enter the dock as it gives the necessary instructions to the staff. The physical movement of cargo then takes place from the dock to the port area and finally the goods are stored in an appropriate storage. It may not be possible for the exporter to be present at all times for performing these formalities, and therefore the task is assigned to a Clearing and Forwarding (C and F) agent.
International Business II
Q 1.
List various affiliated bodies of World Bank.
Q 2.
Name any two WTO Agreements.
Q 3.
Explain the meaning of the following documents used in connection with import transactions
- Trade enquiry,
- Import license,
- Shipment of advice,
- Import general manifest,
- Bill of entry.
Q 4.
Discuss the process involved in securing for exports.
Q 5.
What is Advance License Scheme?
Q 6.
What is Shipping Bill?
Q 7.
Name the most important document of export.
Q 8.
What was the objective of MIGA?
Q 9.
List out major affiliated bodies of the World Bank.
Q 10.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 11.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 12.
What is the main objective of WTO?
Q 13.
Define Export Processing Zones.
Q 14.
Why is export promotion necessary?
Q 15.
How many Export Promotion Councils are there in India?
Q 16.
Name the most important document used in import.
Q 17.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 18.
When was State Trading Corporation established?
Q 19.
Discuss the principal documents used in exporting.
Q 20.
How many regional and international offices does ITPO have?
Q 21.
Santa Cruz is famous for which exclusive items?
Q 22.
What is pre-shipment finance?
Q 23.
Explain briefly the process of customs clearance of export goods.
Q 24.
What is IMF? Discuss its .various objectives and functions.
Q 25.
Write the full form of ICSID.
Q 26.
Give full form of EPZ and SEZ.
Q 27.
Who is a clearing agent?
Q 28.
How many Commodity Boards are there in India?
Q 29.
Name the certificate which is used for ensuring timely payment.
Q 30.
When was IIFT formed?
Q 31.
Write short note on Indent House and Dock Challan.
Q 32.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 33.
Discuss the formalities involved in getting an export license.
Q 34.
Explain the term FOB.
Q 35.
Define Mate's Receipt.
Q 36.
What is Performa Invoice?
Q 37.
Which agency of World Bank provides loan to private sector of developing countries?
Q 38.
What is IEC number?
Q 39.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 40.
Explain the steps of export procedure.
Q 41.
Explain the meaning of Mate's Receipt.
Q 42.
Discuss the process involved in securing for exports.
Q 43.
What is Bill of Lading? How does it differ from bill of entry?
Q 44.
Rekha Garments has received an order to export 2000 men's trousers to Swift Imports Ltd. located in Australia. Discuss the procedure that Rekha Garments would need to go through for executing the export order.
Q 45.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 46.
Explain the term FOB.
Q 47.
Write the full form of DTA.
Q 48.
Why did WTO establish? What are its objectives?
Q 49.
Identify various organizations that have been set up in the country by the government for promoting country's foreign trade.
Q 50.
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
