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
INTERNATIONAL TRADE DOCUMENTS used in Export and Import Procedures are Commercial Invoice, Packing List, Certificate of Origin, Irrevocable Letter of Credit, Bill of Lading and CMR Document.
Inline image 1
WORLD TRADE SERVICES
Advisory & Consultancy for Export & Import Incentives
WTS….is Emerging Export Import Consultancy Firm Promoted by Experienced & Expert Foreign Trade Consultant and Advocate.
WTS offer a prompt and hassle free Import Export Consultancy work like Import Export Documentation, Custom Clearance, Fema Cases, Freight Forwarding and DGFT Applications i.e. IEC/VKUY/ FMS/FPS/MIES/EPCG/DFIA /EXPORT HOUSE/100% EOU/SEZ/ APPROVAL/NORMS FIXATION and APEAL CASES.
WTS handle all comprehensive paper work with ATMOST CARE and provide Excellent/ valuable Services on Export Import Matters to our valued clients. We strive hard to ensure prompt execution of all necessary documents and formalities as per current EXIM POLICY. Through proper and professional approach we save our clients TIME and MONEY and Control Hidden Cost/Overhead Expenses.
We have Design SMS/Email System to update clients of their day to day paper works and DGFT Applications status.
Our Result Oriented Excellent EXIM Consultancy Services lead us a Emerging Export Import Consultancy Firm in India.
WTS is active Player in DUTY FREE IMPORT LICENCE Sale/Purchase having tie-up with leading Exporters - Importers for Buying and Selling DEPB/VKUY/FMS/FPS&DFIA Licences at Best Competitive Market Premium.
Inline image 3
OUR SERVICES
IEC – Import Export Code
RCMC - REGISTRATION & EXPORT COMPANY SET-UP
VKGUY License – Vishesh Krishi and Gram Upaj Yojana
FMS License - Focus Market Scheme
FPS License – Focus Product Scheme
MLFPS Licence - Market Linked Focus Products Scheme
MEIS Licence - Merchandise Export from India Scheme
EPCG License – Export Promotion Capital Goods
DFIA License – Duty Free Authorisation
ADVANCE AUTHORISATION SCHEME
EXPORT HOUSE CERTIFICATE
OTHER SERVICES
- AGRI. INFRASTRUCTURE INCENTIVE SCRIP.
- SEZ APPROVAL.
- ISO 9000/ISO 14000.
- D.S.C.: E-TOKEN INSTALLATION AND RENEWAL.
- CUSTOM CLEARANCE.
- FREIGHT FORWARDING & CHARTERING.
- IMPORT SOURCING.
- JOINT VENTURE.
TRANSPORT DOCUMENT more used for sea transport, road transport and air transport are CMR document, Bill of Lading, Airway Bill and Multimodal Bill of Lading.
The term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer" who is based in the country of import where the overseas based seller is referred to as an "exporter". Thus an import is any good(e.g. a commodity) or service brought in from one country to another country in a legitimate fashion, typically for use in trade. It is a good that is brought in from another country for sale. Imported goods or services are provided to domestic consumers by foreign producers. An import in the receiving country is an export to the sending country.
Import - Export Policy of India(EXIM POLICY)Sandip Besra
policies in the sphere of Foreign trade i.e. with respect to import & export from the country and more especially export promotion measures, policies and procedure related there to.
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
INTERNATIONAL TRADE DOCUMENTS used in Export and Import Procedures are Commercial Invoice, Packing List, Certificate of Origin, Irrevocable Letter of Credit, Bill of Lading and CMR Document.
Inline image 1
WORLD TRADE SERVICES
Advisory & Consultancy for Export & Import Incentives
WTS….is Emerging Export Import Consultancy Firm Promoted by Experienced & Expert Foreign Trade Consultant and Advocate.
WTS offer a prompt and hassle free Import Export Consultancy work like Import Export Documentation, Custom Clearance, Fema Cases, Freight Forwarding and DGFT Applications i.e. IEC/VKUY/ FMS/FPS/MIES/EPCG/DFIA /EXPORT HOUSE/100% EOU/SEZ/ APPROVAL/NORMS FIXATION and APEAL CASES.
WTS handle all comprehensive paper work with ATMOST CARE and provide Excellent/ valuable Services on Export Import Matters to our valued clients. We strive hard to ensure prompt execution of all necessary documents and formalities as per current EXIM POLICY. Through proper and professional approach we save our clients TIME and MONEY and Control Hidden Cost/Overhead Expenses.
We have Design SMS/Email System to update clients of their day to day paper works and DGFT Applications status.
Our Result Oriented Excellent EXIM Consultancy Services lead us a Emerging Export Import Consultancy Firm in India.
WTS is active Player in DUTY FREE IMPORT LICENCE Sale/Purchase having tie-up with leading Exporters - Importers for Buying and Selling DEPB/VKUY/FMS/FPS&DFIA Licences at Best Competitive Market Premium.
