PROCESSING OF IMPORT ORDER

Processing of import order BY KUSUM AND KHYATI

IMPORT ORDER –Import order is an open interface that consists of interface tables and set of API’s. By using import order we can new, updated or changed sales order from other applications.
v ORDER IMPORT CAN DO FOLLOWING THINGS FOR US:
1. Validation
2. Defaulting
3. Processing constraints checks
4. Apply & releasing or order holds
5. Scheduling of shipments
with Order management checks all the data during the import process to ensure its validity with order management so is prepared for anything horrible. Valid transactions then converted into order lines,reservations,price adjustments and sales credit in OM base tables.
v FOLLOWING ARE PREREQUISITEES FOR ORDER IMPORT:
1. Set up order management.
2. Customer should be created along with BILL TO & SHIP TO.
3. Pricing should be defined for all those item which are part of upload.
4. Item should be assigned to inventory organisation.
5. Define order import source.
6. Payment term should be setup.
7. Currency shoud be setup if order currency is different from SOB currency then conversion rate and conversion type should be defined.

PROCESS OF IMPORT ORDER

IMPORT PROCESSERS –
Procedures have to be followed by ‘PERSON-IN-CHARGE’ of conveyance’ as well as the importer.
Who is 'Person in Charge' - As per section 2(31), 'person in charge' means (a) In case of vessel - its master (b) In case of aircraft - its commander or pilot-in-charge (c) In case of train - its conductor or guard and (d) In case of vehicle or other conveyance - its driver or other person in charge.
The significance of this definition is –
1.He is responsible for submitting Import Manifest and Export Manifest.
2.He has to ensure that conveyance does not leave without written order of Customs authoritie.
3.He has to ensure that goods are unloaded after written order, at proper place. Loading also has to be only after permission.


4.He can be penalised for (a) Giving false declaration and statement (b) shortages or non-accounting of goods in conveyance.
GENERAL PROVISION - Goods are imported in India or exported from India through sea, air or land. Goods can come through post parcel or as baggage with passengers. Procedures naturally vary depending on mode of import or export. Procedures discussed in this Chapter are applicable for imports by sea, air or land, but not as baggage or postal despatch.

v Computerisation of custom work - Work of customs at Delhi airport has been computerised. Work at Mumbai port is also computerised. Whenever the work is computerised, documents like IGM and Bill of Entry have to be filed electronically. Procedure in computerised environment has been specified in CC, New Delhi PN 22/98 dated 8.5.1998. Guidelines for preparing data file for Bill of Entry and shipping bills for Mumbai Customs House has been prescribed vide PN 108/99 dated 30-9-1999 and PN 10/2001 dated 30.1.2001.
v Entry – ‘Entry’ in relation to goods means an entry made in a Bill of Entry, Shipping Bill or Bill of Export. It includes (a) label or declaration accompanying the goods which contains description, quantity and value of the goods, in case of postal articles u/s 82 (b) Entry to be made in case of goods to be exported (c) Entry in respect of goods imported which are not accompanied by label or declaration made as per provisions of section 84. [section 2(16)].
v Amendment of document - Importer, exporter or 'Person In charge' have to submit various documents to customs authorities like Bill of Entry, Import Manifest, Export Manifest etc. Some times, it may become necessary to amend the document due to various reasons like change in classification, clerical mistake in document, change in unloading / loading plan of vessel etc. In such case, permission to amend these documents have to be obtained from customs authorities. [section 149]. Such permission can be given if there are no fraudulent intentions.
In case of bill of entry, shipping bill or bill of export, it can be amended after clearance only on the basis of documentary evidence which was in existence at the time the goods were cleared, warehoused or exported, and not on basis of any subsequent document. [section 149].
v Customs Station - Imported goods are permitted to be unloaded only at specified places. Similarly, goods can be exported only from specified area. In view of this, definitions of ‘Customs Station’ is important.
Customs area means all area of Customs Station and includes any area where imported goods or export goods are ordinarily kept pending clearance by Customs authorities. Thus, ‘Customs Area’ could include some area even outside the ‘Customs Station’. Customs Station means (a) customs port (b) inland container depot (c) customs airport and (d) land customs station.
Section 7 of Customs Act empowers CBEC (Board) to appoint * Customs ports * Customs airports * Places for inland container depots * Coastal ports. These are appointed by issuing a notification. Section 8 authorises Commissioner of Customs to approve proper places in any customs port, customs airport or costal port for unloading and loading of goods or for any class of goods and specify the limits of customs area. Thus, the place (city / town / village etc.) is approved by CBEC, while exact location within that city / town / village is approved by Commissioner of Customs.

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Import manifest is required to be submitted before arrival of aircraft or vessel - Section 30(1) of Customs Act provides that Import Manifest should be filed before arrival of ship or aircraft. Normally, the Agents submit the Import Manifest before arrival, so that maximum possible formalities are completed before vessel or aircraft arrives. This also enables importers to file ‘Bill of Entry’ in advance.
v Grant of Entry Inwards by Customs Officer - Unloading of cargo can start only after Customs Officer grant ‘Entry Inwards’. Such entry inwards can be granted only when berthing accommodation is granted to a vessel. If there is heavy congestion at port, shipping berth may not be available and in such case, ‘Entry Inwards’ cannot be granted. This date is highly relevant for determining rate of customs duty applicable.
v Carrier responsible for shortages during unloading - If the goods are short landed, the carrier is liable to pay penalty upto twice the amount of duty payable on such short landed goods. It has been held that tally sheet prepared by Port Trust authorities on unloading of goods is a statutory document and should be accepted in preference to steamer survey.
v Procedure by Importer - The importer importing the goods has to follow prescribed procedures for import by ship/air/road. (There is separate procedure for goods imported as a baggage or by post.)

