DIBM304 EXPORT-IMPORT MANAGEMENT

Description

SESSION	May- 2024
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	3
course CODE & NAME	DIBM-304 – Export-Import Management
CREDITS	04

 

Assignment Set – 1^ST

Questions

 

1. What do you mean by “International Business”? Explain the steps for establishing an Export-Import Firm and any Packaging Techniques for Export Consignments.

ANS:

“International Business” refers to commercial activities that involve transactions of goods, services, or resources between two or more countries. It typically involves importing goods or services from one country into another (importing) and exporting goods or services from one country to another (exporting).

Steps for Establishing an Export-

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2. Write a note on “Documentation” under Import Policy. Also, explain the “Bill of Entry” and any 2 types of Tariffs regarding Imports.

ANS: Documentation under Import Policy: Documentation plays a critical role in import policies as it ensures compliance with regulations, facilitates smooth customs clearance, and enables accurate assessment of duties and taxes.

Here are key aspects of

 

3. What do you understand by Export Documentation? Introduce ECGC and Explain its functions in Detail.

ANS: Export Documentation: Export documentation refers to the paperwork and formalities required by exporters to facilitate the smooth and legal movement of goods from one country to another. Proper documentation is essential for compliance with international trade regulations, customs clearance, and payment processing.

Key documents involved in export documentation typically include:  Export Invoice: Similar to an import invoice, it

 

 

 

Assignment Set – 2^ND

Questions

 

4. Discuss the components of an EDI System. Also throw light on Business uses of EDI.

ANS: Components of an EDI System:

Electronic Data Interchange (EDI) systems facilitate the electronic exchange of business documents between trading partners in a standardized format.

 A typical EDI system comprises several key components: 

Translator:  The translator converts business documents from the internal format of the sender’s system (e.g., purchase

 

5. Explain the Transit Risk Insurance, Credit Risk and the Exchange Fluctuation Risk. Comment on the solution to these risks faced by the Importer and Exporter.

ANS: Transit Risk Insurance: Transit risk insurance, also known as marine cargo insurance or transit insurance, covers the risks associated with the transportation of goods from one location to another. These risks include damage, loss, theft, or destruction of goods during transit via sea, air, road, or rail. The insurance typically covers both imports and exports and can be tailored to specific

 

6. Distinguish between
7. The Custom Clearance of Import and Export Cargo.
8. Pre-Shipment Finance and Post-Shipment Finance.

ANS:

1. Custom Clearance of Import and Export Cargo:

Custom Clearance of Import Cargo: 

Definition: Custom clearance of import cargo refers to the process of complying with customs formalities and regulations for goods entering a country.

Procedure: Importers or their customs brokers submit necessary documentation (such as import declarations, invoices, and packing lists) to customs authorities. Customs officials verify the documents, assess applicable duties and taxes, and inspect the goods to ensure compliance with import regulations.

Importance: Proper custom