ST. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS) |
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| END SEMESTER EXAMINATION – MARCH/APRIL 2016 | ||||
| MCom (I.B) – ii semester | ||||
| P4 15 MC 202: IMPEX PROCEDURES AND DOCUMENTATION | ||||
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Duration: 3 Hours Max. Marks: 100
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| SECTION – A | ||||
| I) | Answer any SEVEN questions. Each carries 5 marks. (7×5=35) | |||
| 1. | Discuss the objectives and important services of EXIM Bank in India. | |||
| 2. | Differentiate between FOB Contract and CIF Contract in exporting. | |||
| 3. | Explain the excise clearance requirements and procedures for exportable goods. | |||
| 4. | Explain the types of financial guarantees provided by ECGC in India. | |||
| 5. | An exporter is required to register his organisation with a number of institutions and authorities – Explain the formalities. | |||
| 6. | Define Bill of Lading and explain its purpose and types. | |||
| 7. | Explain Aligned Documentation System and how the export documents are classified under this system. Give three examples of each. | |||
| 8. | Explain the 3 methods of Quality Control and Pre-shipment Inspection. | |||
| 9. | Discuss the meaning and scope of Marine Insurance in export business. | |||
| 10. | Discuss the essential and desirable services expected by exporters from
C & F Agents. |
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| SECTION – B | ||||
| II) | Answer any THREE questions. Each carries 15 marks. (3×15=45) | |||
| 11. | Elaborate the meaning, parties involved and types of Letter of Credit used in export. | |||
| 12. | Export procedure consists of several commercial and regulatory formalities which the exporter is required to complete during the course of export trade. Explain the procedures at various stages. | |||
| 13. | Discuss the institutional framework available in India for export finance and their roles. | |||
| 14. | Discuss the incentives and assistance provided to exporters by the Govt in India. | |||
| 15. | Write short notes on any 3 (Three) of the following. (5marks each)
a) Export Promotion Councils b) Certificate of Origin c) Duty draw back scheme d) Special Economic Zones e) EPCG Scheme
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| SECTION – C | ||||
| III) | Case Study -Compulsory question. (1×20=20) | |||
| 16. | KARUN Mills is exporting a big consignment of textiles from Mumbai Port in Maharashtra to Shanghai Port, China. The registered office of the company is at 739, Sabarmathi Road, Baroda, Gujarat, India.
From Baroda, the goods are to be received and transported by road in trucks to Mumbai Port by the C&F Agent, VRL Logistics Agencies. Shipping space has been booked on the ship M.V 55001- Seven Stars. The company has not used any imported items in the products to be exported or in manufacture. The consignment has to be sent as per the order received from Fashion Garments, 708, Jade Market, China, vide Order No: 98888- 42222, dated 20th March 2015. The export contract stipulates the importer opening an Irrevocable Documentary L/C for the full chargeable value under the CIF contract. Details of Cargo: 1. Arvind Mills’ IEC Ref.No : GOI 235544221BGK 2. Trade mark/brand : KARUN 3. Container No : SPSSP 3001122 4. Packing List : 600 packages – thick card board 5. Description of goods : Assorted textiles/ 42,000 numbers 6. Rate : US$ 1000 / package 7. Amount : US$ 6,00,000 8. Marine Insurance Premium paid: US$ 30.000 9. Ocean freight paid : US$ 50,000 10. Certificate of Origin : Made in India Questions: a. Prepare a Commercial Invoice based on the details provided in the case, using the blank form given. b. In the case of documentary L/C, what are the documents to be enclosed by KARUN Mills to receive payment? Explain each document briefly.
(10+10) ************************ |
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