Inline image 3
OUR SERVICES
IEC – Import Export Code
RCMC - REGISTRATION & EXPORT COMPANY SET-UP
VKGUY License – Vishesh Krishi and Gram Upaj Yojana
FMS License - Focus Market Scheme
FPS License – Focus Product Scheme
MLFPS Licence - Market Linked Focus Products Scheme
MEIS Licence - Merchandise Export from India Scheme
EPCG License – Export Promotion Capital Goods
DFIA License – Duty Free Authorisation
ADVANCE AUTHORISATION SCHEME
EXPORT HOUSE CERTIFICATE
OTHER SERVICES
- AGRI. INFRASTRUCTURE INCENTIVE SCRIP.
- SEZ APPROVAL.
- ISO 9000/ISO 14000.
- D.S.C.: E-TOKEN INSTALLATION AND RENEWAL.
- CUSTOM CLEARANCE.
- FREIGHT FORWARDING & CHARTERING.
- IMPORT SOURCING.
- JOINT VENTURE.
TRANSPORT DOCUMENT more used for sea transport, road transport and air transport are CMR document, Bill of Lading, Airway Bill and Multimodal Bill of Lading.
The term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer" who is based in the country of import where the overseas based seller is referred to as an "exporter". Thus an import is any good(e.g. a commodity) or service brought in from one country to another country in a legitimate fashion, typically for use in trade. It is a good that is brought in from another country for sale. Imported goods or services are provided to domestic consumers by foreign producers. An import in the receiving country is an export to the sending country.
Import - Export Policy of India(EXIM POLICY)Sandip Besra
policies in the sphere of Foreign trade i.e. with respect to import & export from the country and more especially export promotion measures, policies and procedure related there to.
Some of the documents required in export transaction are preliminary inquiry and offer, confirmation of order, export license, finance among others. There are two dozen commercial and regulatory documents that are involved in the pre-shipment stage of an export transaction.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
Trade policy governs exports from and imports into a country.
Guided by the Export-Import (EXIM) Policy of the Government of India which is Regulated by the Foreign Trade (Development and Regulation) Act, 1992
It contains various policy with respect to imports and exports i.e. export promotional measures, policies and procedures related thereof. Policy was prepared and announced by the Central Government (Ministry of Commerce and Industry) for every 5 years of span.
During Export/Import Practice Management the following topics were covered.
Categories of International Documents; US Customs Import Document Requirements; Proforma and Commercial Invoices; Export Documents; AESDirect and Q&A.
12 Step of how to export goods ..
Step 1. Receipt of an order
Step 2. Obtaining License and Quota
Step 3. Letter of Credit
Step 4. Fixing exchange rate
Step 5. Foreign exchange formalities
Step 6. Preparation for executing the order
Step 7. Formalities done by forwarding agent
Step 8. Bill of Lading
Step 9. Shipment advice to importer
Step 10. Presentation of documents to the bank
Step 11. Realisation of export proceeds
Step 12. Follow up
How to export goods by "Harpreet Singh aka Chris"
PGDM EXIM PROCEDURES AND DOCUMENTATION PROJECT .docxskl services
for students pursuing import export would be helpful for taking reference.
• Understand the essentials of buying and selling of products and services to global markets
• Rules, Regulations and functions governed by Govt. authorities to control and ease of doing Import export business
• Strategies adopted to produce and deliver goods to compete in the global markets
• To know which documents are required to carry out export activity by the exporter
• To plan and augment operational and shipment activities
• To achieve the set goal of export targets by correct filing of documents to avoid loss/penalties that incur huge costs
• Both export import procedures are connected with documentation
• For inviting new start-ups to come and face up in the export import market by easy accessibility and adaptability.
• To encourage Indian exporters to promote their exports in international market – SEZ concept
• To help nation to achieve more and sustainable foreign exchange for the Nation
• To facilitate interaction and communication within state, central as well as international level
• To collaborate and interlink with foreign corporations working in the same field
• Economic advantages and protection while doing Import Export Business
• Unified system and classification adopted in Import Export business activities
• Facilitation, control and concept with intergovernmental organizations in international trade
Project on export process and documenatin of leather by leather coordinator s...Abu Sufian
Detail Report on export business of leather Coordinator Sahiwal and required documentation for export. Project acquired for the International Business course by Mr.Moazzam Ali Lecturer in COMSATS INSTITUTE OF INFORMATION TECHNOLOGY SAHIWAL
If a person performs an international trade, s/he needs to be aware of all the rules and regulations of both import and export countries. A violation of rules and regulations in this will cause trouble for both buyers and suppliers. This customs entry approval is indeed crucial for the shipper when importing goods from one country to another.
Breakeven Analysis- A decision-making aid that enables a manager to determine whether a particular volume of sales will result in losses or profits.
Made up of four basic concepts
Fixed costs- costs that do not change
Variable costs- costs that rise in propitiation to sales
Revenue- the total income received
Profit- the money you have after subtracting fixed and variable cost from revenue
Breakeven Analysis- A decision-making aid that enables a manager to determine whether a particular volume of sales will result in losses or profits.
Made up of four basic concepts
Fixed costs- costs that do not change
Variable costs- costs that rise in propitiation to sales
Revenue- the total income received
Profit- the money you have after subtracting fixed and variable cost from revenue
A market can be defined as a group of firms willing and able to sell a similar product or service to the same potential buyers.
Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.
Perfect competition and pure monopoly are very unlikely to be found in the real world.
