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International Trade · Gujarat Board (GSEB) STD 11 Commerce (GSEB - English Medium). 7 questions.

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Question 15 Marks
State the difference between Internal and International trade.
Answer
No. Point Internal Trade International Trade
$1.$ Meaning Trade carried out between carried out among geographical boundary of the same countries is called internal trade. Trade carried out between geographical boundary f two different countries is called international trade.
$2.$ Currency in entire country, there is same currency so there is no difficulty in calculation and payment. There is difference in the currency of each country. So it is difficult to calculate and to make payment.
$3.$ Laws In entire country the same law prevails. Laws are different in each country.
$4.$ Language Business is carried out under the same geographical boundary so no problem of language arises. Business is carried out in different geographical boundary so the problem of language arises.
$5.$ Weigh and measurement Weight and measurement are the same. Weight and measurement are different.
$6.$ Distance Internal trade is carried out among different parts of the country. So the distance is not much. Distance is quite long when business is carried out with different countries.
$7.$ Custom The rate of custom is low and procedure is simple. The rate of custom is high and procedure is complicated.
$8.$ Insurance Insurance is not compulsory. Insurance is compulsory.
$9.$ Trading procedure Trading procedure is comparatively simple and less expensive. Trading procedure is comparatively complicated and more expensive.
$10.$ Market Internal trade is limited. International trade is on large scale and vast.
$11.$ Government restriction Government restriction are less. In intentional trade, government restriction are more
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Question 25 Marks
Describe the problems of international Trade.
Answer
  • Introduction :
    • Most of the nations of the world are connected with international trade.
    • Such country forms import-export policy according to its requirement.
    • One cannot import from any country anything any time as he wishes.
    • Nor he can export anything. Settlement of transaction is in Foreign Currency.
    • It creates many problems.
  • Problems of International Trade : They are as below:
    • Problem of Currency :
      • The settlement of transaction requires foreign exchange. It is in foreign currency.
      • The exporter should have sufficient information regarding exchange rate.
      • As the rate of foreign exchange are changing very often parties have to suffer.
    • Language Problems :
      • The language of every country of the world is different.
      • It is difficult to understand business dealings when languages poses as barrier.
      • English language has been little bit useful to remove difficulties.
    • Problem of weight and measurement :
      • Weight and measurements are different in many countries. It is difficult to fix the price in context of quantity.
    • Difficulty in Distance :
      • Most of the international business is carried out through marine route.
      • When the distance between two countries is quite long, it is difficult to transport goods in time.
    • More Risk :
      • There are many risks while transporting goods through marine route.
      • The risk include sea robbery, sinking of goods, damage due to weather etc.
    • Political Ban:
      • The laws are not the same in all countries.
      • Each country has formed rules and regulations and policy regarding import-export.
      • One cannot breach it and import or export as he desires.
    • Difference in Laws :
      • Mercantile laws are different in all countries. Knowledge of legal aspects of business is required before commencing trade.
      • Advisors are to be appointed in this context.
    • Lack of Direct Contact :
      • In international trade mostly two parties do not come in contact with each other.
      • So the importer doubts whether he will get the goods as per order placed and the exporter also has doubts regarding payment of goods sent.
      • That is why most of the transactions are carried out through bank
  • Conclusion :
    • World Trade Organization $(WTO)$ and International Trade Agreement have played vital role in solving the problems of international trade. $EXIM$ (Import-Export) banks also have been helpful.
    • Government of every country has made arrangement to guide importers and exporters.
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Question 35 Marks
Explain steps of export procedure.
Answer
 
  • Introduction :
    • Every country produces special product due to its specialty of climate.
    • Natural resources and technological differences.
    • When these produce exceed the requirements of the country extra quantity is exported to other countries.
    • Every country has formed its own rules and regulations for export.
    • Every exporter has to follow export rules laid under export policy of government
  • What is Export ? :
    • When any country or the trader of any country sends goods to the person of another country is called 'export'. The person who exports goods is called 'exporter'.
  • Steps of Export Procedure :
  • Following is the export procedure for exporting product from India.
    • To receive order :
      • The importer gives the order to exporter regarding the products he desires to import.
      • The order is a written document which contains the description of the product to be imported, its quantity, agreed price, packing material and form, date of dispatch, details of insurance, details of transports, mode of payment, terms and conditions etc.
