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NATURE OF EXPORT SALES CONTRACT: Contract is a legal concept. It has been defined in the Section 2(h) of the Indian Contract Act, the other party without any qualification. This process of contract formation is valid all over the world.
Though the offer-acceptance sequence appears logical and simple, sometimes complexities can arise. Let us consider a common situation in export business. An exporter sends his offer in a preformed commercial invoice along with his standard conditions of sales. The importer' accepts the offer but refers to his own standard conditions of purchase. Since these two sets of conditions are different no contract is formed. Importer acceptance will not be considered legally as acceptance but only as a counter-offer. If the exporter in turn confirms his acceptance without referring again to his standard conditions, a contract is formed.
Export Licensing: As you know that all goods may be exported without any restriction except to the extent such exports are regulated by the Negative List of exports. The Negative
SPECIAL CONTRACTS : You have learnt that the applicable law can be the law of either party or that of a third party. It will be the Indian Contracts Act, if Indian law will apply.
OBJECTIVES After studying this unit, you should be able to: 1. Explain the meaning of exchange rate; 2. Describe various types of exchange risk; 3. Discuss the meas
Assess the current strategy: 1. Does the current strategy strengthen the feedback processes driving growth? Yes, the current strategy strengthens some of the feedback pro
Explain a production procesq
CUSTOMS CLEARANCE FORMALITIES : 'Under Section 40 of the Indian Customs Act, an overseas carrier cannot permit loading of goods without permission from the customs authorities. Th
Importer-Exporter Code Numbe r: No export or import shall be made by any person without an Importer-Exporter Code (IEC) number unless specifically exempted. An application for gran
This is caused when the information gathered is different from the information sought. For example respondents are asked to indicate whether they own a color television set,. Some
This enable the decision maker to select the most appropriate course of action. This needs more care and efforts. If validates or verifies the expected outcomes of each hyp
Once the buyer has recognised a problem they search for information on products and services that can solve that problem. Belch and Belch (2007) describe that consumers undertake b
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