Export Trade

Question 1

Define export trade.

Answer 1

If the goods and services are sold to the trader of another country then it is called export trade.
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Ans.

Question 2

State the methods of selling goods in foreign countries,

Answer 2

(i) Advertisement
(ii) Personal visit
(iii) Travelling agents
(iv) Foreign agencies
(v) Permanent branch
PRINCIPLES OF COMMERCE
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AnS.

Question 3

State the procedure or steps of exporting goods.
(i)
(il)
Obtaining and acceptance of indent
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Registration and import license.
Procuring the goods
(v) Preparation of documents (V)
Packing and shipment
Insurance of goods (vii) Dispatching the documents (viii) Securing payment

Question 4

What is meant by indent.
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ANS.

Answer 4

Indent contains the feature of both inguiry and order letter. The importer sends an indent to exporter. Indent contains information like quantity and quality of goods, date of delivery, method of packing etc.

Question 5

Explain the types of an indent.
AnS.

Answer 5

There are two types of an indent: (i)
Open Indent:
If the exporter is made responsible for deciding the quality and price of goods, alongwith other factors then it is called open indent.
(ii)
Closed Indent:
If the price and quality of goods alongwith other factors are decided before the execution of order then it is called closed indent.
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Question 6

Which documents are prepared by the exporter after the settlement of affairs.

Answer 6

When all the matters have been settled between importer and exporter then latter prepares following documents for selling goods:
(i) Invoice (ii) Consular invoice (iii) Certificate of origin