BILL OF ENTRY - This is a very vital and important document which every importer has to submit under section 46. The Bill of Entry should be in prescribed form. The standard size of Bill of Entry is 16" × 13". However, for computerisation purposes, 15" × 12" size is permitted. (Mumbai Customs Public Notice No. 142/93 dated 3-11-93).
Bill of Entry should be submitted in quadruplicate – original and duplicate for customs, triplicate for the importer and fourth copy is meant for bank for making
Under EDI system, Bill of Entry is actually printed on computer in triplicate only after ‘out of charge’ order is given. Duplicate copy is given to importer.
TYPES OF BILL OF ENTRY- Bills of Entry should be of one of three types. Out of these, two types are for clearance from customs while third is for clearance from warehouse.
v Bill of entry for home consumption - This form, called ‘Bill of Entry for Home Consumption’, is used when the imported goods are to be cleared on payment of full duty. Home consumption means use within India. It is white coloured and hence often called ‘white bill of entry’.
v Bill of entry for warehousing -If the imported goods are not required immediately, importer may like to store the goods in a warehouse without payment of duty under a bond and then clear from warehouse when required on payment of duty. This will enable him to defer payment of customs duty till goods are actually required by him. This Bill of Entry is printed on yellow paper and often called ‘Yellow Bill of Entry’. It is also called ‘Into Bond Bill of Entry’ as bond is executed for transfer of goods in warehouse without payment of duty.
v Bill of entry for ex-bond clearance -The third type is for Ex-Bond clearance. This is used for clearance from the warehouse on payment of duty and is printed on green paper. The goods are classified and value is assessed at the time of clearance from customs port. Thus, value and classification is not required to be determined in this bill of entry. The columns in this bill of entry are similar to other bills of entry. However, declaration by importer is not required as the goods are already assessed.
Rate of duty for clearance from warehouse - It may be noted that rate of duty applicable is as prevalent on date of removal from warehouse. Thus, if rate has changed after goods are cleared from customs port, customs duty as assessed on yellow bill of entry and as paid on green bill of entry will not be same.
v Mention of BIN on Bill of Entry – A BIN (Business Identification Number) is allotted to each importer and exporter w.e.f. 1.4.2001. It is a 15 digit code based on PAN of Income Tax (PAN is a 10 digit code). [Earlier an EC (Import Export code) number issued by DGFT was required to be mentioned on Bill of Entry].
v Filing of Bill of Entry - Normally, Bill of Entry is filed by CHA on behalf of the importer. Customs work at some ports has been computerised. In that case, the Bill of Entry has to be filed electronically, i.e. through Customs EDI system through computerisation of work. Procedure for the same has been prescribed vide Bill of Entry (Electronic Declaration) Regulations, 1995.
DOCUMENTS TO BE SUBMITTED BY IMPORTER - Documents required by customs authorities are required to be submitted to enable them to (a) check the goods (b) decide value and classification of goods and (c) to ensure that the import is legally permitted. The documents that are essentially required are : (i) Invoice (ii) Packing List (iii) Bill of Lading / Delivery Order (iv) GATT declaration form duly filled in (v) Importers / CHAs declaration duly signed (vi) Import Licence or attested photocopy when clearance is under licence (vii) Letter of Credit / Bank Draft wherever necessary (vii) Insurance memo or insurance policy (viii) Industrial License if required (ix) Certificate of country of origin, if preferential rate is claimed. (x) Technical literature. (xi) Test report in case of chemicals (xii) Advance License / DEPB in original, where applicable (xiii) Split up of value of spares, components and machinery (xiv) No commission declaration. – A declaration in prescribed form about correctness of information should be submitted.
The Noting is now done electronically in large ports, while it is done manually in small ports. Thoka Number (Serial Number) is given while noting the Bill of Entry.
1.ASSESSMENT OF DUTY & CLEARANCE-The documents submitted by importer are checked and assessed by Customs authorities and then goods are cleared. Section 2(2) defines ‘assessment’ as follows – ‘Assessment’ includes provisional assessment, reassessment and any order of assessment in which the duty assessed is Nil. Thus, ‘assessment’ includes ‘Nil’ assessment.
v Noting of Bill of Entry Bill of Entry submitted by importer or Customs House Agent is cross-checked with ‘Import Manifest’ submitted by person in charge of vessel / carrier. It is noted if the description tallies. ‘Noting’ really means taking on record by customs officer. This date is relevant for determining rate of customs duty. Thoka number (serial number) is given in the import section. Otherwise, it is returned for clarifications. In case of EDI system, noting is done by the system itself which also generates bill of entry number.
Date of presentation of bill of entry is highly relevant and the rate of duty as applicable on this date will be considered for calculating the duty payable. Bill of Entry is accepted only after proper scrutiny vis-a vis import manifest and various declarations given in bill of entry and attached documents like invoice, bill of lading etc. If such documents are not attached, the authorities can refuse to accept the Bill of Entry, and hence submission of such incomplete Bill of Entry cannot be taken as date of presentation of Bill of Entry.
v Prior Entry of Bill of Entry - After the goods are unloaded, these have to be cleared within stipulated time - usually three working days. If these are not so removed, demurrage is charged by port trust/airport authorities, which is very high. Hence, importer wants to complete as many formalities as possible before ship arrives. Proviso to Section 46(3) of Customs Act allows importer to present bill of entry upto 30 days before expected date of arrival of vessel. In such case, duty will be payable at the rate applicable on the date on which ‘Entry Inward’ is granted to vessel and not the date of presentation of Bill of Entry, but rate of exchange will be as prevalent on date of submission of bill of entry.
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2.ASSESMENT OF CUSTOM DUTY-Section 17 provides that assessment of goods will be made after Bill of Entry is filed. Date stamp of receipt is put on the ‘Bill of Entry’ and then it is sent to appraising department either manually or electronically.
There are various Appraising groups. Each group is under anAssistant/Deputy Commissioner.
v Appraising the goods - Appraiser has to (a) correctly classify the goods (b) decide the Value for purpose of Customs duty (c) find out rate of duty applicable as per any exemption notification and (d) verify that goods are not imported in violation of any law.
v Valuation of goods - As per rule 10 of Customs Valuation Rules, the importer has to file declaration about full 'value' of goods. If the assessing officer has doubts about the truth and accuracy of 'value' as declared, he can ask importer to submit further information, details and documents. If the doubt persists, the assessing officer can reject the value declared by importer. [rule 10A(1)]. If the importer requests, the assessing officer has to give reasons for doubting the value declared by importer. [rule 10A(2)]. If the value declared by importer is rejected, the assessing officer can value imported goods on other basis e.g. value of identical goods, value of similar goods etc. as provided in Customs Valuation Rules.
v Examination of goods - Examiners carry out physical examination and quantitative checking like weighing, measuring etc. Selected packages are opened and examined on sample basis in ‘Customs Examination Yard’. Examination report is prepared by the examiner.
Payment of Customs Duty - After assessment of duty, necessary duty is paid. Regular importers and Custom House Agents keep current account with Customs department. The duty can be debited to such current account, or it can be paid in cash/DD through TR-6 challan in designated banks.
After payment of duty, if goods were already examined, delivery of goods can be taken from custodians (port trust) after paying their dues. If goods were not examined before assessment, these have to be submitted for examination in import shed to the examining staff. After shed appraiser gives ‘out of charge’ order, delivery of goods can be taken from custodian
FIRST & SECOND SYSTEM OF ASSESSMENT - There are two systems of assessment. Section 17(2) provides for assessment after examination of goods and section 17(4) provides for assessment on basis of documents, followed by inspection and testing of goods.
v “First appraisement system” or 'first check procedure' - is followed if the appraiser is not able to make assessment on the basis of documents submitted and deems that inspection is necessary. Goods are examined first and then these are assessed. This method is followed only if assessment is not possible on basis of documents. - - The importer himself may also request 'first check procedure', if he cannot give all required details regarding description / value of goods. He has to make request for first check examination at the time of filing of Bill of Entry or at data entry stage in case of EDI. He has to give reason for seeking first appraisement. The examination order is recorded on Bill of Entry and then returned to importer. It is then presented to import shed for examination. The shed appraiser / Dock examiner examines the goods as per examination order and records his findings.
v “Second Appraisement System” or 'second check procedure' - which is normally followed, assessment is done on basis of documents and then goods are examined. Such examination is not mandatory. It is done on selective basis on the basis of ‘risk assessment’ or specific intelligence report. Section 17(4) of Customs Act specifically provides that if initially assessment is done on basis of documents, re-assessment can be done after examination or testing of goods or otherwise, if it is found subsequent to examination or testing or otherwise, that any statement made on Bill of Entry or any information supplied is not true in respect of matter relevant to assessment of duty.
First appraisement is generally carried out in following cases - * If complete documents are not submitted * Goods are to be tested for correct classification * Goods are re-imported * Goods are damaged or deteriorated and abatement is claimed * Goods are abandoned and remission of duty is applied for * When goods are provisionally assessed * When importer himself requests for examination of goods before payment of duty.
Examination of Goods - Examiners carry out physical examination and quantitative checking like weighing, measuring etc. Selected packages are opened and examined on sample basis in ‘Customs Examination Yard’. Examination report is prepared by the examiner.
3.PROVISIONAL ASSESSMENT - Section 18 of Customs Act, 1962 provide that provisional assessment can be done in following cases (a) when Customs Officer is satisfied that importer or exporter is unable to produce document or furnish information required for assessment (b) it is deemed necessary to carry out chemical or other tests of goods (c) when importer/exporter has produced all documents, but Customs Officer still deems it necessary to make further enquiry. In such cases, assessment is done on provisional basis. The importer/exporter has to furnish guarantee/security as required by Customs Officer for payment of difference if any. Goods can be cleared after payment of duty provisionally assessed and after providing the security. After final assessment, difference is paid by importer or refunded to him as the case may be. If the imported goods were warehoused after provisional assessment, the Customs Officer may require importer to execute a bond for twice the difference in duty, if duty finally assessed is higher [section 18(2)(a)]. The bond is called as 'P D Bond' (Provisional Duty Bond). The bond is with security or surety. Bank guarantee can also be given as a security.
v Checking of duty drawback / license documents - Documents in respect of Duty Entitlement Pass Book (DEPB), advance license, duty drawback etc. will be checked.
v Execution of bond and payment of duty - Once the duty is assessed, the bill of entry is returned to importer. The Bill of Entry should be presented to comptist for calculation and pinpointing of the duty. If bond has to be executed, it will be taken in bond section.
v Payment of duty - If goods are to be removed to a warehouse, duty payment is not required. The goods can be taken to a warehouse under bond, without payment of duty. However, if goods are to be removed for home consumption, payment of customs duty is required. CHA or the importer can take it for payment of customs duty. Large importers and CHA have P.D. accounts with customs. Duty can be paid either in cash or through P.D. account. P. D. account means provisional duty account. This is a current account, similar to PLA in central excise. The importer or CHA pays lumpsum amount in the account and gets credit on the amount paid. He can pay customs duty by debiting the amount in P.D. (Provisional Duty) account. If the importer does not have an account, he can pay duty by cash using TR-6 challan. Of course, payment through PD account is very convenient and quick.
v The duty should be paid within five working days (i.e. within five days excluding holidays) after the ‘Bill of Entry’ is returned to the importer for payment of duty. [section 47(2)]. (Till 11-5-2002, the period allowed was only 2 days).
v Interest for late payment - If duty is not paid within 5 working days as aforesaid, interest is payable. Such interest can be between 10% to 36% as may be notified by Central Government. [Section 47(2) of Customs Act, 1962.]. - - Interest rate is 15% w.e.f. 13-5-2002. [Notification No. 28/2002-Cus(NT) dated 13-5-2002] Earlier, interest rate was 24% p.a, w.e.f. 1-3-2000, as per notification No. 34/2000-Cus(NT)].
v Disposal if goods are not cleared within 30 days - As per section 48 of Customs Act, goods must be cleared within 30 days after unloading. Customs Officer can grant extension. Otherwise, goods can be sold after giving notice to importer. However, animals, perishable goods and hazardous goods can be sold any time - even before 30 days. Arms & ammunition can be sold only with permission of Central Government.
v Out of Customs Charge Order - After goods is examined, it is verified that import is not prohibited and after customs duty is paid, Customs Officer will issue ‘Out of Customs Charge’ order under section 47. Goods can be cleared from customs area only on receipt of such order. This is an ‘adjudicating order’ within the meaning of Customs Act, even if it is passed by Appraiser and not by Assistant Commissioner.
v Demurrage if goods not cleared - Heavy demurrage is payable if goods are not cleared from port within three days.





