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Export Declaration : 'Every exporter must make a true declaration in the prescribed form. The declaration is mandatory and includes:
i) The full export value of the goods; or
ii) If the full export value of the goods is not ascertainable at the time of export, the value which the exporter, having regard to the prevailing market conditions, expects to receive on the sale of goods in the overseas market.
The declaration should be supported by an affirmation by the exporters to realise the required export proceeds. Exporter's affirmation has been made. mandatory that the full export value declared is the same as contracted with the foreign importer. Any other invoicing or over invoicing may attract penal provisions under the FERA act.
Commercial Dimension : From the point of view of an exporter, a transaction is complete as soon as the importer either pays for the bill of exchange on its presentation or he unde
Purchase Discount of Foreign Bills : Purchase or discount facilities in respect of export bills drawn under confirmed export contracts are generally granted to exporters who enjoy
Q. Buying centre concept? Applying the buying centre concept The decision-making unit in a purchasing organisation consists of the buying centre. This is invented of the dec
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RECENT DEVELOPMENTS IN EXPORT FINANCING: As stated earlier, offer of attractive credit terms is a crucial factor in winning export contracts. Hence, financial institutions are off
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Marine Insurance Contract : Article 3 of the Indian Marine Insurance Act, 1963 defines marine insurance contract as "It is an agreement whereby the insurer undertakes to indemnify
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