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Export Declaration : 'Every exporter must make a true declaration in the prescribed form. The declaration is mandatory and includes:
i) The full export value of the goods; or
ii) If the full export value of the goods is not ascertainable at the time of export, the value which the exporter, having regard to the prevailing market conditions, expects to receive on the sale of goods in the overseas market.
The declaration should be supported by an affirmation by the exporters to realise the required export proceeds. Exporter's affirmation has been made. mandatory that the full export value declared is the same as contracted with the foreign importer. Any other invoicing or over invoicing may attract penal provisions under the FERA act.
Standard Policies The ECGC has designed four types of Standard Policies to provide cover for shipment made on short-term credit. i) Shipments (Comprehensive Risks) Policy
Risk as an Importer : The position is entirely opposite of what it is for the exporter. If the importer is billed in rupees, he does not stand to loss at all whether the foreign
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