In the real world, it is the imperfect competition lying between perfect competition and pure monopoly.
The fundamental distinguishing characteristic of imperfect competition is that average revenue curve slopes downwards throughout its length, but it slopes downwards at different rates in different categories of imperfect competition.
Monopoly refers to the market situation where there is a
Single seller selling a product which has no close substitutes.
Monopolies are characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the existence of a high monopoly price well above the firm's marginal cost that leads to a high monopoly profit
The word “oligopoly” comes from the Greek “oligos” meaning "little or small” and “polein” meaning “to sell.” When “oligos” is used in the plural, it means “few” ,few firms or few sellers.
DEFINATION:
Oligopoly is that form of market where there are few firms and there is natural interdependence among the firms regarding price and output policy.
A market can be defined as a group of firms willing and able to sell a similar product or service to the same potential buyers.
Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.
Perfect competition and pure monopoly are very unlikely to be found in the real world.
In the real world, it is the imperfect competition lying between perfect competition and pure monopoly.
The fundamental distinguishing characteristic of imperfect competition is that average revenue curve slopes downwards throughout its length, but it slopes downwards at different rates in different categories of imperfect competition.
Monopoly refers to the market situation where there is a
Single seller selling a product which has no close substitutes.
Monopolies are characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the existence of a high monopoly price well above the firm's marginal cost that leads to a high monopoly profit
The word “oligopoly” comes from the Greek “oligos” meaning "little or small” and “polein” meaning “to sell.” When “oligos” is used in the plural, it means “few” ,few firms or few sellers.
DEFINATION:
Oligopoly is that form of market where there are few firms and there is natural interdependence among the firms regarding price and output policy.
A market can be defined as a group of firms willing and able to sell a similar product or service to the same potential buyers.
Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.
Perfect competition and pure monopoly are very unlikely to be found in the real world.
In the real world, it is the imperfect competition lying between perfect competition and pure monopoly.
The fundamental distinguishing characteristic of imperfect competition is that average revenue curve slopes downwards throughout its length, but it slopes downwards at different rates in different categories of imperfect competition.
Monopoly refers to the market situation where there is a
Single seller selling a product which has no close substitutes.
Monopolies are characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the existence of a high monopoly price well above the firm's marginal cost that leads to a high monopoly profit
The word “oligopoly” comes from the Greek “oligos” meaning "little or small” and “polein” meaning “to sell.” When “oligos” is used in the plural, it means “few” ,few firms or few sellers.
DEFINATION:
Oligopoly is that form of market where there are few firms and there is natural interdependence among the firms regarding price and output policy.
A market can be defined as a group of firms willing and able to sell a similar product or service to the same potential buyers.
Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.
Perfect competition and pure monopoly are very unlikely to be found in the real world.
In the real world, it is the imperfect competition lying between perfect competition and pure monopoly.
The fundamental distinguishing characteristic of imperfect competition is that average revenue curve slopes downwards throughout its length, but it slopes downwards at different rates in different categories of imperfect competition.
Monopoly refers to the market situation where there is a
Single seller selling a product which has no close substitutes.
Monopolies are characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the existence of a high monopoly price well above the firm's marginal cost that leads to a high monopoly profit
The word “oligopoly” comes from the Greek “oligos” meaning "little or small” and “polein” meaning “to sell.” When “oligos” is used in the plural, it means “few” ,few firms or few sellers.
DEFINATION:
Oligopoly is that form of market where there are few firms and there is natural interdependence among the firms regarding price and output policy.
A market can be defined as a group of firms willing and able to sell a similar product or service to the same potential buyers.
Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.
Perfect competition and pure monopoly are very unlikely to be found in the real world.
In the real world, it is the imperfect competition lying between perfect competition and pure monopoly.
The fundamental distinguishing characteristic of imperfect competition is that average revenue curve slopes downwards throughout its length, but it slopes downwards at different rates in different categories of imperfect competition.
Monopoly refers to the market situation where there is a
Single seller selling a product which has no close substitutes.
Monopolies are characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the existence of a high monopoly price well above the firm's marginal cost that leads to a high monopoly profit
The word “oligopoly” comes from the Greek “oligos” meaning "little or small” and “polein” meaning “to sell.” When “oligos” is used in the plural, it means “few” ,few firms or few sellers.
DEFINATION:
Oligopoly is that form of market where there are few firms and there is natural interdependence among the firms regarding price and output policy.
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
Isoquant is also called as equal product curve or production indifference curve or constant product curve. Isoquant indicates various combinations of two factors of production which give the same level of output per unit of time.
Just as an indifference curve represents various combinations of two goods which give a consumer equal amount of satisfaction, an iso-product curve shows all possible combinations of two inputs physically capable of producing a given level of output. Since an iso-product curve represents those combinations which will result in the production of an equal quantity of output, the producer would be indifferent between them.
This law was given by Alfred Marshall in his book principle of economics.
It show particular pattern of change in output when some factor remain fixed.
Production depend upon factors of production , if factors of production are good, production may increase and vice-versa.
Production function show functional relationship between production and factors of production.
It refers to manner of change in output cost by the increase in all the input simultaneously and in the same proportion.
