Question:
What is Bill of Lading? How does it differ from bill of entry?
Answer:
Bill of Lading is an essential document required at the time of an export transaction. It is issued by the shipping company as a token of acceptance that the goods have been put on board in its vessel. A Bill of Lading is an undertaking from the shipping company to transfer the goods to the port of destination. Bills of Lading are freely transferable.
In contrast, a Bill of Entry is required at the time of an import transaction. It is a form supplied by the customs office and filled by the importer once the goods are received. A Bill of Entry is submitted at the customs office with information such as the name and address of the importer, name of the ship in which the goods were transported, number of packages, marks on the package, description of imported goods, quantity and value of the imported goods, name and address of the exporter, port of destination and customs duty payable.
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.
Why is export promotion necessary?
Q 13.
What is the main objective of WTO?
Q 14.
How many Export Promotion Councils are there in India?
Q 15.
Define Export Processing Zones.
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.
Explain briefly the process of customs clearance of export goods.
Q 21.
Discuss the principal documents used in exporting.
Q 22.
Santa Cruz is famous for which exclusive items?
Q 23.
How many regional and international offices does ITPO have?
Q 24.
Discuss the formalities involved in getting an export license.
Q 25.
What is IMF? Discuss its .various objectives and functions.
Q 26.
Give full form of EPZ and SEZ.
Q 27.
Write the full form of ICSID.
Q 28.
Explain the term FOB.
Q 29.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 30.
Why is it necessary to get registered with an Export Promotion Council?
Q 31.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 32.
How many Commodity Boards are there in India?
Q 33.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 34.
Who is a clearing agent?
Q 35.
Which agency of World Bank provides loan to private sector of developing countries?
Q 36.
Write short note on Indent House and Dock Challan.
Q 37.
Why did WTO establish? What are its objectives?
Q 38.
Explain the meaning of Mate's Receipt.
Q 39.
What is a Letter of Credit? Why does an exporter need this document?
Q 40.
Discuss the principal documents used in exporting.
Q 41.
When was IIFT formed?
Q 42.
Name the certificate which is used for ensuring timely payment.
Q 43.
Define Mate's Receipt.
Q 44.
What is Performa Invoice?
Q 45.
What is IEC number?
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.
Discuss the process involved in securing for exports.
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.
Explain the steps of export procedure.
