IB0013 –Export Import management

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ASSIGNMENT

DRIVE	SUMMER 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.

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

Q2. Setting up an appropriate business organization specifically dedicated to export is one of the essential requirements to initiate export business. List the important points in setting up an export firm and discuss them in brief.

Answer: An integral aspect of starting a successful export business in India is to have a proper understanding of the products being exported. The entrepreneurs need to perform a thorough research of the market where they are intending to export.

 Good research can also help them determine which market is good for the type of products being exported by them. This is better than trying to deal with all the markets at one go.

The markets should be approached on a priority basis and thorough research should be done on products and designs being done overseas. It is

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 agreement in the form of a document, between the exporter and importer before the exporter actually starts producing or procuring goods for shipment. Generally an export order may take the form of proforma invoice or purchase order or letter of credit. You have already learnt these just in the

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

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 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

6 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

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