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Presentation on foreign bank charges and nature of discrepancies in Hongkong,China and Korea market

Presentation on foreign bank charges and nature of discrepancies in Hongkong,China and Korea market

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summer training project PPTs Presentation Transcript

  • 1. Study on foreign bank charges and nature of discrepancies
    Presented by:
    GursharanKaur
    MBA-2B
    94972238270
  • 2. Largest industry when it comes to employment
    Contributes about 34% of total exports
    India is the second largest producer of cotton yarns and fifth in production of synthetic fibres and yarns.
  • 3. Segments of Textile Industry
    Processes used in Textile Industry
    Leading Textile mills
  • 4. Set up: 1965
    Steel:1973
    Sewing thread:1982
    Fabric weaving:1990
    Acrylic fibre: 1999
  • 5. Rooted in Values,
    Creating World Class Textiles.
  • 6. Vardhman aims to be world class textile organization producing diverse range of products for the global textile market. Vardhman seeks to achieve customer delight through excellence in manufacturing and customer service based on creative combination of state-of-the-art technology and human resources. Vardhman is committed to be responsible corporate citizen.
  • 7.
  • 8. Largest exporter of cotton yarns.
    Largest range of textile products.
    Second largest producer of sewing thread in the country.
    First in Indian textile industry to get ISO certification in yarns and sewing thread.
  • 9.
  • 10. Yarn
    Fabric
    Sewing thread
    Acrylic fibre
    Steel
  • 11.
  • 12. MIS
    Exports
    Finance
    Marketing
    HR
    Taxation
    EDP & IT
    Projects & Planning
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.
  • 18.
  • 19.
  • 20. Letter of Credit
  • 21. Foreign Bank Charges
    Definition
    When Exporter sends documents to Customer’s bank in Foreign country,Certain charges are deducted by the customer’s bank on realization of documents.These are Foreign Bank charges
  • 22. Discrepancy
    Any deviations from the terms and conditions of Letter of Credit
  • 23. LC Charges
    There are two types of LC charges
    • Avoidable Charges
    • 24. Unavoidable Charges
  • Avoidable Charges
    1..Discrepancy Charges
    2.Acceptance Commission
    3.Port Demurrege
    4.Ammendment charges
  • 25. Unavoidable Charges
    1.Reimbursement Charges
    2.Telex Charges
    3.SWIFT Charges
  • 26. OBJECTIVES
    To understand each and every Foreign Bank Charge and to know their nature that is on which criteria are these charges levied.
     
  • 27. CONT…
    . To understand the nature of discrepancies & their charges levied by foreign banks
    To justify amount paid as a bank charge and seek further saving potential of the paid expenses for future dealings of the Group with the banks
     
  • 28. Research design: Descriptive
    Sampling
    • Target population
    • 29. Sampling unit
    • 30. Sample size
    • 31. Sampling technique: Judgemental
  • Data collection: Primary and secondary
    Limitations
    Limited scope
    Unavailability Of Charges in certain case
    Difficult to analyze the data
  • 32.
  • 33. Hongkong Market
  • 34.
  • 35.
  • 36.
  • 37. fig 4.5 Lead textiles ltd
  • 38. Hojet textile ltd
  • 39. Kapo’s Textiles ltd
  • 40.
  • 41. Fountain set limited
    Fountain Set limited’s discrepency detail was not available .
  • 42. Marubeni hongkong
  • 43. Yuenshing dyeing
  • 44. China Market
  • 45.
  • 46.
  • 47. Guangdong Esquel Ltd.
  • 48.
  • 49. Korean Market
  • 50.
  • 51. Hansoll textiles ltd
  • 52. Dong-il
    Dong-IL discrepancy detail not avaible
  • 53. Yoonia Tex co. ltd
  • 54. Hansae fashion
  • 55. Handsome discrepancy detail
  • 56.  Sae-A Trading Co., Ltd
    No discrepancy detail
  • 57. ANALYSIS OF PRIMARY DATA
     
     
     
     
     
     
     
     
  • 58. Recommendations 
     
     
     
     
     
     
  • 59. Hongkong market
    In cases of the discrepancy such as “late shipment”, it should be taken care of that the production schedules are met with and accordingly the shipment is made.
    In the case of“documentsnot as per LC”, the documentation team can be asked to be a little more vigilant and keep the customer abreast of various problems faced during the same.
  • 60. Korean market
    High number of intermediaries was of main concern here, so it was recommended to open an LC through a bank having lesser number of intermediaries.
    Customer wise bank was recommended in the study in this light.
    In case of Sea-A-Trading,LC should be opened through Korean Exchange Bank, Citi Bank, as it levies the acceptance commission and discount charges on the buyer, less no. of intermediary banks.
  • 61. In Handsome Textiles LTD., LC through Shinhan Bank, as it levies the acceptance commission and discount charges on the buyer, less no. of intermediary banks, less discrepancy charges.
    Hostar Company should open its LCs with CitiBank ,as it has less no. of intermediary banks,low acceptance commission.
  • 62. China market
    In the case of discrepancies such as “documents not as per LC”, the documentation team can be asked to be a little more vigilant and keep the customer abreast of various problems faced during the same