Returns refers to “change in physical output”
Scale refers to “quantity of input employed”
Change in scale means that all factors of production are increased or decreased in same proportion.
The cost advantage that arises with increased output of a product.
It arises because of the inverse relationship between the quantity produced and per-unit fixed cost.
Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on producing them.
The amount received from the sale of goods is known as ‘revenue’ and the expenditure on production of such goods is termed as ‘cost’. The difference between revenue and cost is known as ‘profit’.
For example, if a firm sells goods for Rs. 10 crores after incurring an expenditure of Rs. 7 crores, then profit will be Rs. 3 crores.
The law of demand expresses the functional relationship between price and quantity demanded.
Assumption of ‘ Ceteris Paribus’. A hypothetical assumption
If price of a commodity falls, the quantity demanded of it will rise and vice versa.
Inverse relationship between price and quantity
Other factors also play an important role.
Real world variables.
The indifference curve analysis has also been used to explain producer’s equilibrium, the problems of exchange, rationing, taxation, supply of labour, welfare economics and a host of other problems. Some of the important problems are explained below with the help of this technique.
(1) The Problem of Exchange:
With the help of indifference curve technique the problem of exchange between two individuals can be discussed. We take two consumers A and В who possess two goods X and Y in fixed quantities respectively. The problem is how can they exchange the goods possessed by each other. This can be solved by constructing an Edgeworth-Bowley box diagram on the basis of their preference maps and the given supplies of goods.
Application of indifference curve analysisYashika Parekh
The law of demand expresses the functional relationship between price and quantity demanded.
Assumption of ‘ Ceteris Paribus’. A hypothetical assumption
If price of a commodity falls, the quantity demanded of it will rise and vice versa.
Inverse relationship between price and quantity
Other factors also play an important role.
Real world variables.
The indifference curve analysis has also been used to explain producer’s equilibrium, the problems of exchange, rationing, taxation, supply of labour, welfare economics and a host of other problems. Some of the important problems are explained below with the help of this technique.
(1) The Problem of Exchange:
With the help of indifference curve technique the problem of exchange between two individuals can be discussed. We take two consumers A and В who possess two goods X and Y in fixed quantities respectively. The problem is how can they exchange the goods possessed by each other. This can be solved by constructing an Edgeworth-Bowley box diagram on the basis of their preference maps and the given supplies of goods.
The law of demand expresses the functional relationship between price and quantity demanded.
Assumption of ‘ Ceteris Paribus’. A hypothetical assumption
If price of a commodity falls, the quantity demanded of it will rise and vice versa.
Inverse relationship between price and quantity
Other factors also play an important role.
Real world variables.
The indifference curve analysis has also been used to explain producer’s equilibrium, the problems of exchange, rationing, taxation, supply of labour, welfare economics and a host of other problems. Some of the important problems are explained below with the help of this technique.
(1) The Problem of Exchange:
With the help of indifference curve technique the problem of exchange between two individuals can be discussed. We take two consumers A and В who possess two goods X and Y in fixed quantities respectively. The problem is how can they exchange the goods possessed by each other. This can be solved by constructing an Edgeworth-Bowley box diagram on the basis of their preference maps and the given supplies of goods.
It is a stream of social sciences and commerce.
It is a study of production, consumption, distribution and regulation of flow of goods and services in an economy.
It has a direct relation with money.
It studies the economic aspect of goods and services provided in the economy.
It is a wider concept and hence affects the overall conditions of the economy.
It has two major segments: micro and macro. It is derived from Greek word ‘Mikros’.
It creates efficiency and smoothens up the process of final consumption of goods and services.
It tries to understand the problems that occur while producing, distributing and consuming a product.
It deepens our understanding.
Consumption is a broader term and it is the essence of economics. Economists generally consider consumption to be the final purpose of economic activity, hence consumption per person is a central measure of an economy’s productive success.
Consumption in economics means utilization of a product or a commodity and to derive benefits from the same. The utility of a product will help us in satisfying our needs and hence it is consumption.
Consumption can be defined in different ways, but is usually best described as the final purchase of goods and services by individuals. The purchase of a new pair of shoes, a burger at the fast food restaurant, or the service of getting your house cleaned are all examples of consumption.
It is a state of maximum satisfaction from a consumption.
A producer will obtain the stage of equilibrium when he will get maximum profit from his production.
In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
Equilibrium occurs at the point at which quantity demanded and quantity supplied are equal. Market equilibrium in this case refers to a condition where a market price is established through competition.
This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes and the quantity is called "competitive quantity" or market clearing quantity.
It is a stream of social sciences and commerce.
It is a study of production, consumption, distribution and regulation of flow of goods and services in an economy.
It has a direct relation with money.
It studies the economic aspect of goods and services provided in the economy.
It is a wider concept and hence affects the overall conditions of the economy.
It has two major segments: micro and macro. It is derived from Greek word ‘Mikros’.
It creates efficiency and smoothens up the process of final consumption of goods and services.
It tries to understand the problems that occur while producing, distributing and consuming a product.
It deepens our understanding.
Consumption is a broader term and it is the essence of economics. Economists generally consider consumption to be the final purpose of economic activity, hence consumption per person is a central measure of an economy’s productive success.
