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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
INTERNATIONAL CONTRACT TERMS: Since in international transactions, traders are from diverse nations, specific term should be interpreted in a similar way by all the parties concer
Describe the Meaning of Research Research in common man's language refers to "search for knowledge". Research is basically the process of finding solution to a problem after
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 t
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 th
Actual Total Loss (ATL): An actual total loss may occur in three ways. Firstly when the, insured cargo is physically destroyed when fire in the hold of the ship destroys complet
ORGANISATION COVERING CREDIT RISK : There are 40 organization providing cover for credit risk, the worldover. They are all member of union International Union of credit and Invest
FOREIGN EXCHANGE : Foreign exchange, as defined under Foreign Exchange Regulation Act. 1973 is foreign currency and includes: i) All deposits credit and balance payable in fore
Advance Licence: An advance licence is granted to a merchant exporter or manufacturer exporter for the import of inputs required for the manufacture of goods without payment of ba
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
Q. How clear are indications of quality? The amount of effort a consumer puts into searching depends on a number of factors such as the market (how numerous competitors are t
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