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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
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Export under Claim for Rebate of Duty on Excisable Materials used in the Manufacture of Export Goods (Rule 12 (1) (B)) Under Central Excise Rule 12(1)(B) rebate has been gran
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
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NATURE OF EXPORT SALES CONTRACT: Contract is a legal concept. It has been defined in the Section 2(h) of the Indian Contract Act, the other party without any qualification. This p
PROCEDURE FOR MAKING A CLAIM : A claim will arise when any of the risks insured under the policy materialises. If an overseas buyer goes insolvent, the exporter becomes eligible f
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Export Trade Control : Exports may be made freely except to the extent they are regulated by the provisions of Import-Export policy, 1997-2002 or any other law for the time being
Q. Prepare a Note for information of the Board of Directors on the reasons for declining sales of your Company's products for the quarter ending March 31, 2003? Ans. A p
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