Description
1. You are working with a Customs Broker company. One of your clients seeks your advice on whether to import goods on Ex works, FOB basis or CIF basis. They don’t want to opt for any other incoterms. Please explain the three incoterms and advise them suitably. (10 Marks)
2. Your friend wants to import some interior decoration goods from China for his home i.e. personal purposes. He seeks your guidance on obtaining IEC certificate to import goods for his purpose use. Give a good write up to your friend on this. (10 Marks)
3.You have been shortlisted for a job of Export & Import Manager. During an interview you have been asked to give your views on the following questions:
- a) What are the different type of payment terms prevailing in the international market today on imports? (5 Marks)
- b) What is your option of payment term for safe transaction and why? (5 Marks)