Requirements of Import Documents

Q.

Write the difference between ascertained and unascertained goods.

Q.

What are the different documents related to payment?

Q.

What is IEC number?

Q.

How a clearing agent help the importer ?

Q.

What is the full form of CIF?

Q. If goods are under licensing category, then the importer must apply and get registered with and obtain IEC number.

1. DGFT
2. COO
3. IEC

Q.

Bill of exchange is a document for payment to be received from the exporter.

1. True

2. False

Q.

What is a bill of exchange used for?

Q.

The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is

(a) Letter of hypothetication

(b) Letter of credit

(c) Bill of lading

(d) Bill of exchange

Q. Which of the following are the main steps involved in import procedures?

1. Custom Clearance
2. Letter of Credit
3. Trade Equiry
4. Import License
5. Indent
6. Salary
7. Documents
8. Secuirty

Q.

How do you prepare a bill of exchange?

Q. State with reasons whether the following statements are True or False.

Advance License Scheme is a duty exemption scheme.