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Summer-2013 Master of Business Administration- MBA Semester 4 IB0013Export Import management-4 Credits (Book ID: 1201) Assignment (60 Marks) Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60 Q1. When you establish an export firm, there are various regulations which have to be followed. List the steps in establishment of an export import firm. Explain the procedure for allotment of IEC number. Answer. In continuation to our first installment which covered how to start and map out an import/export business, here we provide the sales and distribution aspects of establishing an import/export business. Price the product. The business model for an import/export business is based on two critical elements within the international sales operation. 1. Volume (number of units sold). 2. Commission on that volume.

Q2. Export documentation is very important aspect of export activity both for flow of goods and payment. List the principal and auxiliary export documents. Explain any one document from these in detail. Answer. Principal export Documents:-

1. Export documents: Presented at the port of exit, includes the names and addresses of the principals involved the destination of the goods a full description of the goods and their declared value. 2. Consular Invoice or Certificate of Origin: Some countries consular invoices obtained from the countrys consulate and returned with two to eight copies in the language of the country along with copies of other required documents (e.g. import licenses, commercial invoice and

Q3. The export goods have to travel a long distance before they reach importer. What are the various kinds of cargo risks during transit of goods and how it can be covered? Answer. These risks are explained more fully below:1. Transport Risk For a better transport risk management, an importer must ensure that the goods supplied by the exporter is insured. Whether the goods are transported by Sea or by Air, the risk can be covered by Insurance. It is always advisable to set out the agreement between the parties as to the type of cover to be obtained in the Contract of Sale.

Q4. List the functions and explain the various risks covered under Export Credit Guarantee Corporation. Answer. The Export Credit and Guarantee Corporation were set up as a Government undertaking in 1964 on the recommendation of a study group on export finance. It works on no profit no loss basis. The main functions of the corporation are to provide insurance to export risks and to finance exports. E.C.G.C. helps exporters by furnishing guarantees to the financial banks in order to enable them to provide sufficient credit facilities.

Q5. The goods must be cleared by Customs authority of the country for export and import. Explain the meaning of shipping bill. What are the steps involved in custom clearance of shipment of goods by sea. Answer. Shipping bill Customs document used where drawback is claimed, such as on goods exported or on dutiable goods transshipped or re-exported from a bonded warehouse. It serves basically as a statistical

record. A bill of materials is a list that specifies the parts used to build a product. When a company produces a product, it must keep track of the materials and components used in its creation. This bill of materials must be included with the product before shipping Q6. What do you mean by pre-shipment finance? Enumerate the RBI guidelines regarding pre-shipment finance. Answer. Pre-shipment is also referred as packing credit. It is working capital finance provided by commercial banks to the exporter prior to shipment of goods. The finance required to meet various expenses before shipment of goods is called pre-shipment finance or packing credit. Financial assistance extended to the exporter from the date of receipt of the export order till the date of shipment is known as pre-shipment credit. Such finance is extended to an

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