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Published on: 15/10/2019
Export and Import Procedures
Download Tamil Nadu 11th Standard Commerce question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.
Questions + Answers key
Take MCQ Commerce Test1.
Write a note on fulfilment of customs formalities by forwarding agent.
2.
What are Intermediaries in import trade?
3.
Enumerate the objectives of export trade.
4.
What are the import documents?
5.
What are the contents of Bill Lading?
6.
7.
What is meant by Mate’s receipt?
8.
9.
What is meaning of consular invoice?
10.
What are the contents of Indents? (any 3)
1.
Fulfilment of customs formalities by forwarding agent are:
(i) Taking the Delivery of Goods at Port Town
(ii) Obtaining Shipping Order.
(iii) Charter Party
2.
Intermediaries in import trade are:
(i) Indent houses/Import agent:
This intermediary is specialized in a particular trade. He charges fees for his service. Importer has to enter into contract with indent house to avail himself of his service. Services rendered by Indent houses/Import agent: The services rendered include the following.
(a) Helping the importer get orders from foreign countries.
(b) Providing information about the availability of goods of various types and arranging credit facilities to importer.
(c) Maintaining regular contact with the exporter and obtaining sample and transmitting it to the importer.
(ii) Clearing agent:
Clearing Agent is specialised in clearing the goods from the port of discharge destination and transport it over to the importer. They fulfill the various custom formalities on behalf of the importer and get the goods cleared from the port. They charge commission for their service.
3.
The important objectives of the export trade are :
(i) Facilitating selling of goods to countries which desperately need such goods.
(ii) Expanding the market for goods by producing them on a large scale.
(iii) Earning foreign exchange through exports.
(iv) Helping a country increase the national income.
(v) Creating employment opportunity in a country by promoting of export - oriented and export related enterprises.
(vi) Generating revenue for the Government in the form of customs and excise duties.
(vii) Promoting mutual understanding and co-operation among the nations.
(viii) Achieving optimum utilization of resources by large scale production of goods
4.
The import documents are:
(i) Import License
(ii) Indent
(iii) Letter of Credit
(iv) Bill of Entry
(v) Bill of sight
(vi) Port Trust Dues Receipt
(vii) Bill of Lading
(viii) Bill of Exchange
(ix) Advice Note
5.
Bill of Lading:
This represents a document acknowledging receipt of goods on board for carrying them over to specified port of destination.
The contents of the Bill Lading are:
(i) Name of the ship
(ii) Date of shipment
(iii) Place of Boarding
(iv) Port of destination
(v) Name address of exporter
(vi) Name and address of importer
(vii) Description of Goods
(viii) Number of package
(ix) Distinctive mark on good
(x) Amount of freight
6.
7.
(i) Mate's receipt is the document issued by the captain of the ship acknowledging the receipt of goods on board by him to the port of specified destination.
(ii) This contains details like quantity of goods shipped, number of packages, conditions for packing, etc.
8.
9.
(i) Where the customs duties are charged on the basis of value of goods at import's port (ad-valorem basis) the customs officers are empowered to open the consignment to calculate duties.
(ii) In order to avoid this problem, exporter obtains consular invoice and sends it over to the importer.
(iii) This document is signed by the consul of importers country stationed in exporter's country.
(iv) They simply accept the invoice as true statement of the content of the Consignment.
10.
Content of an Indent:
(i) Quantity of Goods sent
(ii) Design of Goods
(iii) Price
(iv) Nature of Packing Shipment
(v) Mode of Shipment
(vi) Period of Delivery
(vii) Mode of Payment.
11th Standard Syllabus & Materials
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Tamilnadu Stateboard 11th Standard Subjects

Maths

Commerce

Economics

Biology

Business Maths and Statistics

Accountancy

Computer Science

Physics

Chemistry

Maths

Biology

Economics

Physics

Chemistry

History

Business Maths and Statistics

Computer Science

Accountancy

Computer Applications

History

Computer Technology

Commerce

Computer Applications

Computer Technology

Tamil

English

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Tamilnadu Stateboard Standards