Consumption in economics means utilization of a product or a commodity and to derive benefits from the same. The utility of a product will help us in satisfying our needs and hence it is consumption.
Consumption can be defined in different ways, but is usually best described as the final purchase of goods and services by individuals. The purchase of a new pair of shoes, a burger at the fast food restaurant, or the service of getting your house cleaned are all examples of consumption.
It is a state of maximum satisfaction from a consumption.
A producer will obtain the stage of equilibrium when he will get maximum profit from his production.
In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
Equilibrium occurs at the point at which quantity demanded and quantity supplied are equal. Market equilibrium in this case refers to a condition where a market price is established through competition.
This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes and the quantity is called "competitive quantity" or market clearing quantity.
The Concept
A stable strategy arises out of a basic perception by the management that the firm should concentrate on using its present resources for developing its competitive strength in particular market areas.
In simple words, stability strategy refers to the company’s policy of continuing the same business and with the same objectives
A firm pursues stability strategy when
1. It continues to serve the public in the same product or service, market, and function sectors as defined in its business definition.
2. Its main strategic decisions focus on incremental improvement of functional performance.
2. Corporate Restructuring is the process of redesigning one or more aspects of a company.
3. The process of reorganizing a company may be implemented due to a number of different factors, such as positioning the company to be more competitive, surviving a currently adverse economic climate, or acting on the self confidence of the corporation to move in an entirely new direction.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
4. Why do we need export
Export means trade across the political boundaries
of different nation. No Nation is self sufficient and
had all the goods that it needs.
This happens because of climatic variation &
unequal distribution of natural resources. As a result,
countries all over the world have become
interdependent, which necessitated foreign trade.
A developing country like India with its fast growing
agricultural production to keep pace with the
population to keep pace with the population growth
and growing Industrial infrastructure needs high-
import and this can be sustained only with fast
export growth.
5. To meet the oil import bill, export is unavoidable. Thus, it is
evident that export promotion continues to be a major
thrust area for the government. Several measures have
been under taken in the past for improving export
performance of the country.
. In India, Govt. has come out from time to time with
various policies on foreign trade to promote export
thereby increasing the “Foreign Exchange Reserve”.
These policies are termed as “Exim Policy”
6. .
Import export act was introduced by gov during
second world war and it lasted for around 45 yrs
and in June 1992 this act was superceded by the
Foreign Trade (Development & Regulation Act),
1992. . The basic objective of this new act was to
give effect to the new liberalized export and
import policy of the Govt. till 1985 annual policies
were made but from 1985-92, three yr policy was
made and then 5 yr policy was made coinciding
with 5 yr plans 1992-97, 1997-02, 2002-07.
Brief history
7. What is Exim Policy?
It contains policies in the sphere of Foreign
trade i.e. with respect to import & export
from the country and more especially
export promotion measures, policies and
procedure related there to.
Export means selling abroad and import
as bringing into India, any goods and
services
8. Objective of Exim Policy
Accelerating the country’s transition to a globally
oriented vibrant economy with a view to derive
maximum benefits from expanding global market
opportunities;
Stimulating sustained economic growth
Enhancing the technological strength and efficiency
Encouraging the attainment of internationally
accepted standards of quality
Providing consumers with good quality products and
services at reasonable prices.
9. General provisions regarding export
import
Exports and Imports free unless regulated
Compliance with Laws
Interpretation of Policy
Procedure:
Exemption from Policy/ Procedure
Principles of Restriction
Restricted Goods
Terms and Conditions of a Licence
Importer-Exporter Code Number
Exemption from Bank Guarantee
Clearance of Goods from Customs
10. EXPORT PROMOTION MEASURES
Policy measures
Institutional set up.
Import Facilitation for Export Production.
Cash subsidies.
Fiscal Incentives.
Foreign Exchange Facilities.
Export incentives
Export production units
11. Export DocumentationExport Documentation
The paperwork that is required for an export salesThe paperwork that is required for an export sales
transactiontransaction
The means by which the shipping process isThe means by which the shipping process is
facilitated and recorded.facilitated and recorded.
Documentation is essential for moving goodsDocumentation is essential for moving goods
through the channels of distribution, transferringthrough the channels of distribution, transferring
responsibility or possession, clearing goodsresponsibility or possession, clearing goods
through customs, and facilitating paymentthrough customs, and facilitating payment
according to the agreed upon terms.according to the agreed upon terms.
15. Aligned Documentation SystemAligned Documentation System
Meaning:
A methodology of creating information as a set of
standardized forms printed on paper of same size in
such a way that items of identical information occupy
the same position of each form.
16. Objectives of ADSObjectives of ADS
To simplify, rationalize and prioritize information
To achieve economy of time and effort involved in
the present methodology of export documentation.