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METHODS OF PAYMENT

Methods of Payment in International Trade BY SHRUTI


Methods of Payment in International Trade
To succeed in today’s global marketplace and win sales against foreign competitors, exporters must offer their customers attractive sales terms supported by appropriate payment methods. Because getting paid in full and on time is the ultimate goal for each export sale, an appropriate payment method must be chosen carefully to minimize the payment risk while also accommodating the needs of the buyer. As shown in figure 1.1, there are four primary methods of payment for international transactions. During or before contract negotiations, you should consider which method in the figure is mutually desirable for both you and your customer.
Figure 1.1. Payment Risk Diagram

Key Points
• To succeed in today’s global marketplace and win sales against International trade presents a spectrum of risk, which causes uncertainty over the timing of payments between the exporter (seller) and importer (foreign buyer).
• For exporters, any sale is a gift until payment is received.
• Therefore, exporters want to receive payment as soon as possible, preferably as soon as an order is placed or before the goods are sent to the importer.
• For importers, any payment is a donation until the goods are received.
• Therefore, importers want to receive the goods as soon as possible but to delay payment as long as possible, preferably until after the goods are resold to generate enough income to pay the exporter.

Cash-in-Advance
With cash-in-advance payment terms, the exporter can avoid credit risk because payment is received before the ownership of the goods is transferred. Wire transfers and credit cards are the most commonly used cash-in-advance options available to exporters. However, requiring payment in advance is the least attractive option for the buyer, because it creates cash-flow problems. Foreign buyers are also concerned that the goods may not be sent if payment is made in advance. Thus, exporters who insist on this payment method as their sole manner of doing business may lose to competitors who offer more attractive payment terms. Cash in Advance/Prepayment occurs when a buyer sends payment in the agreed currency and through agreed method to a seller before the product is manufactured and/or shipped. Upon receipt of payment this seller then ships the goods and all the necessary shipping and commercial documents directly to the buyer.
Time of Payment
*Prior to manufacturing and/or shipping, through the agreed upon method (cash, wire transfer, check, credit card, etc.).
Goods Available to Buyer
*After payment is received.
Risks to Seller
*Product is manufactured and never paid for.
Risks to Buyer
*Seller does not ship per the order (quantity, product, quality, shipping method).*Seller does not ship when requested.
When Appropriate to Quote or Use
*When there is no established relationship between the buyer and seller.*Product is a special order and can only be sold to this specific buyer since it contains company logo, etc.*Seller is confident that importing country will impose regulations deferring or blocking transfer of payment.*Seller does not have sufficient liquidity or access to outside financing to extend deferred payment terms.
Financing
*Buyer must have cash or financing available.

