OCM 2 Marks Each

• Shipping company issues a written order to captain of a ship to accept the goods mentioned in the order. In this order size, weight. date of dispach, price etc. are shown.

• When goods is exported in bulk, the exporter hires the entire ship and for that he make agreement with shipping company. It is known as 'Charter Party Agreement'.

A receipt issued by the ‘mate’ i.e. captain of the ship or his representative certifying that the goods are loaded on the ship and are packed well to transport is called mate’s receipt.

• In foreign trade as per agreement, different countries give concession in paying import duty.
• To obtain this concession, the products is made in which country is important. It requires certificate pertaining to country where it is manufactured. This certificate is obtained from Chamber of Commerce, or Government.

• The ambassador of the importers country is in the exporter's country. When the goods of exporter reaches the country of the importer then the ambassador of his own country issues a certificate which is known as consular invoice which contains the details of the quantity of goods, price etc.,
• On the basis of which, importer country recovers custom duty.

• Bill of lading is a receipt given by shipping company to the exporter. It shows that goods to be transported to the importer are received from the exporter.
• The exporter endorse his goods in favor of the importer. In this document name of the exporter, quantity of goods, packing, marking, name and address of the importer, details of the ship, name of the captain of the ship, conditions etc. are shown.

• Due to World Trade Organization there is possibility of increase in agriculture produce, and in the production of other health related products.
• Besides all this, foreign universities have got chance to enter education center in India.

• When the goods is placed in the ship the captain or his representative checks the packing of goods. If they do not find the packing proper, they make note in the receipt "goods not proper for transportation".
• The receipt bearing this note is called "Foul Receipt" or 'Dirty Chit'. Shipping company is not responsible for any damage to goods during transportation of such goods.

• Carting order is given to the exporter when he has paid all "expanses related to export port, ' such as transportation of goods, expense of placing goods on ship, as mentioned in shipping bill. Carting order is given when the exporter has paid excise.

• The packing in international trade should be of international standard. It should be strong.
• It should be such as the goods do not get damage by moisture. The packing should be as per the instruction given by the importer.
• There should be important making regarding the goods.

• The exporter receives order from the importer.
• The order includes details such as the detail of goods, its quantity, price as fixed, form of packing, date of dispatch of goods, details of insurance, mode of transportation, amount of bill, mode of payment, and conditions etc.

• The importer has to obtain import license to import products which are not included in government list. He has to apply to the import directorate.
• He has to mention his name, address, complete detail of goods, economic condition, the country from which the product is to be imported etc. If the officer finds the details satisfactory then import license is issued.

• In Export Processing Zone, government provides information regarding the market condition of various products, political condition for export, facility of vehicle transportation etc.
• All this information’s are latest (Current).

• In India Free Trade Zones are Kandala, Santa Cruz (Mumbai), Falta, Kochin, Chennai, Viskhapatnam, Noida and Dahej near Bharuch.

• Industrial units of Special Economic Zone are given incentives for the growth of export of their products is exempted from custom duty, central excise duty, service tax, central sales tax, and security transaction tax.

• When fixed product is exported of the fixed amount and against it as per fixed proportion of exchange the right of import it is given is called integrated and organized economic incentive.

• Life and supply get uneven and disturbed in any country during natural calamity like flood, cyclone, earth quake, epidemic snowfall, tsunnami etc. In this circumstances necessities are imported and natural calamities are faced.

• Through international trade, any country can stop the price fall be exporting excess supply of the product and when there is price rise due to scarcity of the product, then through import price rise can be controlled. In this way stability of price is maintained.

• When the people and institutions of one country perform business activities with the people and the institutions of another country it is called foreign trade. Payment is made in the currency of the country from where the goods have been imported.

• Under-developed countries can develop through collaboration with other countries. They can import foreign technology, modern management skill, researches and capital investment.

Specific areas called Export Processing Zones (EPZs) and Special Economic Zones (SEZs) have been established in India to promote foreign trade. These zones provide facilities like tax benefits, simplified customs procedures, and infrastructure to encourage exports and attract foreign investment, thereby increasing foreign remittances to the government.