      • Order showing all the above details is called 'indent'.
      • Normally, the exporter gets information about economic condition of the importer and his business activity before obtaining order.
    • To obtain Export License :
      • Every country does not give export license for all product Special license for export is to be obtained for controlled products. Other products can be freely ported.
      • For that also Open General License is to be obtained To obtain export license the exporter has to apply in the form published by ministry of commerce.
      • Exporter has to show his identity and has to promise to pay income tax and other taxes like sales tax etc., With application the exporter has to pay fees.
      • Those who export regularly, are registered under Export House.
      • They do not have to obtain export license for every export order. They do not require separate license.
    • To collect goods :
      • After receiving order from importer, the exporter collects too much goods.
      • If the exporter himself is the manufacturer he produces the product as per the order received.
      • If the exporter is a trader he collects quality goods.
    • Procedure regarding Foreign Exchange :
      • According to economic reforms of 1991, the importer has to pay the amount of the products imported, in $U.S.$ dollars.
      • Foreign Exchange is controlled by the Reserve Bank and other banks appointed by it.
      • As a result, the exporter has apply for conversion of Foreign Exchange into local currency to Reserve Bank. In this application, he has to show the total amount of foreign exchange he is going to receive, country from which he is going to receive it, the time of receiving it and the mode of payment.
      • A copy of the application is given to the bank or the institution through which he carries out this activity.
    • To obtain Letter of Credit (L/C):
      • The exporter checks the goodwill and financial position of the importer before executing the order.
      • The exporter requests his bank to check the goodwill for safety of his payment.
      • Exporter's bank assigns this work to its branch in Foreign country or through other sources it gets information about goodwill of the importer.
      • The certificate of credit is called letter of credit $(L/C).$
    • To receive shipping order :
      • After receiving Letter of Credit of importer, the exporter contacts the company to transport goods as per instruction of the importer.
      • The goods are sent through marine route, aviation or road.
      • The company which is prepared to transport the goods on desired date is given the work of shipment. The exporter declares the quantity, weight, size, number of parcel, price etc.
      • The company which assures to carry goods is given the consignment.
      • At this time, the exporter pays freight and the shipping company gives the letter to the exporters which instructs the captain of the ship to transport the goods.
      • This is called "shipping order'. After receiving the shipping order the exporter, feels that his material will be dispatched on the specific date.
      • When the exporter has to export material in very large quantity he hires the entire ship. The agreement in this regard with the shipping company is called "Charter Party Contract'.
    • Custom Process :
      • Every exporter has to follow custom procedure.
      • The exporter has to obtain the custom free certificate from custom officer, if the goods are custom free.
      • For this, he has to notify in the form that the goods is custom free.
      • If the goods is not custom free the exporter has to prepare shipping bill and to mention importer's name, address, detail of goods, destination, the name of the ship and shipping company etc.
      • Sometimes custom is calculated on direct checking of goods.
      • When the goods is re-exported, the custom officer endorses shipping bill. After obtaining this type of shipping bill, these goods are re-exported.
    • Packing and Marketing:
      • Packing is required when goods are exported.
      • Packing is important when the exporter manufactures it in his own factory or purchases goods from market to export. .
      • Packing should be strong, sturdy and perfect because the goods is transported through marine route, aviation route or road. It should be protected from climate, moisture, heat, rain to retain its quality.
      • Packing should be perfect of international standard.
      • The exporter has to follow international standards of packing.
      • If the packing is not proper the captain issues faulty mate receipt.
      • Note is made on each parcel for its identification.
      • It is known as 'marking'. Normally the name of the sender, the name of receiver, destination, weight etc., are mentioned on the parcel.
      • Most of the exporters use the ink which is not washed away. They use lasting marking.
    • Insurance :
      • After proper packing and marking and paying custom, the goods is completely ready to export.
      • For the safety of goods, insurance policy is taken.
      • In Foreign Trade, it is compulsory to take insurance.
      • After paying premium to insurance company, the exporter gets 'Cover note' from insurance company.
      • Thereafter, when the 'Insurance Policy' is prepared it is given to the exporter against 'Cover Note'.
    • To obtain carting order :
      • The exporter has to apply to the station or port authority from where the goods are exported.
      • In this application form he has to notify that required details showed in the shipping bill and complete procedure is followed.