Letters of Credit
Letters of credit (LCs) are one of the most secure instruments available to international traders. An LC is a commitment by a bank on behalf of the buyer that payment will be made to the exporter, provided that the terms and conditions stated in the LC have been met, as verified through the presentation of all required documents. The buyer pays his or her bank to render this service. An LC is useful when reliable credit information about a foreign buyer is difficult to obtain, but the exporter is satisfied with the creditworthiness of the buyer’s foreign bank. An LC also protects the buyer because no payment obligation arises until the goods have been shipped or delivered as promised. A letter of credit is a bank instrument that can be used to even the risk between a buyer and a seller since a buyer is guaranteed to receive payment if when he/she has complied with the exact requirements of this buyer. A letter of credit offers a seller numerous advantages but only if that seller complies exactly with its terms and conditions of the transaction. In addition to providing reduced risk for both a seller and a buyer, there are many variables that can be used with a letter of credit to reduce the political and commercial risks that may accompany the transaction as well as provide extended terms to a buyer through the letter of credit instrument.
The terminology that is used when working with letters of credit is very specific and should be understood.
Involved Parties:
Applicant = Buyer/ Importer
Beneficiary = Seller/Exporter
Opening Bank = Importer’s Bank >> Issues L/C
Advising Bank= Exporter’s Bank >> Advises L/C
Confirming Bank = Advising Bank or 3rd Party Bank >> Confirms L/C
Paying Bank = Any Bank as Specified in L/C >> Pays the Draft
Activities and Terms:
Advice – review and approval of L/C
Amendment – change to L/C
Confirmed – the commercial, political and economic risk of the transaction absorbed by the confirming bank
Discrepancy – mistake in the documentation
Documentation – documents required within L/C
Draft – negotiable order to pay
Sight Draft – payment assured upon shipment and presentation of documents in compliance with its terms
Time Draft – bank assurance of payment at the maturity of the banker’s acceptance with option of obtaining immediate funds by discounting the BA (30, 60, 90 days at sight or acceptance)
Irrevocable – cannot be changed without approval from beneficiary or advising bank
Issuance – opening of L/C
Negotiation – review of documents
Revocable – can be changed without approval of beneficiary or advising bank
Types of L/Cs:
Back-to-Back – credit and terms of a transaction rollover to a new transaction upon completion, which eliminates the need to apply or issue a new L/C for identical shipments
Confirmed – credit risk taken by bank and agreement to pay (fee charged)
Straight – payable only at paying bank
Negotiation – payable at negotiating bank
Sight – payable at acceptance of documents
Standby – used by the beneficiary for payment should the applicant not pay the exporter directly
Transferable – part or all of the proceeds from the L/C may be transferred to another party, used by sales brokers or agents to disguise buyers and sellers
Usance – time draft based on invoice, bill of lading, or documents, up to 180 days

Time of Payment
•As agreed between the buyer and seller and stipulated in the L/C, at sight of documents or acceptance of time draft.
Goods Available to Buyer
•Upon release of documentation and payment or acceptance of time draft.
Risks to Seller
•Delays in availability of foreign exchange and transferring of funds from buyer’s country if the L/C is not confirmed.•Payment blocked due to political events in buyer’s country if the L/C is not confirmed.
Risks to Buyer
•Seller creates documents to comply with L/C but does not ship actual product.•Seller does not ship.•Buyer ties up commercial lines of credit to secure L/C.
When Appropriate to Quote or Use
A seller should consider a number of factors:•corporate credit policy and ability to absorb risk•credit standing of the buyer•political environment in the importing country•type of merchandise to be shipped and value of the shipment•availability of foreign exchange•buyer and seller are establishing a new relationship•when buyer and/or seller’s governments require use of banks to control flow of currencies and products•products and/or services comply with quality steps during production and documentation is presented for payment•used less frequently in international transactions because of the high bank fees and time-consuming process
Financing
•Often a bank will favorably consider a request for an increase in a credit line to finance production of the goods. This is done with the knowledge that letters of credit have been opened and advised to an exporter for an export order. The bank may further require that the beneficiary assign its interest in the letter of credit to them.











FORMAT OF LC





FROM :( NAME & ADDRESS OF OPENING BANK )

