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.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 4.
What is Advance License Scheme?
Q 5.
Discuss the process involved in securing for exports.
Q 6.
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 7.
When was State Trading Corporation established?
Q 8.
What was the objective of MIGA?
Q 9.
What is Shipping Bill?
Q 10.
What is the main objective of WTO?
Q 11.
Name the most important document of export.
Q 12.
Name the most important document used in import.
Q 13.
Define Mate's Receipt.
Q 14.
How many Export Promotion Councils are there in India?
Q 15.
List out major affiliated bodies of the World Bank.
Q 16.
Why is export promotion necessary?
Q 17.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 18.
Which certificate is necessary to prove that goods are produced in the home country itself ?
Q 19.
When was IIFT formed?
Q 20.
Write the full form of ICSID.
Q 21.
Define Export Processing Zones.
Q 22.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 23.
Give full form of EPZ and SEZ.
Q 24.
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 25.
What is pre-shipment finance?
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.
Write the full form of DTA.
Q 29.
What is IEC number?
Q 30.
Identify various organizations that have been set up in the country by the government for promoting country's foreign trade.
Q 31.
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
Q 32.
Name the certificate which is used for ensuring timely payment.
Q 33.
How many Commodity Boards are there in India?
Q 34.
How many regional and international offices does ITPO have?
Q 35.
What is IMF? Discuss its .various objectives and functions.
Q 36.
Explain the steps of export procedure.
Q 37.
Explain briefly the process of customs clearance of export goods.
Q 38.
What is a Letter of Credit? Why does an exporter need this document?
Q 39.
Who is a clearing agent?
Q 40.
Explain the term FOB.
Q 41.
Explain the term FOB.
Q 42.
Which agency of World Bank provides loan to private sector of developing countries?
Q 43.
Why is it necessary to get registered with an Export Promotion Council?
Q 44.
Discuss the procedure related to excise clearance of goods.
Q 45.
Who is a clearing agent?
Q 46.
Discuss the process involved in securing for exports.
Q 47.
What is the purpose of pre-shipment finance?
Q 48.
Write short note on Indent House and Dock Challan.
Q 49.
Why did WTO establish? What are its objectives?
Q 50.
Discuss the formalities involved in getting an export license.
