NMIMS JUNE 2020 ASSIGNMENT - EXPORT IMPORT PROCEDURES AND DOCUMENTATION CUSTOMIZED ANSWER

EXPORT IMPORT PROCEDURES AND DOCUMENTATION

1. You are working in Procurement dept of a trading organization who distributes medical equipments. Your company wants to procure surgical equipments from domestic market. You observe, with your experience that imported product will be cheaper with better quality, and recommend the same in a procurement meeting. Management advises you to give a justification for your recommendation. Will you please highlight the reasons for international trade and why it is better to import. Based on your write up management will take a decision.

2. The present Government has merged two documents into one for importing goods into India so as to reduce the number of documents. Browse the internet and inform what are these two documents merged into one document and enlist the details of information that have to be incorporated in the merged document.

3. You are negotiating with an international buyer to export your company products and the international buyer has agreed to place orders. However, your Finance dept does not want to give any credit to the importer as you do not know them personally. You have to suggest a safest mode of payment to the importer so that your company is comfortable with the transaction.

a. What are the different type of payment terms prevailing in the international market today

b. What is your option of payment term for this transaction and why