TO :( NAME & ADDRESS OF ADVISING BANK )
(FOR Haldia Shipments ) STATE BANK OF INDIA OVERSEAS BRANCH KOLKATA SWIFT CODE
SBININBB106
(FOR Vizag Shipments ) STATE BANK OF INDIA OVERSEAS BRANCH VIZAG SWIFT CODE
SBININBB123
40A TYPE OF L/C :IRREVOCABLE
20 L/C Number :
31C DATE OF ISSUE :
31D DT. & PLACE OF EXPIRY : __________________________________IN INDIA
50 NAME & ADDRESS OF THE:
APPLICANT
51 NAME & ADDRESS OF THE: Steel Authority of India Limited,
BENEFICIARY Central Marketing Organisation,
40 J.N.Road, Calcutta-700001, India
32B AMOUNT OF CREDIT IN :
US DOLLARS /EURO/ANY
OTHER FREELY
EXCHANGEABLE CURRENCY
(IN FIGURES & WORDS)
39A PERCENTAGE CREDIT : AS PER CONTRACT
AMOUNT TOLERANCE
41A CREDIT AVAILABLE WITH: STATE BANK OF INDIA, KOLKATA/VIZAG
CREDIT AVAILABLE BY : PAYMENT
42C USANCE OF THE DRAFTS : AT SIGHT
42A DRAFTS TO BE DRAWN ON:
43P PARTIAL SHIPMENT : AS PER CONTRACT
43T TRANSHIPMENT : AS PER CONTRACT
44A SHIPMENT FROM :
44B SHIPMENT TO :
44C LATEST SHIPMENT DATE :
45A DESCRIPTION OF GOODS :
a) Description of Materials
b) Size ( in mm) (except for Pig Iron) and Quantity (in MT)
c) Specification
d) Tolerance (except for Pig Iron)
e) Quantity
f) Quantity Tolerance
g) Price per MT (in USD/Euro/any other freely exchangeable currency)
46A DOCUMENTS REQUIRED :
1. Beneficiary’s Commercial Invoice - one original plus two signed copies covering materials shipped.
Invoices will be raised on the basis of (THEORETICAL/ ACTUAL/ DRAFT SURVEY) WEIGHT.
2. Full set 3/3 original on board ocean or charter party Bills of Lading (CONGEN) issued to the order of
the Shipper and blank endorsed marked “Stowed under deck” further more marked “freight prepaid/freight payable as per
charter party/ freight to pay” evidencing shipment from __________ Port, India to ________ Port in ________ . Bills of
Lading (CONGEN) with remarks “Materials partly rust stained/ rusty edges/ wet before shipment/ rust stained/ some rusty
edges” and/or “unprotected cargo” and/or “said to be” and/or “said to weigh” and/or “stored in open area prior to loading”
are acceptable.
3. Works Test Certificate in duplicate issued by the Steel Plant (s) of the beneficiary and confirming that
the materials are as per contracted specification.
4. Pre- shipment Inspection certificate issued by M/s ., (herein after referred to as )
certifying the following:
(a) The materials were inspected prior to loading at the load port and that the markings were as per General Terms
and Conditions for Export(FOB) between beneficiary and the opener.
(b) Quantity loaded on board the vessel.
(c) The materials were loaded on board the vessel without apparent damage and were found to be in good order
and condition. That the loading was done under their supervision , and were properly lashed and secured (except for pig
iron) inside the hatches / holds of the vessel.
Remarks such as “materials partly rust stained/ rusty edges/ wet before shipment/ rust stained/ some rusty edges”
and/or “stored in open area prior to loading” and/or “unprotected cargo” appearing on Pre-shipment inspection certificate
are acceptable.
5. Beneficiary’s packing list (except for pig iron) indicating details of the materials shipped - 3 copies.
6. Certificate of origin.
7. Copy of Telex/e-mail or Fax from Steel Authority of India Limited, ________ / CALCUTTA/ NEW
DELHI addressed to the opener’s FAX No. __________ within FIVE working days after the on board Bill of Lading
(CONGEN) date advising the name of the vessel, Bill of Lading (CONGEN, materials an) number and date d quantity,
destination ports in __________ (Country).
47A ADDITIONAL CONDITIONS :
1. Ocean freight is payable by the openers over and above the value of this Letter of Credit.
2. Marine Insurance to be covered by the opener.
3. In the event of (a) the failure of the opener to nominate a suitable vessel within 21 days, including lay days , from
the date of beneficiary’s Notice of Readiness of cargo (herein after referred to as NOR) OR (b) the vessel nominated by the
opener and accepted by the beneficiary failing to arrive at __________ port within 21 days including lay days from the date
of NOR for reasons other than Force Majeure as defined under Clause 10 of the said contract OR (c) the vessel (nominated
by the opener and accepted by the beneficiary) being found unsuitable after its arrival at _______ Port as certified by
independent marine surveyors, this credit is payable at sight at your counters in Kolkata/Vizag against presentation of
beneficiary’s draft drawn on ourselves for 100 per cent value of invoice accompanied by the following documents:
a) Beneficiary's commercial invoice in duplicate.
b) Copy of Beneficiary’s Notice of Readiness,
c) One copy of Works Test Certificate issued by the Steel Plant (s) of the beneficiary.
d) Certificate issued by M/S ..............., certifying that the materials were inspected at the storage yard of the
beneficiary at ______ Port and that the markings are as per requirement of the said contract and that the materials are in
good condition and further that the materials and quantity as per the Commercial Invoice are ready for shipment.
Remarks such as “materials partly rust stained/ rusty edges/ wet before shipment/ rust stained/ some rusty edges’ and/or
‘stored in open area prior to loading’ and/or ‘unprotected cargo’ appearing in the Pre-Shipment Inspection Certificate are
acceptable.
e) Beneficiary’s declaration that suitable vessel has not been nominated by the opener within 21 days including lay
days from the date of NOR OR that the vessel nominated by the opener and accepted by the beneficiary failed to arrive at
________ Port within the agreed lay days for reasons other than Force Majeure as defined in Clause No. 10 of the said
contract OR that the vessel (nominated by the opener and accepted by the beneficiary) being found unsuitable after its
arrival as certified by the independent Marine Surveyors (copy of certificate of Marine Surveyors to be presented in such an
event) as the case may be.
f) Beneficiary’s declaration that (i) the materials as mentioned in the commercial invoice will be held in custody by
the beneficiary at the risk and responsibility of the opener at the storage yard of the beneficiary at Haldia/Vizag Port. (ii)
The materials will be covered by tarpaulin at the cost of the opener. (iii) The Materials shall be held by the beneficiary free
of ground rent for a period of 30 days from the date of payment (against documents negotiated under this clause) and for
storage extending beyond 30 days from the date of payment the ground rent calculated at the rate of USD 1.00 per metric
tonne for 15 days or part thereof upto 30 days shall be paid by the opener to the beneficiary and for the period beyond this
till the date of acceptance of vessels’s NOR, when the vessel finally calls at the loadport, the cost of holding the materials
shall be paid by the opener to the beneficiary at the rate of US $ 1 per metric tonne for every week(s) (7 days) or part
thereof. (iv) Upon nomination of suitable vessel within reasonable time by the opener for taking delivery of the materials for
which payment has been realized by the beneficiary as aforesaid and subject to such vessel arriving at Haldia/Vizag Port
within the agreed lay days, the beneficiary shall at his cost deliver FOB (Stowed) as per terms of the said contract the
materials for which payment has been realized by the beneficiary as aforesaid.
4. Any amendment to the letter of credit without the prior written consent of the beneficiary shall not be taken cognizance of
under this letter of credit.
71B CHARGES :
All Bank charges incurred outside India shall be borne and paid for by the opener.
All Bank charges incurred in India shall be borne and paid for by the beneficiary.
48 PERIOD FOR PRESENTATION :
Within 21 days from the date of B/L.
49 CONFIRMATION INSTRUCTIONS:
Paying Bank may add their confirmation to this Letter of Credit at the request and expense of the beneficiary and
such confirmation shall also apply to any amendment (s) to this credit.
78 REIMBURSEMENT INSTRUCTIONS:
Upon presentation of documents complying in all respects to Letter of Credit terms, the negotiating bank is
authorised to claim on us by tested telex certifying that all terms and conditions have been complied with and that the
relative documents have been forwarded to us by Registered Airmail/ Courier. We undertake to remit within two working
days after receipt by us of your tested telex/swift claim in US Dollars/Euro/any other freely exchangeable currency in
accordance with your instructions. This Letter of Credit is subject to the Uniform Customs and Practice for Documentary
Credits (1993 Revision) International Chamber of Commerce Brochure No. 500. This telex/swift may be treated as the
operative instrument.
All apparent spelling mistakes/mistakes in LC documents, which do not alter
meaning/specification/description/Quantity/value of goods are acceptable and will not count as a discrepancy