      • The exporter has to pay fees for the usage of services and resources of the port.
      • Then order is given to load the goods on ship. This permission is called 'carting order'.
    • To obtain Mate Receipt :
      • The goods is loaded on the ship on the basis of the carting order issued by port authority.
      • The captain of the ship or his representative is known as 'mate'.
      • He checks whether the goods tally with the Shipping bill and it is properly ready to be transported.
      • When they issue the receipt after checking is called "Mate Receipt".
      • If the packing is not up to the international standard and rule and regulation, he mentions the same on the receipt, then this type of receipt is called 'Foul Receipt' or 'Dirty Chit.
      • When packing is up to international standard then 'Clean Receipt' is issued.
      • The mate receipt indicates that goods is at loaded on the ship and is in the possession of the captain of the ship.
      • It is a proof of surety to transport goods to the destination of the importer.
    • To obtain Bill of Lading :
      • The bill of lading is provided to exporter by shipping company.
      • It shows that the goods to be exported to importer is received.
      • It assures transportation of goods to the importer.
      • Before issuing this document, shipping company on the basis of mate receipt recovers freight as prescribed rate.
      • If there is difference between shipping order and shipping bill, extra freight is recovered as per rule. Shipping company issues, the receipt of freight.
      • It is called 'Freight note'. The shipping company charges 'primage' for extra services used by the exporter. In short, extra services are charged that is called 'primage'.
      • The receipts of freight paid and 'primage paid are to be presented to obtain bill of lading.
      • If the amount of freight is to be paid by the importer, that too is mentioned in the bill of lading.
      • Bill of lading is a negotiable instrument.
      • Exporter can endorse it and give the ownership right to any one.
      • Three copies of bill of lading is prepared out of which the exporter keeps one copy, second copy is given to the captain of the ship and the third copy is sent to the importer on the basis of which the importer releases goods.
    • Certificate of Origin :
      • The certificate of the quantity of goods produced in specific country is called 'certificate of origin'.
      • As per agreement, the concern country allows discount in custom.
      • To obtain this discount certificate of origin is required.
      • This certificate can be obtained from chambers of commerce, government or trade union.
    • Consular Invoice :
      • The ambassador of importer is in the country of the exporter.
      • When the goods of the exporter reach the country of importer, from the ambassador of one own country the certificate of the value of goods is received.
      • It is called 'Consular Invoice'. Quantity of goods, price etc., are mentioned in this invoice.
      • On the basis of it the importer country recovers custom duty.
      • Consular invoice is an important document to simplify the payment of custom duty.
    • To Send Documents :
      • The exporter sends the following documents to the importer's bank, through his bank. Documents such as invoice, insurance policy, or cover note, bill of lading, certificate of origin, consular invoice etc.
    • Recovery of Money :
      • Exporter instructs bank for recovery of money for the goods exported.
      • Bank instructs the branch of the bank, located in the area of importer to recover the amount of bill along with documents.
      • It is known as $D/P$, Document against Payment.
      • When the exporter's Bill or Exchange letter is accepted by the importer, it is called $D/A$, Documents against Acceptance.
      • Exporter can send all documents direct to the importer and recover the amount.
      • If recovery process is carried out through bank, its charges are to be paid.
  • Conclusion :
    • No exporter can form his own procedure of export. He has to follow rules laid by the government. He has to pay export duty fixed by the government.
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Question 45 Marks
Describe import procedure.
Answer
  • Introduction :
    • There has always been difference in climate of each country.
    • Due to geographical specialty certain product grow in specific country.
    • That product is required by people all over the world.
    • So these products are brought from the country where they are grown or produced.
    • In short, every country has to import some products in bulk or less quality.
  • What is Import ? :
    • When products are brought from foreign countries in India it is called Import.
    • The procedure of import is not the Same in every country.
    • When any product is to be imported from any country, the rules and regulations formed by the concerned country are to be followed.
  • Import Procedure :
    • Policy formed by the concerned country is to be followed when product is imported from other country.
    • Normally following steps are taken.
      • To obtain import license :
        • Open General License $(OGL)$ is to be obtained for the goods listed under list prescribed by government, if a person or a firm who wants to buy goods from Foreign Country.
        • It is quite easy to obtain $OGL.$
        • The import of the products not listed in the government list is controlled.