17. Advantages Of ADSAdvantages Of ADS
UniformityUniformity
Generates many copiesGenerates many copies
Ensures convenienceEnsures convenience
Facilitates expeditious checkingFacilitates expeditious checking
Easy to handleEasy to handle
19. Commercial DocumentsCommercial Documents
Proforma InvoiceProforma Invoice
Commercial InvoiceCommercial Invoice
Packing ListPacking List
Certificate Of OriginCertificate Of Origin
Mate’s ReceiptMate’s Receipt
Bill of LadingBill of Lading
Bill Of ExchangeBill Of Exchange
20. Proforma InvoiceProforma Invoice
Document that states a commitment from the sellerDocument that states a commitment from the seller
to sell goods to the buyer at specified prices andto sell goods to the buyer at specified prices and
termsterms
Quote in an invoice formatQuote in an invoice format
Usually issued by the exporting companyUsually issued by the exporting company
Same information as the formal quotationSame information as the formal quotation
21. Contents in Proforma InvoiceContents in Proforma Invoice
Description of itemDescription of item
Type of currencyType of currency
Terms of paymentTerms of payment
Costs associated with freight and insuranceCosts associated with freight and insurance
Buyers & sellers name & addressBuyers & sellers name & address
Prices of items: per unit and extended totalsPrices of items: per unit and extended totals
Weights and dimensions of quoted productsWeights and dimensions of quoted products
Estimated shipping dateEstimated shipping date
22. Commercial InvoiceCommercial Invoice
Document showing the value of goods exportedDocument showing the value of goods exported
It includes:It includes:
- customs invoice- customs invoice
- legalized invoice- legalized invoice
- consular invoice- consular invoice
23. Customs Invoice: It is made on the
specific forms supplied by the
consular office of the respective
importer, duly filled and signed by
the shipper and serve the purpose
of making easy entry of the
merchandise into the importing
country usually at the preferential
tariff.
24.
Consular Invoice
+ Issued by Usually by the Beneficiary and
countersigned by a Chamber of
Commerce and embassy or consulate of
the importing country residing in the
country of export.
+ Content: Describes details of goods and
price.
+ Purpose: For the records of the country
of import, and accordingly this document
may be required for clearance of goods
at the destination.
25. 2. Legalized Invoice+ Issued by the
Beneficiary in terms similar to a
commercial invoice and in terms of the
Credit with the exception that the invoice
must evidence that it has been legalized
by the embassy of the county of import in
the country of export.
+ Content: As per commercial invoice
together with the legalization notation is
effected either by a notary and/or
embassy or consulate of the country of
import.
+ Purpose To satisfy the control authorities of
the country of import
29. Packing listPacking list
A list showing the details of goods contained inA list showing the details of goods contained in
each parcel/shipment.each parcel/shipment.
Detailed view of item-by-item the containers toDetailed view of item-by-item the containers to
enable the buyer/receiver of shipment to check theenable the buyer/receiver of shipment to check the
shipment.shipment.
It is prepared at the time of exports immediatelyIt is prepared at the time of exports immediately
after inspection and certification by central exciseafter inspection and certification by central excise
inspector.inspector.
30. Packing list includesPacking list includes
Name and address-shipper & consigneeName and address-shipper & consignee
WeightWeight
QuantityQuantity
DescriptionDescription
Order numberOrder number
Exporting CarrierExporting Carrier
31. Cont.….
It itemizes the material in each individualIt itemizes the material in each individual
package and indicates the type of package: box,package and indicates the type of package: box,
crate, drum, carton, and so on.crate, drum, carton, and so on.
It shows individual net, legal, and gross weightsIt shows individual net, legal, and gross weights
and measurements for each package .and measurements for each package .
The list is used by the shipper or forwardingThe list is used by the shipper or forwarding
agent to determine the total shipment weightagent to determine the total shipment weight
and volume and whether the correct cargo isand volume and whether the correct cargo is
being shipped.being shipped.
32. Presented to…Presented to…
Excise inspectorExcise inspector
CustomsCustoms
Duty drawback cell of customsDuty drawback cell of customs
33. Certificate of originCertificate of origin
It traditionally states from what country theIt traditionally states from what country the
shipped goodsshipped goods originateoriginate..
It is require to claim preferential tariffs.It is require to claim preferential tariffs.
Helps prove that the product is allowed into thatHelps prove that the product is allowed into that
particular country.particular country.
34. Issued byIssued by
Chamber of commerceChamber of commerce
Export promotion council(EPC)Export promotion council(EPC)
Commodity boardsCommodity boards
35. Captain’s/Mate receiptCaptain’s/Mate receipt
Temporary receipt issued for goods, which have beenTemporary receipt issued for goods, which have been
delivered to the vessel.delivered to the vessel.
Acknowledgement that the ship owner has received theAcknowledgement that the ship owner has received the
goods in the condition stated.goods in the condition stated.
Preliminary document only, which is later given up inPreliminary document only, which is later given up in
return for the bill of lading.return for the bill of lading.
When the Chief Officer signs the receipt for goods he isWhen the Chief Officer signs the receipt for goods he is
personally liable for any deficiency in the number provedpersonally liable for any deficiency in the number proved
to exist on discharge of the good.to exist on discharge of the good.
36. ContCont.….
Mate's Receipts should be issued on ship's forms andMate's Receipts should be issued on ship's forms and
numbered.numbered.
The number in dispute should clearly be stated inThe number in dispute should clearly be stated in
words on the receipt which there is agreement beingwords on the receipt which there is agreement being
separately shown .separately shown .