Documentary Collections
A documentary collection (D/C) is a transaction whereby the exporter entrusts the collection of a payment to the remitting bank (exporter’s bank), which sends documents to a collecting bank (importer’s bank), along with instructions for payment. Funds are received from the importer and remitted to the exporter through the banks involved in the collection in exchange for those documents. D/Cs involve using a draft that requires the importer to pay the face amount either at sight (document against payment) or on a specified date (document against acceptance). The draft gives instructions that specify the documents required for the transfer of title to the goods. Although banks do act as facilitators for their clients, D/Cs offer no verification process and limited recourse in the event of non-payment. Drafts are generally less expensive than LCs. Using a documentary collection process requires that a seller ship the product and create a negotiable document, usually a draft or bill of exchange. The draft and shipping documents are then processed either through a buyer’s bank (the collecting bank) or through the seller and buyer’s banks. Upon arrival at the buyer’s bank, the buyer is notified to make payment; then the documents are released and used to clear the shipment through customs upon arrival.
The primary advantage of documentary collections is that a seller who extends credit terms to a buyer under a D/A collection obtains an enforceable debt instrument in the form of a trade acceptance. The seller’s rights to payment are protected under the negotiable instruments law of that buyer’s country. In the event this buyer defaults or delays payment at maturity, the possession of the trade acceptance may put the seller in a stronger position before the court than if he/she had sold under open account, in which evidence of indebtedness is provided by the unpaid commercial invoice alone. In addition, a bank presenting a collection on behalf of a seller may obtain prompt payment from a buyer who might be inclined to delay payment if the seller were invoicing under open account.
A documentary collection is best used for ocean shipments where original bills of lading are required. An original bill of lading is a document of title which enables a buyer to gain possession of the goods. When all the originals of a bill of lading are sent to the collecting bank, it is in the interest of the buyer to effect payment in order to obtain title to the goods.
Documentary collections may be more competitive than letter of credit terms because they are less costly and do not require the buyer to tie up his/her local bank credit lines.
There are a variety of terms associated with documentary collections that should be understood:
Buyer = Importer
Seller = Exporter
Remitting Bank = Exporter’s Bank >> receives payment
Collecting Bank = Importer’s Bank >> transmits funds from buyer to seller
Bill of Exchange/Draft – document issued by exporter and used for remittance of funds
Time/Usance Bill of Exchange – tenured at 30, 60, 90, 120 or 180 days, etc.
There are four types of processes available to buyers and sellers:1. D/P – Documents against Payment2. D/A – Documents against Acceptance3. Clean Collection4. Cash Against Documents
D/P – Documents against Payment
The export documents and the bill of exchange provided to a collecting bank are only made available to an importer when payment is made. The collecting bank then transfers the funds to the seller through the remitting bank.
D/A – Documents against Acceptance
The export documents and a time/usance bill of exchange are sent to a remitting bank. The documents are then sent to a collecting bank with instructions to release the documents against a buyer’s acceptance of the bill of exchange.
Clean Collection
The exporter creates a bill of exchange, which is sent without any export documents to a buyer for collection through the remitting bank to the collecting bank. There is less security for an exporter since the documents are sent directly to the importer.
Cash Against Documents
This process lacks the security and legal protection of a documentary collection since the exports documents are sent through a remitting bank to a collection bank without a bill of exchange. It is, however, still a collection through the banking system.
Time of Payment
*Either at sight of documents or acceptance as agreed to by the parties (30, 60, 90 days after acceptance).
Goods Available to Buyer
*Upon arrival of goods after payment or acceptance of draft has been made.
Risks to Seller*Buyer defaults on payment obligation.*Delays in availability of foreign exchange and transferring of funds from buyer’s country.*Payment blocked due to political events in buyer’s country. Risks to Buyer*Seller does not ship per the order (quantity, product, quality, shipping method).*Seller does not ship when requested, either early or late.
When Appropriate to Quote or Use
*Seller and buyer have done some business together and are transitioning away from a prepayment policy.*Seller has some trust that buyer will accept shipment and pay at agreed time.*Seller is confident that importing country will not impose regulations deferring or blocking transfer of payment.*Seller has sufficient liquidity or access to outside financing to extend deferred payment terms.
Financing
*Seller finances buyer through deferred payment terms. *Seller can use trade acceptances, which are negotiable instruments, to obtain financing.*Leverage /or financing comes from domestic/global business.

Open Account
An open account transaction is a sale where the goods are shipped and delivered before payment is due, which is usually in 30 to 90 days. Obviously, this option is the most advantageous option to the importer in terms of cash flow and cost, but it is consequently the highest risk option for an exporter. Because of intense competition in export markets, foreign buyers often press exporters for open account terms since the extension of credit by the seller to the buyer is more common abroad. Therefore, exporters who are reluctant to extend credit may lose a sale to their competitors. However, the exporter can offer competitive open account terms while substantially mitigating the risk of non-payment by using of one or more of the appropriate trade finance techniques, such as export credit insurance. Open account occurs when a seller ships the goods and all the necessary shipping and commercial documents directly to a buyer who agrees to pay a seller’s invoice at a future date.
Time of Payment
•As agreed between a buyer and seller, net 15, 30, 60 day terms, etc., from date of invoice or bill of lading date.
Goods Available to Buyer
•Before payment (depending on how the products are shipped and the length of payment option).
Risks to Seller
•Buyer defaults on payment obligation.•Delays in availability of foreign exchange and transferring of funds from buyer’s country occur.•Payment is blocked due to political events in buyer’s country.
Risks to Buyer
•Seller does not ship per the order (product, quantity, quality, and/or shipping method).•Seller does not ship when requested, either early or late.
When Appropriate to Quote or Use
•Seller has absolute trust that buyer will accept shipment and pay at agreed time.•Seller is confident that importing country will not impose regulations deferring or blocking transfer of payment.•Seller has sufficient liquidity or access to outside financing to extend deferred payment terms.•Used more regularly in international transactions to avoid high banking fees.
Financing
•Seller finances buyer through deferred payment terms.•Seller may be able to obtain bank financing through pledge of receivables.•Selling receivables on a non-recourse basis to a bank.•Leverage and/or financing from domestic/global business.



