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IB0-04 December, 2012 Procedures And Documentation

December, 2012

IB0-04 : Procedures And Documentation


Comment on any four  of the following statements. 

1.  (a) Documentary credit reconciles the conflicting interest of buyers and sellers in a contract.

(b)  the objective of export assistance is to neuteralise the incidence of internal taxes and import content of the export product.

(c)  Self certification system has brought about a qualitative change in the system of

preshipment inspection in India.

(d)  A diversified export business may help in reducing risks in business.

(e)  Indian Trade Promotion Organization (ITPO) helps exporters in their marketing efforts.

(f)  Foreign Exchange Management Act seeks to regulate not only payments in foreign currencies but also realisation of export proceeds.


Answer  any four quesions.

2.  What are the broad objectives of Exports' (Quality Control & Inspection) Act 1963 ?           

Briefly explain the various systems of quality control and pre-shipment inspection in India ?

3.  (a) Define Bill of Lading and explain its role in export import trade.

(b) What are the different types of bill of lading ? Explain briefly each of them.

4.  What is Electronic Data Interchange (EDI) ? Explain its significance and role in expanding international trade. What kind of strategic advantages an export house may get through EDIP Explain giving suitable illustration.           

5. Why is cargo insurance needed? Identify various kinds of perils against which insurance cover can be obtained. Explain with suitable examples.               

6.  Enumerate the various methods of financing imports. Describe the regulating firm work. Also explain the procedure unde Letter of Credit.

7.  Write short notes on any two of the following :

(a)  Export Import Bank of India

(b)  Certificate of Origin

(c)  Port procedures

(d)  Simplified Export Documents 

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