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.
What is Advance License Scheme?
Q 5.
Discuss the process involved in securing for exports.
Q 6.
What is Shipping Bill?
Q 7.
What was the objective of MIGA?
Q 8.
Name the most important document of export.
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.
How many Export Promotion Councils are there in India?
Q 14.
Define Export Processing Zones.
Q 15.
Why is export promotion necessary?
Q 16.
Name the most important document used in import.
Q 17.
What is pre-shipment finance?
Q 18.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 19.
When was State Trading Corporation established?
Q 20.
Discuss the principal documents used in exporting.
Q 21.
Explain briefly the process of customs clearance of export goods.
Q 22.
Santa Cruz is famous for which exclusive items?
Q 23.
Explain the term FOB.
Q 24.
Give full form of EPZ and SEZ.
Q 25.
How many regional and international offices does ITPO have?
Q 26.
Discuss the formalities involved in getting an export license.
Q 27.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 28.
What is IMF? Discuss its .various objectives and functions.
Q 29.
Who is a clearing agent?
Q 30.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 31.
How many Commodity Boards are there in India?
Q 32.
Write the full form of ICSID.
Q 33.
Write short note on Indent House and Dock Challan.
Q 34.
Why is it necessary to get registered with an Export Promotion Council?
Q 35.
Which agency of World Bank provides loan to private sector of developing countries?
Q 36.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 37.
Name the certificate which is used for ensuring timely payment.
Q 38.
Explain the meaning of Mate's Receipt.
Q 39.
When was IIFT formed?
Q 40.
What is IEC number?
Q 41.
Discuss the principal documents used in exporting.
Q 42.
What is Performa Invoice?
Q 43.
Explain the term FOB.
Q 44.
Define Mate's Receipt.
Q 45.
Discuss the process involved in securing for exports.
Q 46.
Explain the steps of export procedure.
Q 47.
Identify various organizations that have been set up in the country by the government for promoting country's foreign trade.
Q 48.
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
Q 49.
Write the full form of DTA.
Q 50.
Who is a clearing agent?