UCP 600 LEAFLET FORMAT: UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS




ICC Uniform Customs and Practice for Documentary Credits UCP 600 Leaflet Format ICC Publication No. 600L, 2006 Edition UCP 600 Leaflet Format $ 389.95 The leaflet contains the full text of the UCP 600 (including the 12 articles of the eUCP, governing presentation of documents in electronic or part-electronic form) in a handy format: - ICC Publication No. 600L - 8 page, fold-out Leaflet, size 21 x 29.7 cm - Sold in sets of 25 Leaflets UCP 600 came into effect on 1 July 2007. It contains significant changes you will need to know, including: A reduction in the number of articles from 49 to 39; * New articles on "Definitions" and "Interpretations" to provide more clarity and precision in the rules; * The replacement of the phrase "reasonable time" for acceptance or refusal of documents by a firm period of five banking days; * New provisions which allow for the discounting of deferred payment credits; * A definitive description of negotiation as purchase of drafts of documents. The new UCP 600 also contains within the text the 12 Articles of the eUCP, ICC's supplement to the UCP governing presentation of documents in electronic or part-electronic form. Used by letter of credit practitioners worldwide, the Uniform Customs and Practice for Documentary Credits (UCP) are the most successful private rules for trade ever developed. Bankers, traders, lawyers, transporters, academics and all who deal with letter of credit transactions worldwide, will refer to UCP 600 on a daily basis.








What is the UCP 600?

The UCP 600 (“Uniform Customs & Practice forDocumentary Credits”) is the official publication
Issued by the ICC (International Chamber of Commerce).
The UCP provisions have determined the rules of engagement between the various parties to a LC(Letter of Credit) and in particular between the banks
involved in a transaction in some capacity.The current version of the UCP - UCP 500 - has been in force since1993 and is now to be replaced with the revision
titled “UCP 600”
The UCP 600 has taken over 3 years to develop and deliver a more proactive business oriented set of rules for those involved in international trade.


When does UCP 600 come into effect?
The UCP 600 comes into effect from 1st July 2007.All banks are expected to issue new LCs under the UCP 600 guidelines from that date. Existing LCs
covered by earlier versions of UCP will continue until their maturity.




MUST HAVE” KNOWLEDGE ABOUT UCP 600

The revision, which came into effect on July 1, 2007, incorporates a number of changes from the UCP 500. These changes include:

* A reduction in the number of articles from 49 to 39
* New articles on “Definitions” and “Interpretations” providing more clarity and precision in the rules
* A definitive description of negotiation as “purchase” of drafts of documents
* The replacement of the phrase “reasonable time” for acceptance or refusal of documents by a maximum period of five banking days
* New provisions allow for the discounting of deferred payment credits
* Banks can now accept an insurance document that contains reference to any exclusion clause

Everyone involved with a Letter of Credit needs to be knowledgeable about the way these “rules” apply to their transaction. These rules affect all parties involved in transactions covered by documentary credits including:

* Banks and other institutions that issue, confirm, or otherwise process them
* Buyers (applicants) who cause them to be issued
* Sellers (beneficiaries) who look to them for payment
* Service providers such as forwarders, carriers, customs brokers who provide or use the documents that the credits stipulate












NEW UCP 600: Changes & Opportunities”

INTRODUCTION
Documentary Letter of Credit is the main method of payment in international trade transaction. This payment method is considered easy, safe and protects the interest of involved parties. Approximately 14% of world trade payments roughly equivalent to US1 Trillion per year is settled by using Letter of Credit.

COMPLIANCE MANAGEMENT
As per survey of various organizations, more than 70% of documents presented under L/Cwere rejected on first presentation on flimsy discrepancies. While handling letter of credittransaction parties involved has to understand compliance management of commercial & financial documents. Presentation of flawless documents is essential to good export L/C management where banks decide the compliance and payments.


LETTER OF CREDIT & PAYMENT ISSUES
Letter of Credit is considered to be safe instrument for payment settlement in internationaltrade transactions. In certain cases due to efforts of finding motivated discrepancies L/C system failsto produce desired results of protecting interest of involved parties. Documents under L/C arerejected not for late shipment or on the basis of solid reasons but using certain minor defects or misinterpretation of the condition to serve their bad motives. Such approach result in rejecting of the payment or delays causing increase in cost of export transaction. Some of the banks have prescribed charges for discrepancy found in each document to add further cost to L/C transaction.
Disputed cases due to misinterpretation, misunderstanding and misapplication of practices are increasing all over the world.

NEED FOR CHANGE OF RULES
To address these issues and other relating concern, a consulting group at ICC wasconstituted to review latest developments in banks, transport, insurance, international trade environment etc. The objective of UCP is to create a set rules that would establish uniformity in practicesfollowed by involved parties in the handling L/C. UCP represents the work of a private internationalorganization ICC which insists on self regulations. UCP remains the most successful set of private rules for international trade ever developed.

ROLE OF ICC
A significant function of ICC is the preparation & promotion of its uniform rules ofpractices so to ensure same interpretation all over the world. ICC rules of practice are designed by banks merchants and not by local and political considerations. The rules accordingly represent the need, customs & practices of international business. Revision incorporates the change in practices and new problems/issues of the commercial parties. Primary objective is to encourage the flow ofinternational trade. The aim was to create a set of contractual rules that would establish uniformity in practice so that there would be less need to misinterpretation.






Uniform Customs and Practice for Documentary Credits


The Uniform Customs and Practice for Documentary Credits (UCP) is a set of rules on the issuance and use of letters of credit. The UCP is utilised by bankers and commercial parties in more than 175 countries in trade finance. Some 11-15% of international trade utilises letters of credit, totalling over a trillion dollars (US) each year.

Historically, the commercial parties, particularly banks, have developed the techniques and methods for handling letters of credit in international trade finance. This practice has been standardized by the ICC (International Chamber of Commerce) by publishing the UCP in 1933 and subsequently updating it throughout the years. The ICC has developed and moulded the UCP by regular revisions, the current version being the UCP600. The result is the most successful international attempt at unifying rules ever, as the UCP has substantially universal effect. The latest revision was approved by the Banking Commission of the ICC at its meeting in Paris on 25 October 2006. This latest version, called the UCP600, formally commenced on 1 July 2007.

ICC and the UCP

A significant function of the ICC is the preparation and promotion of its uniform rules of practice. The ICC’s aim is to provide a codification of international practice occasionally selecting the best practice after ample debate and consideration. The ICC rules of practice are designed by bankers and merchants and not by legislatures with political and local considerations. The rules accordingly demonstrate the needs, customs and practices of business. Because the rules are incorporated voluntarily into contracts, the rules are flexible while providing a stable base for international review, including judicial scrutiny. International revision is thus facilitated permitting the incorporation of the changing practices of the commercial parties. ICC, which was established in 1919, had as its primary objective facilitating the flow of international trade at a time when nationalism and protectionism threatened the easing of world trade. It was in that spirit that the UCP were first introduced – to alleviate the confusion caused by individual countries’ promoting their own national rules on letter of credit practice. The aim was to create a set of contractual rules that would establish uniformity in practice, so that there would be less need to cope with often conflicting national regulations. The universal acceptance of the UCP by practitioners in countries with widely divergent economic and judicial systems is a testament to the rules’ success.



UCP600

The latest revision of UCP is the sixth revision of the rules since they were first promulgated in 1933. It is the fruit of more than three years of work by the ICC's Commission on Banking Technique and Practice.