        • The import of such goods requires application to government for license.
        • It carries the details like the name of the importer, his address, his economic condition, details of the goods to be imported, etc. If the officer is satisfied he approves the application and gives license.
        • If quota system is in force then the certificate indicating quota is given to the importer.
      • Arrangement of Foreign Exchange :
        • In Foreign Trade payment is to be made in foreign currency.
        • For this, foreign exchange is required.
        • One has to make arrangement for foreign currency.
        • Reserve Bank of India regulates foreign exchange.
        • Application in prescribed form endorsed by the bank carrying foreign exchange, business is sent to the Reserve Bank of India.
        • In the application form the requirement of exchange of the concerned country is to be indicated in $U.S.$ dollar.
      • Placing of Order :
        • After obtaining imported license, the importer asks exporters for the quotation of goods he requires.
        • Importer places an order with the exporter who quotes the lowest rates.
        • The letter in which the importer gives the order is called indent.
        • In the indent he mentions complete details of goods, price, packing, insurance, transport company etc.
        • In our country, indent is sent through indent firms.
      • To send Letter of Credit $(L/C)$ :
        • When the importer places an order to the exporter, the exporter demands letter of credit from the importer to knows his financial status and credit.
        • The Reserve Bank issues the letter of credit after getting the desired amount of deposit from the importer. On getting the letter of credit, the exporter feels surety of getting money.
      • To receive documents from exporter :
        • Exporter normally sends the documents of export through bank under the agreement of Documents against Payment.
        • $D/A$ means to furnish Documents against Acceptance of Bill of Exchange.
        • $D/P$ means Documents against Payment.
        • Sometimes exporter sends documents direct to the importer not to the bank. The importer obtains documents by making payment or accepting bill of exchange.
      • To receive an order of goods receivable :
        • The exporter sends many documents to the importer regarding import of goods.
        • Out of which. Bill of Lading is the most important document indicating the ownership of goods.
        • Exporter shows the bill of lading to the shipping company and endorses the bill of lading, which allows ownership of goods to the importer.
        • The importer gives this document to the office of shipping company in his area.
        • If the freight is paid by importer after it is paid, the captain of shipping company endorse the bill and releases goods in favor of importer
      • Payment of import duty :
        • Custom duty is to be paid on imported good.
        • The rate of duty is less if the importer shows consular invoice and certificate of origin issued either by the exporter's central government or chambers of commerce.
        • This is a certificate that the product is manufactured in the concerned country.
        • The importer fills up the form in which he shows complete details of goods such as the name of the exporter, name the exporter's country, name of vehicle if the goods are re-exported that too is to be showed.
        • This is called 'bill of entry' on its basis, custom office decides the amount of custom to the paid. He recovers it and then endorsees the bill 'custom paid' and gives it to the importer.
      • Payment of Dock charges :
        • The importer brings goods through aviation, road or marine, route.
        • When the vehicle arrives at the presided place, he has to pay for the facilities used.
        • It is called 'Dock Charges'.
        • This charges include the usage of port facilities, and all expenses from unloading till the importer receives its possession.
        • The importer receives receipt, after paying dock charges is called 'Dock Receipt'.
      • To receive possession of goods :
        • After completion of entire procedure, the importer has to shift the goods within fixed period.
        • If it is not done then he has to pay extra money for the days the goods are kept in bonded go down.
        • This extra money paid is called demurrage.
  • Conclusion:
    • Import procedure is to be followed as per government rules and regulation.
    • Obtain import license, foreign exchange arrangement, release of documents to pay import duty and port expenses are its major aspects. Services of clearing agents are hired.
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Question 55 Marks
Give the meaning of Foreign Trade and explain its importance.
Answer
  • Introduction :
  • Natural resources are unevenly distributed in every country.
  • Climate of each country is different.
  • Each country grows different crops.
  • After the discovery of sea-route, each country sends its product to other countries and bring products from other countries as per its requirement and satisfies its needs.
  • Foreign trade exists since ancient period, in the world.
  • Meaning of Foreign Trade :
  • When people or institutions of one country do business activity with the people or institutions of other country, it is called 'Foreign Trade' or 'International trade'.
  • According to Thomas, "exchange of the product of one country with the another country means foreign trade"
  • Under foreign trade, one country imports products and the other country exports products
  • Currency, government policy, customs, laws, political condition all are different.
