IB0013 –Export Import management

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ASSIGNMENT

DRIVE	SPRING 2015
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3) PGDIB (SEM 1)
SUBJECT CODE & NAME	IB0013 –Export Import management
CREDIT	4
BK ID	B 1907
MAX.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 What do you mean by export? How many types of exports are there?

Answer: The term export means shipping the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" and is based in the country of export whereas the overseas based buyer is referred to as an "importer". In International Trade, "exports" refers to selling goods and services produced in the home country to other markets.

There are three types of bills of entry procedures in India. In other words we can say – there are three types of import in India from customs point of

2 What is RCMC? What is its purpose? How is it obtained?

Answer: RCMC Stands for Registration Cum Membership Certificate. The I.E.C. number is fed to the main server in the office of the Director General of Foreign Trade (DGFT), New Delhi, through the computers of the Regional Licencing Authorities and a hard copy as cited in the format Appendix-2B is sent to the applicant. Once the number is computerised by the office of the Director General of Foreign Trade, it is transmitted to the custom's computers and a Business Identification Number (BIN) is automatically generated by the software with the customs, which can be viewed by visiting the web site dgft.delhi.nic.in.To know the BIN acceptance by the Customs open dgft.delhi.nic.in site and click on IEC status customs (BIN). The applicant should feed the IEC Number and first three letters of the name of the firm/company and click on query. The BIN would be

3 Discuss the stages in processing of an export order.

Answer: In reality, an export exercise is concluded successfully only after the exporter has been able to deliver the consignment in accordance with the export contract and receive payment for the goods.

These are listed as follows:

1. Having an Export Order: Processing of an export order starts with the receipt of an export order. An export order, simply stated, means that there should be an

4 Write short notes on:

(a) Transport risk

Answer: The risk of loss due to the possibility that the infrastructure in an area may be insufficient to complete a project or transport a good. For example, there may be no highways or major roads in an area, which will make it

(b) Credit risk

Answer: Credit risk refers to the risk that a borrower will default on any type of debt by failing to make required payments. The risk is primarily that of the lender and includes lost principal and interest, disruption to cash flows, and increased collection costs. The loss may be complete or partial and can arise in a number of circumstances. For example:

·         A consumer may fail to make a

5 What is the significance of bill of lading for exporter and importer? Explain any 2 types.

Answer: A bill of lading is a document issued by a carrier which details a shipment of merchandise and gives title of that shipment to a specified party. Bills of lading are one of three important documents used in international trade to help guarantee that exporters receive payment and importers receive merchandise. A straight bill of lading is used when payment has been made in advance of shipment and requires a carrier to deliver the merchandise to

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