Answer:
An TEC number refers to the ‘Importer Exporter Code number. It is a 10-digit number granted by the Directorate General for Foreign Trade (DGFT) to an import/export firm depending upon the firm's credibility. It is essential for an importer/ exporter to obtain this number as it is to be provided in various import/export documents. In order to obtain this number, an export or import firm submits an application to the DGFT or the Regional Import Export Licensing Authority along with documents and information such as the profile of the importer/exporter, fee receipt from a bank, non-resident's interest details, certificate from the banker on the prescribed form, two photographs attested by the banker and a declaration about the applicant's non-association with firms placed in the caution list. Once the final submission is done and authenticated, the DGFT or the Regional Import Export Licensing Authority issues an IEC number to the importer/exporter, which helps the firm concerned in availing itself of benefits granted by the DGFT to importers/exporters.
International Business II
Q 1.
List various affiliated bodies of World Bank.
Q 2.
Name any two WTO Agreements.
Q 3.
Discuss the process involved in securing for exports.
Q 4.
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 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.
List out major affiliated bodies of the World Bank.
Q 11.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 12.
How many Export Promotion Councils are there in India?
Q 13.
Name the most important document used in import.
Q 14.
What is the main objective of WTO?
Q 15.
Why is export promotion necessary?
Q 16.
When was State Trading Corporation established?
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.
Santa Cruz is famous for which exclusive items?
Q 23.
Discuss the principal documents used in exporting.
Q 24.
Explain the meaning of Mate's Receipt.
Q 25.
Write the full form of ICSID.
Q 26.
Write short note on Indent House and Dock Challan.
Q 27.
Why did WTO establish? What are its objectives?
Q 28.
Discuss the formalities involved in getting an export license.
Q 29.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 30.
What is a Letter of Credit? Why does an exporter need this document?
Q 31.
Give full form of EPZ and SEZ.
Q 32.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 33.
Explain the steps of export procedure.
Q 34.
Who is a clearing agent?
Q 35.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 36.
Discuss the principal documents used in exporting.
Q 37.
What is IMF? Discuss its .various objectives and functions.
Q 38.
Why is it necessary to get registered with an Export Promotion Council?
Q 39.
Name the certificate which is used for ensuring timely payment.
Q 40.
How many Commodity Boards are there in India?
Q 41.
How many regional and international offices does ITPO have?
Q 42.
Which certificate is necessary to prove that goods are produced in the home country itself ?
Q 43.
Who is a clearing agent?
Q 44.
What is the purpose of pre-shipment finance?
Q 45.
Which agency of World Bank provides loan to private sector of developing countries?
Q 46.
Write the full form of DTA.
Q 47.
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 48.
Identify various organizations that have been set up in the country by the government for promoting country's foreign trade.
Q 49.
Explain the term FOB.
Q 50.
What is IEC number?