Mate's receipts should be endorsed "at shipper's riskMate's receipts should be endorsed "at shipper's risk
until actually shipped.until actually shipped.
37. ContentContent
Name of the shipperName of the shipper
Place of receiptPlace of receipt
Voyage NumberVoyage Number
Port of LoadingPort of Loading
Port of DischargePort of Discharge
Place of DeliveryPlace of Delivery
Container NumberContainer Number
Description of GoodsDescription of Goods
Gross WeightGross Weight
38. Bill of LadingBill of Lading
A document issued by a carrier or by a shipper's agentA document issued by a carrier or by a shipper's agent
that identifies the goods received for shipment, wherethat identifies the goods received for shipment, where
the goods are to be delivered, and who is entitled tothe goods are to be delivered, and who is entitled to
receive the shipment.receive the shipment.
It is evidence that a valid contract of carriage exists,It is evidence that a valid contract of carriage exists,
and it may incorporate the full terms of the contractand it may incorporate the full terms of the contract
between the consignor and the carrier by reference .between the consignor and the carrier by reference .
39. Types of bills of ladingTypes of bills of lading
1. Straight Bill of Lading: This is typically used when shipping to a
customer. The "Straight Bill of Lading" is for shipping items that
have already been paid for.
2. To Order Bill of Lading: Used for shipments when payment is
not made in advance. This can be shipping to one of your
distributors or a customer on terms.
3. Clean Bill of Lading: A Clean Bill of Lading is simply a BOL that
the shipping carrier has to sign off on saying that when the
packages were loaded they were in good condition. If the
packages are damaged or the cargo is marred in some way
(rusted metal, stained paper, etc.), they will need to issue a
"Soiled Bill of Lading" or a "Foul Bill of Lading."
40. 4. Inland Bill of Lading: This allows the shipping carrier to ship
cargo, by road or rail, across domestic land, but not over
seas.
5. Stale Bill of Lading: Occasionally in cases of short-over-seas
cargo transportation, the cargo arrives to port before the Bill of
Lading. When that happens, the Bill of Lading is then "stale."
6. Through Bill of Lading: Through Bills of Lading are a little more
complex than most BOLs. It allows for the shipping carrier to
pass the cargo through several different modes of
transportation and/or several different distribution centers. This
Bill of Lading needs to include an Inland Bill of Lading and/or
an Ocean Bill of Lading depending on its final destination.
7. Multimodal/Combined Transport Bill of Lading: This is a type of
Through Bill of Lading that involves a minimum of two different
modes of transport, land or ocean. The modes of
transportation can be anything from freight boat to air.
41. ContentContent
Name of the shipping companyName of the shipping company
Shipper's nameShipper's name
Order and notify partyOrder and notify party
Description of GoodsDescription of Goods
Gross/net/tare weightGross/net/tare weight
Freight rate/Measurements and weight ofFreight rate/Measurements and weight of
goods/Total freightgoods/Total freight
42. Parties involvedParties involved
ExporterExporter
ImporterImporter
Forwarding agentForwarding agent
Insurance companyInsurance company
Shipping lineShipping line
Customs and authorise dealerCustoms and authorise dealer
43. Bills of exchangeBills of exchange
A bill of exchange or "draft" is a written order by theA bill of exchange or "draft" is a written order by the
drawer to the drawee to pay money to the payee.drawer to the drawee to pay money to the payee.
It is a negotiable financial instrument by the drawerIt is a negotiable financial instrument by the drawer
(creditor) to the drawee (debtor) to pay a certain(creditor) to the drawee (debtor) to pay a certain
amount of money at a matured date.amount of money at a matured date.
They are used primarily in international trade, andThey are used primarily in international trade, and
are written orders by one person to his bank to payare written orders by one person to his bank to pay
the bearer a specific sum on a specific date.the bearer a specific sum on a specific date.
44. Parties to Bill of ExchangeParties to Bill of Exchange
DrawerDrawer
DraweeDrawee
PayeePayee
45. Special featuresSpecial features
A Bill Of Exchange is an instrument in writingA Bill Of Exchange is an instrument in writing
It must be signed by the makerIt must be signed by the maker
It contains an unconditional orderIt contains an unconditional order
The order must be to pay money onlyThe order must be to pay money only
The sum payable must be specificThe sum payable must be specific
The amount must be paid within a stipulated timeThe amount must be paid within a stipulated time
The name of the drawee must be clearly mentionedThe name of the drawee must be clearly mentioned
It must be dated and stampedIt must be dated and stamped
46. AdvantagesAdvantages
A Bill of Exchange is used in settlement of debtsA Bill of Exchange is used in settlement of debts
It fixes the date of paymentIt fixes the date of payment
It is a written and signed acknowledgement of debtIt is a written and signed acknowledgement of debt
A debtor enjoys full period of creditA debtor enjoys full period of credit
A drawer can convert the bill into cash by getting itA drawer can convert the bill into cash by getting it
discounted with the bankdiscounted with the bank
47. Regulatory DocumentsRegulatory Documents
Freight Payment CertificateFreight Payment Certificate
Vehicle TicketVehicle Ticket
Receipt for payment of Port ChargesReceipt for payment of Port Charges
Shipping BillShipping Bill
48. Shipping billShipping bill
The Shipping Bill/ Bill of Export are the mainThe Shipping Bill/ Bill of Export are the main
document required by the Customs Authority fordocument required by the Customs Authority for
allowing shipment for all products exportedallowing shipment for all products exported
It is a document prescribed under custom act 1962It is a document prescribed under custom act 1962
for allowing shipment of cargo by customs authorityfor allowing shipment of cargo by customs authority
It is prepared by custom house agentIt is prepared by custom house agent
49. Parties involvedParties involved
ExporterExporter
ImporterImporter
Central exciseCentral excise
Forwarding agentForwarding agent
Insurance companyInsurance company
Customs departmentCustoms department
Inspection agencyInspection agency
50. Documents requiredDocuments required
GR forms (in duplicate) for shipment to all theGR forms (in duplicate) for shipment to all the
countries.countries.
