MINI PROJECT RESEARCH TOPIC: “A STUDY ON EXPORT-IMPORT OF WELSPUN CORP LTD” INTRODUCTION: Brief Introduction about EXIM Import export act was introduced by government during Second World War and it lasted for around 45 yrs and in June 1992 this act was superseded by the Foreign Trade (Development & Regulation Act), 1992. The basic objective of this new act was to give effect to the new liberalized export and import policy of the Govt. till 1985 annual policies were made but from 1985-92, three yr policy was made and then 5 yr policy was made coinciding with 5 yr plans 1992-97, 1997-02, 2002-07. What is Import? A good or service brought into one country from another Along with exports, imports form the backbone of international trade. The higher the value of imports entering a country, …show more content…
The documents include bill of exchange, a copy of bill of lading, certificate of origin, commercial invoice, packing list, and other relevant documents. The importer makes payment to the bank and collects the documents. Step 8: Bill of Entry: This is a documents required in case of import of goods. It is like shipping bill in case of exports. A bill of Entry is the document testifying the fact that goods of the stated value and description in specified quantity are entering into the country from abroad. The customs office supplies this foam which is prepared in triplicate. Three different colors are used to prepare bill of entry. One copy is retains by custom department, other is retained by port trust and the third is kept by the importer. Step 9: Delivery Order: The clearing agents obtain the delivery order from the office of shipping company. The shipping company gives the delivery order only after the payment of freight Step10: Clearing of goods: The clearing agent pays the necessary dock or port trust dues and obtains the port Trust receipt in two
Office of Industries, U.S. International Trade Commission.(2009).Export controls: an overview of their use, economic effects, and treatment in the global trading system. Retrieved from United States International Trade Commission http://www.usitc.gov/publications/332/working_papers/ID-23.pdf
(ARE) Profile of Exports, Imports and Trade Partners. Creative Commons Attribution-ShareAlike 3.0 Unported License, n.d. Web. 13 May 2014.
Tauroa, H., & Tauroa, P. (1986). Te marae; A guide to customs & protocol. Auckland, NZ: Reed Books.
Exporting is the commercial activity of selling and shipping a good or goods to a foreign country. Importing is the commercial activity of buying and bringing in goods from a foreign country. The benefits of exporting and importing are good to a countries economy as it creates local jobs. The Honda plant in Alliston exports the Honda Civic (a three door hatchback and four-door sedan) as well it is the only facility in the world that builds the full-size Odyssey minivan and the Acura MDX sport utility vehicle.
The term export can be defined as a means of shipping goods and services from a countries port also known as selling goods from ones country to other countries or other markets overseas. Export strategy is a way in a company sets its rule of operation in the export business helping it to achieve the objectives set. With an export strategy a company will be able to will clearly define its raw materials, finances and the personnel to help it achieve its goals. It helps a company to provide quality services to the customers both new and old helping also to deal with service providers. The company will emerge as well organized one with clear goals and strategies to attain the goals. (Foley, J. F. 2004:22).
U.S. Customs and Boarder Protection [CBP]. (2013). Importing into the United States: A guide for commercial importers. Washington, D.C.: CBP Publication No. 0000-0504.
This sector represents the trade that a country engages in with another country. If, for example, Australia purchases electronic equipment from China, it is called an import, ...
Private persons, big and small businesses at a point would have to either send or receive parcels, shipment, among other things. This cannot be done without the help of cargo companies, which are highly involved in the process of transportation of goods and services from one point to the other, but in short and long distances. And the demand to have this parcel and shipment delivered in a faster and more secured way , has brought about a high competition among several companies in the world , and they all have adopted both similar and also different measures to tackle the issues they deal with in the delivering order and tracking issues.
In the early 21st century, nations are more closely linked than ever before through trade in goods and services, flow of money, and investment in each other’s economies, and the global economy created by these linkages in each turbulent place. International trade is considered to be one of the keys factors of macroeconomics prosperity. The increase of international trade has been as a result of globalisation process, thus international trade seems to become more complicated over the years (Surugiu and Surugiu, 2015). For example, countries globally usually trade in different kind of goods and services, but nowadays they become to trade in similar products, so-called intra-industry trade. This intra-industry trade seems to be different from comparative advantage theory. For this reason, this essay will compare
The Act provides that every “bill of lading” shall effect subject to the Act’s provisions given that there is an evidence of a contract of carriage of goods by the sea from the US to other places in foreign trade. Under the Act, the carrier must ensure the proper and careful loading, handling, stowing, carrying, keeping, caring, and the discharge of the goods carried. Every personnel related to the delivery, from the carrier’s master, crew, stevedores, and agents are all liable for the negligent acts.
They are widely used in international commercial transactions or procurement processes as the use in international sales is encouraged by trade councils, courts as well asinternational lawyers. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods. Incoterms inform sales contract defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer. However, it does not constitute contract or govern law. Also, it does not define where titles transfer and does not address the price payable, currency or credit
Foreign Customs: Since foreign customs regulations vary widely with each country, travelers are advised to learn in advance the regulations that apply to each country that will be visited. If allowances for cigarettes, liquor, currency, and certain other items, are not taken into account, they can be impounded at national borders. Business travelers that plan to carry product samples with them may be required to pay import duties. In some countries, duties and extensive customs procedures on sample products may be avoided by obtaining an ATA Carnet.
and the room key should be provided. The documents are then transferred manually to the filling
And also it makes a good relationship between two countries. I know about the culture and people of other countries and also about that demand their desire. And just because of this people demand every businesses wants to supply their products and services to the other countries. I also know about that through this assignment most of the countries members of different free trade agreement. Trading blocs is group of countries within geographical region that protect themselves from imports from non-members. So that one is the most important knowledge I got through this assignment which helps me in my future to do something new.
The country has also attempted to liberalize its trade regime over the years reducing the tariff barriers and replacing the NTB’s with tariff protection, in order to contain the anti-export bias.