Question:
Discuss the process involved in securing for exports.
Answer:
Once the goods for export are shipped, the importer is informed about the shipment by the exporter. However, to claim the title of the goods, the importer is required to submit various documents, such as a copy of the invoice, bill of lading, packaging list, insurance policy, certificate of origin and letter of credit. These documents are sent by the exporter and provided by the exporter's bank only when the bill of exchange has been signed and accepted by the importer. The bill of exchange states the amount that the importer must pay to the bearer of the bill. Once the bill is received and accepted, the importer's bank is instructed by the importer to transfer money to the exporter's bank account.
In case the exporter wants immediate payment from his or her bank even if the payment has not been released by the importer, then he or she can secure payment by signing a letter of indemnity. This letter acts as an undertaking that the exporter will indemnify the bank, along with the accrued interest, in case of non-payment by the importer.
Last, when the exporter receives the payment from the bank, he or she obtains a bank certificate of payment. This certificate states that the necessary documents along with the bill of exchange have been presented to the importer for payment and that the payment has been received in accordance with the exchange control regulations.
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 was the objective of MIGA?
Q 7.
What is Shipping Bill?
Q 8.
Name the most important document of export.
Q 9.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 10.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 11.
List out major affiliated bodies of the World Bank.
Q 12.
Name the most important document used in import.
Q 13.
How many Export Promotion Councils are there in India?
Q 14.
What is the main objective of WTO?
Q 15.
When was State Trading Corporation established?
Q 16.
Why is export promotion necessary?
Q 17.
Define Export Processing Zones.
Q 18.
What is pre-shipment finance?
Q 19.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 20.
Explain the term FOB.
Q 21.
Explain briefly the process of customs clearance of export goods.
Q 22.
Explain the meaning of Mate's Receipt.
Q 23.
Discuss the principal documents used in exporting.
Q 24.
Write short note on Indent House and Dock Challan.
Q 25.
Write the full form of ICSID.
Q 26.
Santa Cruz is famous for which exclusive items?
Q 27.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 28.
Why did WTO establish? What are its objectives?
Q 29.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 30.
Explain the steps of export procedure.
Q 31.
What is a Letter of Credit? Why does an exporter need this document?
Q 32.
Name the certificate which is used for ensuring timely payment.
Q 33.
Discuss the formalities involved in getting an export license.
Q 34.
Discuss the principal documents used in exporting.
Q 35.
Which agency of World Bank provides loan to private sector of developing countries?
Q 36.
What is IMF? Discuss its .various objectives and functions.
Q 37.
Give full form of EPZ and SEZ.
Q 38.
Who is a clearing agent?
Q 39.
Why is it necessary to get registered with an Export Promotion Council?
Q 40.
What is IEC number?
Q 41.
What is Performa Invoice?
Q 42.
How many Commodity Boards are there in India?
Q 43.
How many regional and international offices does ITPO have?
Q 44.
What is Bill of Lading? How does it differ from bill of entry?
Q 45.
Discuss the process involved in securing for exports.
Q 46.
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 47.
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
Q 48.
What is the purpose of pre-shipment finance?
Q 49.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 50.
Which certificate is necessary to prove that goods are produced in the home country itself ?
