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What role is played by export promotion bureau in promoting exports describe its function?
There are 2 types of merchandisers in export houses - buyer and production merchandisers. Buyer merchandisers act as a link between the buyer and the manufacturer. They have the responsibility of ensuring that the product is developed as per the requirements of the buyer so in between they have the resposibilty of sourcing, sampling and communication with the buyer. The production merchants on the other hand are a link between production and buyer merchants. They have the responsibility of ensuring that the production goes as per the schedule and as per the requirements.
What are the advantages and disadvantages of international trade in context to India?
An advantage of international trade in context to India is increase in the collection taxes for the utilization of its government. A disadvantage, on the other hand, is that local farmers cannot compete with the lower price of agricultural goods from international trade, thus lower income for the agricultural sector.
Are elastic or inelastic goods are still in demand even if even if prices rise?
Inelastic goods, such as gas or energy based products will always be in demand. This is owing to the fact that everyone utilizes the generally inexpensive goods. Elastic goods, on the other hand, are considered a luxury item/s, such as a Corvette or designer clothing.
What are the different methods of international payment settlement?
INTRODUCTION The central bank of any country is usually the driving force in the development of the national payment system. The Reserve Bank of India (RBI) as the central bank of the country has been playing this developmental role and has taken several initiatives for a safe, secure, sound and efficient payment system. The buyer and the seller incorporate the details in the contract of sale itself that how payments for goods to be send. Depending upon the bargaining power of the buyer and seller, provisions of Exchange Contracts in the countries concerned, the duration of trade relationship between the buyer and seller and also the credit worthiness of the parties concerned, terms of payment are arrived at. It can also be said in general that, terms of payment reflects the extent to which the seller requires a guarantee of payment before he loses control over the goods. There are four main methods using by the exporters and importers to fulfil the contract value. These are Advance payment, open Account System, Consignment Sale and Documentary Collection. ADVANCE PAYMENT 1) Meaning:- An amount paid before it is earned or incurred, for example, a prepayment by an importer to an exporter before goods are shipped, or a cash advance for travel expenses. 2) This method is the most desirable for the Exporter, the Importer has to rely on the integrity of the Exporter and his capacity to execute the order in time. More than that, the entire transaction is financed by the Importer in this method thereby making the transaction more costly for him; besides exposing the Importer to credit risks. On account of the above factors some countries have imposed Exchange Control restriction regarding imports. 3) In India advance payment is allowed only in respect of import of books, periodicals, life saving payment apparatus, capital goods, machinery and a few other items. 4) Advance payment of USD 2500/- or equal to this amount can be made for commercial purposes. If the following condition are followed by the contract party. a) Documents produced by the parties must be evidence showing the demand of the overseas supplier. b) Payment must be given to the overseas supplier. c) Endorsement in the import licence if any. d) Import is permitted either by a licence covered under OGL. As regards exports, depending on the nature of goods exported and the competitiveness of the product, advance payments are insisted. For example in the case of export of vegetables and fruits, it is customary to demand 100% advance payment. e) Application in F.A.I. in duplicate. f) Importer will submit evidence of import in the Exchange Control Copy of Bill of Entry/Postal wrapper within a period of 3 months. OPEN ACCOUNT SYTEM 1) It is just opposite to the Advance payment. 2) Meaning: When an Exporter agrees to sell the commodity on open account system to the Importer, he despatches the goods to the buyer directly followed by the transport documents and an invoice requesting payment. 3) The Exporter loses control over the goods completely and leaves everything on the integrity of the buyer. 4) It is beneficiary to the Importer; the Exporter bears the entire financial and commercial risks. This system is normally resorted to when the goods command buyer's market. 5) The commercial risk is, to some extent minimised by taking a policy of ECGC. To take care of the interest of the Indian Exporters, there are Exchange Control restrictions imposed by RBI on open account export Sales. CONSIGNMENT SALE If you sell goods sold on consignment, you have agreed to sell the goods without first buying those goods from the owner. Typically, your agreement specifies one of the following: 1) you agree to sell the goods on behalf of the owner as an agent 2) you agree to purchase the goods for an agreed price when you find a buyer. There are no restrictions on what goods can be sold on consignment. Goods regularly sold on consignment include: motor vehicles, boats, wedding and formal dresses, cameras, farm machinery and artworks. For Example: Selling on consignment means giving your car to someone else, usually a motor dealer, to sell on your behalf. Generally you set the minimum price you will accept and the dealer will add a commission to it. While the ownership and possession passes to the buyer in the case of open account system, the ownership remains with the seller in the case of consignment sale. In the case of goods exported on consignment basis, freight and marine insurance must be arranged in India. DOCUMENTARY COLLECTION The Exporter prepares the proper financial and commercial document including the transport document and hands over to his Banker requesting in clear terms as to how the documents are to be delivered to the Importer at the other end. Four main parties to a documentary collection are The Principal i.e.. the Exporter, The Remitting Bank - The Exporter's Bank , The Collecting Bank - The Bank in the Importer's country and The Importer, the consignee. When the Exporter wants the Bank to hand over the export documents to the Importer only against payment immediately, the Bill of Exchange is called a Sight Draft. In case the Exporter wishes to give some time (30 days, 60 days, 90 days etc.) to the Importer to arrange for the funds but at the same time would not like to part with the documents before payment of money, the appropriate bill of exchange is called a D/P (Document against Payment). Banks act as intermediaries to collect payment from the buyer in exchange for the transfer of documents that enable the holder to take possession of the goods. The procedure is easier than a documentary credit, and the bank charges are lower. The bank, however, does not act as surety of payment but rather only as collector of funds for documents. For the seller and buyer, a documentary collection falls between a documentary credit and open account in its desirability. By Kishan Singh Rana
How were goods and people transported before 1750?
