IB0013 –Export Import management

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ASSIGNMENT

DRIVE	SPRING 2014
PROGRAM	MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) / PGDIB – (SEM 1)
SUBJECT CODE & NAME	IB0013 –Export Import management
BK ID	B1201
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1 Describe in brief the export packaging and packing. Explain with examples the purpose of marking.

Answer : An important stage after manufacturing of goods or their procurement is their preparation for shipment which involves packaging and labelling of goods to be exported. Proper packaging and labelling not only makes the final product look attractive but also save a huge amount of money by saving the product from wrong handling the export process.

2 What are the various modes of payment by the importer? Discuss.

Modes of payment

 Answer : : Consignment Purchase

Consignment purchase terms can be the most beneficial method of payment for the importer. In this method of purchase, importer makes the payment only once the goods or imported items are sold to the end user. In case of no selling, the same item is returned to the foreign supplier. Consignment purchase is considered the most risky and time taking method of payment for the exporter.

3 List the Principal and auxiliary export documents. Explain any two auxiliary export documents.

Answer : Principal and auxiliary export documents:

Both principal and auxiliary documents comes under the category of commercial documents. Documents required for an international sale can vary significantly from transaction to transaction, depending on the destination and the product being shipped. At a minimum, there will be two documents: the invoice and the transport document. Out of 16 commercial documents , there are 8 principal and rest are auxiliary documents.

4 Discuss the objectives and components of Electronic data interchange.

Answer : The electronic data interchange process is the computer-to-computer exchange of business documents between companies. EDI replaces the faxing and mailing of paper documents.

EDI documents use specific computer record formats that are based on widely accepted standards. However, each company will use the flexibility allowed by the standards in a unique way that fits their business needs.

5 Explain the risks covered and not covered under credit risk insurance.

Answer : Risks covered by Standard Policies fall into two categories – Commercial Risks and Political Risks.

Commercial Risks which includes Insolvency of the buyer, Protracted default in payment ( Importer has to pay within four months of due date) and Under special circumstances specified in the policy, buyer’s failure to accept the goods though there is no fault on the part of exporter.

Political Risks

What are the clauses included in Political Risks under policies issued by ECGC?

6 Write short notes on:

a) Pre shipment finance

Answer : Pre-shipment finance releases funding to accommodate the transit of goods before the exporter receives payment by providing up to 50% of the order value.

Pre-shipment / Packing Credit also known as ‘Packing credit’ is a loan/ advance granted to an exporter for financing the purchase, processing, manufacturing or packing of goods prior to shipment. Packing credit can also be extended as working capital assistance to meet expenses such as wages, utility payments, travel expenses etc;

b) Post shipment finance

Answer : Post-shipment finance advances capital upon the shipment of goods, bridging the gap in the interim whilst awaiting payment.

'Post-shipment Credit' means any loan or advance granted or any other credit provided by a bank to an exporter of goods / services from India from

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