IB0013 –Export Import management

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ASSIGNMENT

DRIVE	FALL 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.

Q1 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.

Export Development and Working Capital Financing

Enables U.S. businesses to obtain loans that facilitate the export of goods or services by providing the liquidity needed to accept new business, grow international

Q2. What are the major terms and conditions of an export order?

Answer: Export Contract should be explicit as possible and without any ambiguity regarding the exact specification of goods and terms of sale including export price, mode of payment, storage and distribution method, types of packaging, port of shipment, delivery schedule, etc. All theses “terms” have a special connotation and meaning in International trade which must be understood by the parties (seller & buyer).

1. Product Standards and specifications : The first

Q3. Discuss the role played by Export Promotion Councils and Commodity boards in supporting Indian exporters. Give examples.

Answer: These organizations undertake export marketing communication by:

(i)            Advertising

(ii)           Sales Promotion

(iii)          Public Relations.

Export marketing communication by these organizations is not for the benefit of any particular firm. These organizations aim at promoting the Indian products.

Q4 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 difficult or impossible to transport goods to the area in a timely manner. This may result in a loss to the seller. Infrastructure risk is

(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:

Q5 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 the appropriate party. An order bill of lading is used when shipping merchandise prior to payment, requiring a carrier to deliver the merchandise to the importer, and at the endorsement of the exporter the carrier may transfer title to the importer. Endorsed order bills of lading can be traded as a security

Q6. What are the different types of custom duties levied on imported goods?

Answer: Customs Duty is a type of indirect tax levied on goods imported into India as well as on goods exported from India. Taxable event is import into or export from India. Import of goods means bringing into India of goods from a place outside India. India includes the territorial waters of India which extend upto 12 nautical miles into the sea to the coast of India. Export of goods means taking goods out of India to a place outside India. In India, the basic law for levy and collection of customs duty is Customs Act, 1962. It provides for levy and collection of duty on imports and exports, import/export procedures, prohibitions on importation and exportation of goods, penalties, offences, etc. The Central Board of Excise & Customs (CBEC) is the apex body for customs

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