Four copies of the packing list mentioning the contents,Four copies of the packing list mentioning the contents,
quantity, gross and net weight of each packagequantity, gross and net weight of each package
Four copies of invoices which contains all relevantFour copies of invoices which contains all relevant
particulars like number of packages, quantity, unit rate,particulars like number of packages, quantity, unit rate,
total f.o.b./ c.i.f. value, correct & full description oftotal f.o.b./ c.i.f. value, correct & full description of
goods.goods.
L/C, Purchase Order of the overseas buyer.L/C, Purchase Order of the overseas buyer.
AR4 (both original and duplicate) and invoice.AR4 (both original and duplicate) and invoice.
Inspection/ Examination Certificate.Inspection/ Examination Certificate.
51. ContentsContents
Name and address of exporter and consigneeName and address of exporter and consignee
Port of shipmentPort of shipment
Country of destinationCountry of destination
No.of packagesNo.of packages
Nature of contractNature of contract
Description of goodsDescription of goods
52. Types of shipping billTypes of shipping bill
Duty free goods shipping billDuty free goods shipping bill
Dutiable goods shipping billDutiable goods shipping bill
Drawback shipping billDrawback shipping bill
Entitlement of credit of duty under DEPB schemeEntitlement of credit of duty under DEPB scheme
Shipping bill for shipment of excise bondShipping bill for shipment of excise bond
53. FormatsFormats
White Shipping Bill in triplicate for export of duty free ofWhite Shipping Bill in triplicate for export of duty free of
goods.goods.
Green Shipping Bill in quadruplicate for the export ofGreen Shipping Bill in quadruplicate for the export of
goods which are under claim for duty drawbackgoods which are under claim for duty drawback
Yellow Shipping Bill in triplicate for the export ofYellow Shipping Bill in triplicate for the export of
dutiable goods,dutiable goods,
Blue Shipping Bill in 7 copies for exports under theBlue Shipping Bill in 7 copies for exports under the
DEPB schemeDEPB scheme
54. LetterLetter
of Creditof Credit
Summary of aSummary of a
contract betweencontract between
seller and buyerseller and buyer
with the bank(s)with the bank(s)
as refereeas referee..
55. Cont..….Cont..….
A letter of credit is a commercial instrument used asA letter of credit is a commercial instrument used as
a means of financing international businessa means of financing international business
transaction.transaction.
It is a contract under which a bank agrees to pay theIt is a contract under which a bank agrees to pay the
seller in connection with the export of specific goodsseller in connection with the export of specific goods
against the presentation of specified documentsagainst the presentation of specified documents
relating to those goods.relating to those goods.
The credit is issued at the request of the buyer (theThe credit is issued at the request of the buyer (the
applicant) in favour of the seller (the beneficiary)”.applicant) in favour of the seller (the beneficiary)”.
56. Parties to an L/CParties to an L/C
The buyer (the applicant).The buyer (the applicant).
The issuing bank.The issuing bank.
The advising bank (may also be the correspondent,The advising bank (may also be the correspondent,
nominated, confirming bank).nominated, confirming bank).
The seller (the beneficiaryThe seller (the beneficiary).
57. Types of L/CTypes of L/C
Revocable L/CRevocable L/C
Irrevocable L/CIrrevocable L/C
Confirmed L/CConfirmed L/C
Transferable L/CTransferable L/C
Back to back L/CBack to back L/C
Revolving L/CRevolving L/C
59. Export Inspection AgencyExport Inspection Agency
Need for inspectionNeed for inspection
Coverages and applicabilityCoverages and applicability
Procedures/DocumentationProcedures/Documentation
Validity of CertificateValidity of Certificate
Testing OrganizationTesting Organization
Bonafide SamplesBonafide Samples
60. Central Excise FormalitiesCentral Excise Formalities
BackgroundBackground
Requirement of Export ConsignmentRequirement of Export Consignment
Procedures/DocumentationProcedures/Documentation
Sanctioning authoritySanctioning authority
Parties concernedParties concerned
61. Formalities with Insurance Co.Formalities with Insurance Co.
BackgroundBackground
NecessitiesNecessities
Types of Marine InsuranceTypes of Marine Insurance
PremiumPremium
Modus OperandiModus Operandi
Types of Insurance PolicyTypes of Insurance Policy
Fundamental principles involvesFundamental principles involves
Parties involvedParties involved