Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Solved Assignments
Asked Questions
Answered Questions
introduction in the previous we learn the importance and the role of experts in a developing country like india as well as the policy framework in
after studying this unit you should be able to i describe the reasons for documentation in export trade1 explain functions of different kinds of
methods of dispute settlement there are many reasons due to which a dispute may arise between an exporter and an i importer a common cause for
frustration of contracts there can be several factors beyond the control of the parties to a contract which makes the performance of contractual
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
general conditions in export contracts export contract refers to the subject matter of the contract in addition the contracts also mention the
rights and duties under principal incoterms you have learnt various incoterms let us now discuss in brief the provisions for the two major terms viz
international contract terms since in international transactions traders are from diverse nations specific term should be interpreted in a similar
distinction between domestic sales contract and export sales contract a major point of distinction between a domestic and export contract lies in
form of contract there are no universally acceptable norms as to the form of export contracts it need not be a formal document signed by both the
nature of export sales contract contract is a legal concept it has been defined in the section 2h of the indian contract act the other party without
introduction exports and imports are carried out by traders who are residents of different countries goods have to cross national frontiers and
objectivesafter studying this unit you should be able to1 explain the nature of export sales contract2 distinguish between domestic sales
duty exemption scheme the duty exemption scheme consists of duty free licence and duty entitlement pass bookduty free licence includes advance
export promotion capital goods scheme capital goods both new and second hand may be imported under the export promotion capital goods epcg scheme the
imports you have learnt the provisions related to export at length as you know import plays an important role in the economic development of the
deemed exports it refers to those transactions in which the goods supplied do not leave the country and the payment for such goods are made in india
export of repaired goods goods or parts thereof on being exported and found defective damaged or otherwise unfit for use may be imported for repair
export of imported goods goods imported may be exported in the same or substantially the same form without a licence provided they are not under the
export of passenger baggage bonafide personal baggage may be exported along with the passenger it may also be exported within one year before or
export of spares warranty spares whether indigenous or imported of plant equipment machinery automobiles or any other goods may be exported upto 75
export of gifts goods including edible items of value not exceeding rs 15000 in a licensing year may be exported as a gift however items in the
realisation of export proceeds if an exporter does not realise the export proceeds within the time specified by the reserve bank of india he shall be
denomination of export contracts all export contracts and invoices shall be denominated in freely convertible currency and export proceeds shall be
free exports all goods may be exported without any restriction except to the extent such exports are regulated by the negative list of exports or any