The document discusses international trade, defined as trade between countries involving the purchase and sale of goods and services. It highlights the complexities of foreign trade, including the need for various documents, currency differences, and higher transportation costs, compared to simpler home trade conducted within a country. Additionally, it outlines the procedures for importing and exporting goods, emphasizing the significance of licensing, documentation, and compliance with regulations.

1. Meaning, importance, feature
And procedure.

2.  international trade is also known as a
foreign trade. Foreign trade means a trade
between two or more country.
 when the goods and service is purchase and
sale in other country, it is called as an
international trade.

3.  merchandise exports and imports
 service imports and exports
 licensing and franchising
 foreign investment

4.  political and legal differences.
 economic environment
 difference in currency
 difference in language
 distances
 several documents

5.  improve standard of living
 increase in real income
 lower price
 technological development
 rapid industrialization
 help in natural calamities

6. Basic knowledge
Application for
import of
restricted items
Exchange control
Importer’s
registration
Obtaining
licensing
Retirement of
import
document
Import follow up
Custom
formalities for
clearance of
imported goods

7. Preliminary Licensing
Registration with
export promotion
councils
Negotiation of
export documents
Advance paymentExport finance
Quality control
and pre-shipment
inspection
Packing , marking
and labeling
Excise clearance
for export
Marine insurance
Shipment of
goods
Claim for duty
drawback

8. Foreign trade Home trade
1. conducted between
nationals of different
country.
2. their proportion is very
small. 5-6%
3. there are as many
different currencies as
there are many different
countries. Here problem
of foreign currency arise
out.
4. foreign trade is more
complicated.
5. many documents and large
amount of the paper
work required.
1. conducted between
person living in the
same country.
2.their proportion is very
large. 95%
3. here, problem of foreign
currencies does not
arise out as trade
occurred in the home
country.
4. home trade is less
complicated.
5. number of documents and
small amount of
paperwork required.

9. Foreign trade Home trade
6. Small scope for the
operation of law.
7. Cost of transportation
is very high.
8. Long time interval.
9. Greater degree of risk.
10. Payment by bill of
exchange and letter of
credit.
11. There is a keen
competition.
12. Mode of transport are
air and sea.
6. Larger scope for the
operation of law.
7. Transportation cost is
very low.
8. Short time interval.
9. Lesser degree of risk.
10. Payments by cash and
cheque.
11. Less competition.
12. Mode of transport are
roadways and railways.

10.  commercial invoice
 consular invoice
 certificate of origin
 bill of lading
 shipping bill
 mate’s receipt
 bill of entry
 letter of credit
 manufacturer’s certificate
 certificate of inspection
 packing list
 export declaration forms
 shipping order
 shippers’ declaration form