  • Countries related with foreign trade are well aware of these differences.
  • Foreign trade is influenced by the agreement of compromise between two countries.
  • Importance (benefit) of Foreign Trade : They are as under :
  • Benefit of division of labour and specializations :
      • Natural resources of all countries are not the same.
      • In every country climate is not the same.
      • Only favorable products are produced in every country because of natural climates.
      • It is grown with less expense. Other things are to be every country because of natural climates.
      • It is grown with less expense.
      • Other thing are o be imported.
      • Due to international trade, we get the advantage of division of labour and specialization as a result of which we can get better products at low price.
  • Development of under developed countries.
      • Technologies, researches etc., are imported through foreign trade
      • Machinery tools can be imported.
      • Under developed countries can collaborate with developed countries and establish industries in their own countries and make the progress of their nation possible.
  • Maximum utilization of me
      • Through foreign trade every country imports technology machines as per its requirement.
      • It imports human labour too and makes maximum utilization of resources.
      • It prevents the wastage of resources.
  • Development of auxiliary services :
      • Various services of commerce are developed due to foreign trade.
      • Banking, insurance, warehouse, transport etc., service have developed.
  • Stability of prices :
      • Products manufactured or grown in plenty are exported.
      • It prevents fall in price. When the product is scares, it is imported and in this way its price is like controlled.
  • High standard of living :
      • In developing era the number of manufacturers are increasing.
      • It has created keen competition in international market. .
      • As a result, product is available at low price with standard quality. Standard of living has raised.
  • Exchange of culture, fashion and knowledge :
      • Due to foreign trade knowledge, habit, fashion etc. enter our country and go out of our country. Exchange of knowledge, experience, culture create international feeling.
  • Helpful in calamities :
      • When natural calamity like drought, flood, earth quake, cyclone, epidemic occur, through foreign trade necessary things are imported to minimize the loss.
  • Global Market :
      • The entire world has become a market today.
      • Extensive market is required to sell the product easily.
      • It makes the progress of industry and nation speedy.
  • Progress of the Nation :
      • Progress of the nation depends on the progress of industry.
      • Products are manufactured in collaboration with foreign companies.
      • Due to foreign trade, products are manufactured in bulk. I
  • Conclusion :
    • Foreign trade is beneficial to both exporter and importer countries.
    • Foreign trade maintains price level.
    • It helps to uplift living standard of people.
    • Foreign trade is necessary to get benefit of various researches and comforts.
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Question 65 Marks
Show the difference between import and export.
Answer
No. Points Import Export
$1$ Meaning When products or services are made in other countries and purchased by India is called import. When product or services are made in India and sold in other countries is called export.
$2.$ Illustration e.g. When India purchases crude oil from Iraq then it can be said that India has imported. e.g. India sells tea in Britain. It is said that India exports tea.
$3.$ Foreign Exchange Foreign exchange reserve of a country decreases due to import. Foreign exchange reserve increases due to export.
$4.$ Types There are two types of Import:
  1. Visible Import : Machinery, motor car etc. which can be seen or touched are purchased from other countries. They are visible import.
  2. Invisible Import: It includes banking, insurance services which cannot be seen. They are called invisible import.
 There are two types of export
  1. Visible Export: Machinery, motor car etc. which can be seen and touched are sold in other countries. They are visible export.
  2. Invisible Export :: It includes services like banking, insurance etc. which are exported to other countries. They are invisible export.
$5.$ Influence on Economy Supply increases, needs are satisfied. It is necessary for price stability and benefit of new technology Industries of the nation are encouraged. It increases prestige of a country. Opportunities of employment increase
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Question 75 Marks
Explain the meaning of export incentives and state its tools in brief.
Answer
  • Introduction :
    • Each country encourages its exporters. Each country wants to increase its exports. Foreign exchange can be earned only through foreign trade.
    • Through its products can be imported from other countries.
    • Guidance is provided to exporters, along with financial aids by government.
  • Meaning of Export Incentive (Promotion) :
    • Availability of domestic products to international exporters, at the best quality, cheapest rate, as and when they require.
    • Government encourages export to earn foreign exchange.
    • It is called export Promotion (incentive) to business.
    • Every government uses different types of measures to boost up export of the product of the country.
  • Why Export Incentives ? :
    • Government provides export incentives.
