Export Import

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NMIMS

Master of Business Administration

Export Import

Q1. You are working in Procurement dept of a trading organization who distributes medical equipment. Your company wants to procure surgical equipment 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.

Answer. Imports form a vital component in the growth of a country be it a developed or developing country. For developed countries, import of technology, raw materials and capital goods is required for sustaining the optimum level of production. This assists the developed countries to meet the demand requirements of their consumers to sustain a high standard of living. On the other

Q2. 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.

Answer. The main objectives of having documents in trade are:

1. To affect physical transfer of goods from the exporter’s place to the importer’s place.

2. To transfer, property and title of goods from the exporter to the importer and

3. For realization of export proceeds from the exporter to the importer.

Q3. 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?

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