Animals, horses, mules, over water on boats, walking, carrying by hand and feet.
When is it ok to put your hand in the hopper of a refuse collection vehicle?
never
Does the obligation to warrant against eviction or hidden defects apply to second hand goods?
Unless the seller ABSOLUTELY and EXPLICITLY warrants the second hand items as serviceable it is CAVEAT EMPTOR (Let The Buyer Beware).
How do you receive an item from eBay does a person hand it to you personally?
Normaly no. If you are the buyer you will have various options for the delivery of the product you buy. These will be post/carrier, collection in person from the seller and delivery by the seller to you personally.
Compare between an actual buyer & a potential buyer?
A potential buyer is someone who MIGHT buy something. It is not yet determined that he/she will purchase. On the other hand, an actual buyer is someone who WILL buy something. There is an assurance that he/she will purchase.
What information do you need from a buyer of a hand gun in mesa AZ I want to sell a hand gun that my father left me.?
you have to be licensed to sell hand guns.
What do you do with a car title when you sell the car privately?
Take the title along with the buyer to your local DMV and have the car transferred over from you to the buyer. Do not sign the title over until you have the money in your hand, and do not let the buyer have the car until you have it transferred out of your name.
What is the difference between buyer and consumer?
Role in Transaction: A buyer is someone who makes a purchase, regardless of whether they consume the product or not. A consumer, on the other hand, is the end user who utilizes or consumes the purchased product or service. Intent and Purpose: The buyer's primary focus is on the transaction itself, seeking to acquire a product or service. The consumer, however, is concerned with the utility and satisfaction derived from using the purchased item. Decision-Making Influence: In some cases, the buyer and consumer are the same person, especially in individual consumer transactions. In business-to-business scenarios, the buyer may make purchases on behalf of the organization, but employees within the company become the consumers. Perspective: The buyer's perspective is transactional, centered around acquiring goods or services. The consumer's perspective is experiential, focusing on the benefits and satisfaction gained from using the product. Responsibility: The buyer is responsible for the financial transaction and product acquisition, while the consumer bears the responsibility of using the product as intended and deriving value from it.
Difference between sales and hire purchase?
1. In a sale, property in the goods is transferred to the buyer immediately at the time of contract, whereas in hire-purchase, the property in the goods passes to the hirer upon payment of the last installment. 2. In a sale, the position of the buyer is that of the owner of the goods but in hire purchase, the position of the hirer is that of a bailee till he pays the last installment. 3. In the case of a sale, the buyer cannot terminate the contract and is bound to pay the price of the goods. On the other hand, in the case of hire-purchase, the hirer may, if he so likes, terminate the contract by returning the goods to its owner without any liability to pay the remaining installments. 4. In the case of a sale, the seller takes the risk of any loss resulting from the insolvency of the buyer. In the case of hire purchase, the owner takes no such risk, for if the hirer fails to pay an installment, the owner has the right to take back the goods. 5. In the case of a sale, the buyer can pass a good title to a bonafide purchaser from him but in a hire-purchase, the hirer cannot pass any title even to a bonafide purchaser. 6. In a sale, sales tax is levied at the time of the contract whereas in a hire-purchase, sales tax is not leviable until it eventually ripens into a sale (K.L. Johar & Co. vs. Dy. Commercial Tax Officer).
Difference between carriage inward and freight inward?
Carriage inward refers to the transportation costs incurred by a business when purchasing goods from suppliers. It is added to the cost of inventory and increases the cost of goods sold. Freight inward, on the other hand, refers to the cost of transporting the goods purchased from suppliers to the buyer's location. It is also added to the cost of inventory but is not included in the cost of goods sold.
Who were the skilled workers who made goods by hand?
The answer is artisans.
What are the release dates for Burial Goods - 2013 The Hand Off 1-2?
Burial Goods - 2013 The Hand Off 1-2 was released on: USA: 10 November 2013
What is buying a house consumption or investment?
investment if it is new, consumption if you pay rent or are a second-hand buyer
