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    International Business - II
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    The advantage/s of international business is/are :
    • Maximum exploitation of natural resources
    •  International cooperation
    • High standard of living
    • All the above

    D.

    All the above
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    Define Indent.
    When the importer places an order to import the goods, he places an order for the goods to be despatched. This order is known as ‘indent’ containing description of the goods ordered, prices to be paid, delivery terms, packing and marking details and delivery instructions.
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    Which is the first step in export procedure ?
    • Obtaining export licence
    • Receipt of enquiry and sending quotations
    • Obtaining mate's receipt
    •  Insurance of goods

    B.

    Receipt of enquiry and sending quotations
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    The government has given a number of incentives for the promotion of foreign trade. How they help in the encouragement of foreign trade ?
    The different incentives given by government permit the exporters either to make out rightly duty free imports of raw materials and machinery as needed for producing goods and services for exports or to later claim refund of duties, if already paid, on such imports.
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    Write in brief the steps of export procedure.

    Following steps are taken to export goods from one country to another :

    1. Receipt of enquiry and sending quotations.

    2. Receipt or order of indent.

    3. Assessing importer’s credit-worthiness.

    4. Obtaining export license.

    5. Obtaining pre-shipment finance.

    6. Production or procurement of goods.

    7. Pre-shipment inspection.

    8. Excise clearance.

    9. Obtaining certificate of origin.

    10. Reservation of shipping space.

    11. Packing and forwarding.

    12. Insurance of goods.

    13. Customs clearance.

    14. Obtaining mates receipt.

    15. Payment of freight and issuance of bill of lading.

    16. Securing payment.

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