    • The following causes are responsible to encourage export.
      • To obtain Foreign exchange, increase in export is necessary. We need foreign exchange to pay imported bills. Country should have sufficient foreign exchange.
      • Export is necessary for sound, stable and safe economy.
      • The country having more foreign exchange is called a prosperous and wealthy country. Export should be increased to get foreign exchange.
  • Tools for Export Incentives (Promotion):
    • It is the duty of the government to encourage exporters.
    • Government can take following measure to increase export.
    • It can provide following incentives /promotion.
      • Trade Agreement :
      • Every country makes trade agreement with other countries keeping political view point in consideration.
      • According to this, trade agreement contract is signed to import the products of one country or many countries.
      • As a result, the exporters of the concerned nation get encouragement to export their products or service.
      • Financial and Economic Incentive Return :
      • $(i)$ Government allows direct discount to the exporters according to its policy.
      • $(ii)$ Sometimes sales tax and excise are exempted on the goods exported or charged at very low rate.
      • $(iii)$ Sometimes income earned from exported goods is partially or completely declared tax free.
      • $(iv)$ To promote exporters, required raw material, electricity and other things are provided at comparatively low rates.
      • For export oriented products, government announced exports oriented policy is in budget.
      • Integrated and Organized Economic Incentive Schemes : Under this scheme
      • $(i)$ if the desired target of export is achieved, then within fixed limit of amount of economic benefit is gained through import, is allowed. The products for import is decided by government.
      • $(ii)$ Those exporters who assure export, are given land at concessional rate and are given subsidy to establish factories in tax free area. Exporters who avail these facilities have to export total target or to export total production.
      • Following financial facilities and services :
      • Following financial facility and services are provided to exporters
      • The exporter gets payment of export bill, the same day he exports the product.
      • Protection is given when there is change in foreign exchange rate.
      • To make arrangement to get goods imported easily.
      • To provide service as guarantor after studying financial stability of the exporter.
      • Incentive through Non-Economic Facilities :
      • Required information and guidance are provided.
      • Government imparts required training and information for preparing export oriented
      • products.
      • Competition is held among exporters and the winner is awarded honored in public.
      • If the workers of factory of export oriented products announce strike or lockout then government announces illegal.
      • Special Economic Zone $(SEZ)$ :
      • Government of India has passed the law in $2005$ of Special Economic Zone.
      • It is in effect from $10th$ February $2006.$
      • Under this law, various types of incentives are allowed if the industry is established in specific geographical area announced by government.
      • Its primary purpose is to attract local and foreign capital investment.
      • Areas included in Special Economic Zone :
      • $(A)$ Export Processing Zone.
      • $(B)$ Free Trade Zone
      • $(C)$ Free Ports
      • $(D)$ Industrial Estate
      • Incentives allowed in Special Economic Zone for export growth :
      • $(1)$ Exemption from custom duty.
      • $(2)$ Exemption from central excise duty.
      • $(3)$ Exemption from service tax.
      • $(4)$ Exemption from central sales tax.
      • $(5)$ Exemption from security transaction tax.
      • Government has made attempts to develops infrastructure facilities to attract local and foreign capital investment
      • Export Processing Zone $(EPZ)$ :
        • The government of India has established Export Processing Zone in different areas to gain foreign exchange in huge amount.
        • Export Process Zone and free trade zone are the synonyms of each other.
        • Under the policy announced by the government of India in Kandla, Noida, Santa Cruz (Mumbai), Falta, Cochin, Chennai, Visakhapatnam, Dahej (Bharuch) Free Trade Zones have been established.
      • Incentive allowed in Free Trade Zone for export promotion :
        • In this zone excise duty and rules regarding financial transactions within the country and beyond the country are relaxed.
        • There was relaxation in the laws related to labour.
        • Primary facilities like electricity, water supply, road, communication etc., are provided to run industry.
        • High quality raw material and Continuous supply of raw material is assured.
        • Latest information regarding export is provided to exporter.
        • In foreign countries, market position of various products, political situation regarding export policy, traffic facility of vehicles etc., and information is provided.
  • Conclusion :
    • Government can make required changes in incentives allowed to exporters.
    • When foreign currency is needed for development then government adopts favorable policies for export promotion.
    • Government of India gives 'Udyog Ratna' award to the highest exporter.
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