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Advance against Undrawn Balances : In some of the export business, it is the trade practice that the bills are not drawn for the full invoice value of the goods. A small part of the bills is left undrawn for payment after adjustments due to difference in weight quality, etc. Advances are granted against such undrawn balances. In this case the export proceeds must be realised within 90 days.
The advances are granted provided the undrawn balance is in conformity with the normal level of balances left undrawn subject to a maximum of 5% of the full export value. The exporters are supposed to give an undertaking that they will surrender the balance proceeds within 6 months from the date of shipment
POST-SHIPMENT FINANCE : It may be defined as "any loan or advance granted or any other credit provided by a bank to an exporter of goods from India from the date of extending the
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Deemed Exports: It refers to those transactions in which the goods supplied do not leave the country and the payment for such goods are made in India. The supply of goods shall be
Commercial Perspective : Trade between two business firms located in different countries begins with the conclusion of an export contract. Under the contract, the duty of the expo
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What are the product classification and attributes?
Question 1: "Marketing Research is a systematic and planned formal approach to the collection of marketing information." This implies that there is a formal marketing research
Purchase Discount of Foreign Bills : Purchase or discount facilities in respect of export bills drawn under confirmed export contracts are generally granted to exporters who enjoy
Risk as an Exporter : you may draw your export bills either in rupees or in foreign currencies. If you have drawn your export bills in Indian currency i.e., rupees, you will not
Responsibilities of the Insured : It is the duty of the insured or his agents, in all cases, to take such measures as may be reasonable to avert or minimise a loss. Further,
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