Question:
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.
Answer:
- Trade Enquiry: It refers to a document sent by an importer to an exporter, seeking information about the price of goods, terms and conditions for supply of goods, etc.. On receipt of a trade enquiry, the exporter prepares a quotation containing the information sought, and sends it to the importer.
- Import License: An import license is issued by the Government, permitting an importer to bring in goods from outside the country. In India, for securing an import license, an importer requires an IEC (Importer Expert Code) number, which is obtained after the importer's registration with the Directorate General for Foreign Trade (DGFT) or the Regional Import Export Licensing Authority.
- Shipment Advice: Shipment Advice is a document sent by an exporter to an importer as proof that the goods ordered have been shipped. It contains information about the bill of lading, name of the vessel, date, port of export, description of goods, etc.
- Import General Manifest: It is issued by the person in charge of the carrier (ship or airliner) in which the goods are being imported. The document informs the officer
in charge at the dock or the airport about the arrival of the goods, and it is on the basis of this document that the cargo will be unloaded.
- Bill of Entry: Bill of Entry is a form supplied by the customs office and filled in by the importer at the time the goods are received. It contains information such as the name and address of the importer, name of the ship in which the goods were transported and number of packages. The importer fills in the bill form and returns it to the customs office.
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 is Shipping Bill?
Q 9.
What was the objective of MIGA?
Q 10.
Name the most important document of export.
Q 11.
What is the main objective of WTO?
Q 12.
Name the most important document used in import.
Q 13.
How many Export Promotion Councils are there in India?
Q 14.
Define Mate's Receipt.
Q 15.
Why is export promotion necessary?
Q 16.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 17.
List out major affiliated bodies of the World Bank.
Q 18.
Which certificate is necessary to prove that goods are produced in the home country itself ?
Q 19.
Define Export Processing Zones.
Q 20.
When was IIFT formed?
Q 21.
Write the full form of ICSID.
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.
Santa Cruz is famous for which exclusive items?
Q 26.
What is pre-shipment finance?
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 regional and international offices does ITPO have?
Q 34.
How many Commodity Boards are there in India?
Q 35.
Explain the steps of export procedure.
Q 36.
Explain briefly the process of customs clearance of export goods.
Q 37.
Explain the term FOB.
Q 38.
What is a Letter of Credit? Why does an exporter need this document?
Q 39.
What is IMF? Discuss its .various objectives and functions.
Q 40.
Explain the term FOB.
Q 41.
Who is a clearing agent?
Q 42.
Why is it necessary to get registered with an Export Promotion Council?
Q 43.
Which agency of World Bank provides loan to private sector of developing countries?
Q 44.
Discuss the procedure related to excise clearance of goods.
Q 45.
Who is a clearing agent?
Q 46.
What is the purpose of pre-shipment finance?
Q 47.
Discuss the process involved in securing for exports.
Q 48.
Discuss the formalities involved in getting an export license.
Q 49.
What is Performa Invoice?
Q 50.
Discuss the principal documents used in exporting.
