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Advance against Incentives : When the value of the materials to be procured for export is more than FOB value of the contract, the exporters may get packing credit advance more than the FOB value of the goods. The excess of cost of production over the FOB value of the contract represents incentives receivables. For example, when the domestic price of goods exceeds the value of export orders, the difference represents Duty drawback entitlement. Banks can grant advances against duty drawback at pre-shipment stage subject to the condition that the loan is covered by Export Production Finance Guarantee of Export Credit Guarantee Corporation (ECGC). This guarantee enables banks to sanction advances at the pre-shipment stage to the full extent of cost of production. The extent of cover and the premium are the same as for packing credit guarantee.
Q. Define the Classical conditioning? Pavlov's near the beginning work on dogs was known as classical conditioning . Pavlov exposed that when dogs were fed meat powder they sa
FRUSTRATION OF CONTRACTS : There can be several factors beyond the control of the parties to a contract which makes the performance of contractual obligations impossible. Example
Strike Perils : In marine insurance, strike perils mean events which lead to loss or damage to cargo caused by: i) Strikes, lock-out workmen or persons taking part in labour di
A review of 100 opera patrons was conducted. Respondents were asked how often they attended the symphony in a neighbouring city. The frequency of attendance was partitioned into
CENTRAL EXCISE FORMALITIES : It is a common practice all over the world that the exports are not to bear the burden of indirect taxes. Export goods are either exempted from such t
Q. Several factors of cultures to adopt new products? Cultures are likely to adopt new products more quickly than others based on several factors: Modernity : The degree to
Open Policy : Also known as Floating Policy, it has much in a common with the Open Cover. This policy benefits clients with substantial turnover and a large number of despatches
GENERAL CONDITIONS IN EXPORT CONTRACTS : Export contract refers to the subject matter of the contract. In addition, the contracts also mention the rights of the party concerned ag
State the Nature of Research The nature of research are as below:- (1) Objective & Logical: - Research strives to be logical and objective, applying each possible test
DUTY DRAWBACK SCHEME: The scheme of Duty Drawback is governed by the 'Customs and Central Excise Duties Drawback Rules' compiled and notified by 'Drawback Directorate' of the Depa
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