The UCP remain the most successful set of private rules for trade ever developed. A range of individuals and groups contributed to the current revision including: the UCP Drafting Group, which waded through more than 5000 individual comments before arriving at this final text; the UCP Consulting Group, consisting of members from more than 25 countries, which served as the advisory body; the more than 400 members of the ICC Commission on Banking Technique and Practice who made pertinent suggestions for changes in the text; and 130 ICC National Committees worldwide which took an active role in consolidating comments from their members.

During the revision process, notice was taken of the considerable work that had been completed in creating the International Standard Banking Practice for the Examination of Documents under Documentary Credits (ISBP), ICC Publication 645. This publication has evolved into a necessary companion to the UCP for determining compliance of documents with the terms of letters of credit. It is the expectation of the Drafting Group and the Banking Commission that the application of the principles contained in the ISBP, including subsequent revisions thereof, will continue during the time UCP 600 is in force. At the time UCP 600 is implemented, there will be an updated version of the ISBP to bring its contents in line with the substance and style of the new rules.





Reference : Nabhi publication
Usha Kiran Rai (Prentice Hall)
M.I Mahajan
INTERNET

By :- Shruti

Dress Notice

All must come in formals from next class ,whichever day going .
so wear the tie too . And is rules are not followed they the following penalty .
- Reduction of half marks per day in case of formals

COPYRIGHTS

This is been informed to all the students that they are responsible for the copyrights of the data which they publish on this blog . So all have to take care of the copyrights of the data too while sending me . I will or the Tejinder Sir does not holds any resposibility in case of copyrights voilation for posting the material .

SOURCES OF SECONDRY DATA

Sources of data (secondary)– by megha and shivani 16 sept 2009
www.indianseaports.com
Introduction- Covers the activities of the 15 Indian sea ports. The domain www.indianseaports .com is owned by Seven Hills Technology &Solutions Ltd, here in referred to as Seven Hills, a company incorporated under the provisions of the companies act 1956 and having its corporate office at Plot no.107, Road no.72, Jubilee Hills Phase-III, Hyderabad - 500033 Andhra Pradesh, INDIA.
Type of information provided-
The ports in India are divided into major ports (11), medium ports (19), minor ports (15), and private ports (4).
This website provides information only to the members, about the Indian ports, like the average number of vessels coming to that port, the routes and it also provides a shipping directory of all the shipment companies which come to India or leave from India.
It also provides a facility for tracking the containers shipped and about the distances between various ports in India and around the world. It provides a detailed account of shore facilities and port restrictions of the various ports and lastly it provides the facility of various maps.







www.indiacatalog.com
Introduction- A web directory where you can find information on any kind of business organization or service provider in India and the related global sites.
Type of information- Several directories are formed under various heads like:
Automobiles, agriculture and forestry, aviation industry, business services, chemicals, computers, IT/ITES, educational, electronics, tourism, immigration, real estate, intelligence, etc.
Directory is also categorized under the city names.
Each head is then further classified like the head business services is be further categorized as:
Banks, financial institutions, courier and shipping services, financial consultants, insurance, health care, investment banks, legal services/law firms, office supplies, trade fair organizations, mutual funds, hospitals, job placement agencies, matrimony, phone cards to India, chambers of commerce, stock exchanges, stock brokers, venture capital firms, ports, foreign banks, money transfer, packers and movers, financial advisors, customer retail, personal services, baby care, etc.
Again under each of these heads the total numbers of recognized agencies are listed and their web addresses are also added for further inquiry.
For each services information on their foreign competitors is also available.






www.sec.gov
Introduction- SEC stands for US Securities and Exchange Commission. The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. SEC is a federal agency established by the securities exchange act of 1934. The SEC’s headquarters are in Washington, D.C., and it has 11 regional offices located throughout the country.
Type of information-
SEC issues various publications for the interest of the investors around the globe.
Its publications include:
American Depositary Receipts
Arbitration
Auditing
Bankruptcy
Banks and Banking
Bonds
Brokers and Brokerages- Online, Electronic Accounts
Certificates of Deposit
Corporations — Directors and Officers
EDGAR (SEC's online database of company reports)
Financial Statements
Fraud - Identity Theft
Futures
Hedge Funds
Insider Trading
Insurance - equity-indexed annuities, life, variable annuities
Investment Advisers, Advisors
Investment Clubs
Investment Companies
Investments - calculators, planning, foreign (non-U.S.), Internet, prepaid tuition, college savings plan, products, choices, research, education, retirement income
Investors –accredited investors, complaints, investigations, foreign (non-U.S.), privacy rights, protections, seniors
Mutual Funds
Options
Promissory Notes
Securities Investor Protection Corp.
Small Business
Stock - Certificates, Dividends, Exchanges, Indexes, Prices
Tender Offers
Trading Securities - day trading, electronic trading, margin, purchase agreements, laws, rules and regulations
US Securities and Exchange Commission - divisions and offices guides, handbooks, research tools.

4. www.ecr.ca
ECR-Efficient Consumer Service
It is an industry cost reducing initiative of North American councils and industries. Its main sponsors are : Electronic Commerce Council of Canada(ECCC) , Canadian Council of Grocery Distributors(CCGD) , ETC.


TYPE OF INFORMATION: Companies throughout the grocery industry are working together to find ways to eliminate inefficient practices that are not value added to the consumers , so they research about this industry and consumers.

PUBLICATIONS: Partners in Customer Service (1997)
1998 EDI Business Process Survey Results
Transportation-A critical link in the grocery industry supply chain (1995)








5. www.economywatch.com/asian-developmentbank

ADB: ASIAN DEVELOPMENT BANK
Bank established for the help of its member countries having head office at Asian Development Bank P.O. Box 789, Manila, Philippines.
sdbs.adb.org

TYPE OF INFORMATION:
Its Statistical Database System stores macroeconomic and social data of its developing member countries.

It has annual data on national accounts, prices, and govt.
Finance, trade, BOP, money and banking, external debt, population and social indicators.

6. www.aimoindia.com

AIMO: ALL INDIA MANUFACTURES ORGANISATION
Established for the help of govt and member countries in making polices and representing in other countries. Its head office is at D7 , Ambattur Industrial Estate , Chennai – 600 058 , India.
Regd. Office: Round table House , 2nd floor , 80/69 Nengam bakkam, high road , Chennai.

TYPE OF INFORMATION: Mainly it provides information on trade shows , trade fairs organizers and exhibitions.
It publishes journals , reports , etc time to time for the help of its members.

7. www.icar.org.in

ICRA: INDIAN COUNCIL OF AGRICULTURAL RESEARCH
It is a govt. organization which conducts and promotes research and training in the field of agriculture and allied sciences.
Head Quarter: New Delhi

TYPE OF INFORMATION: It provides information on agricultural products and irrigation facilities. It provides information on seeds and facilitate research in new generation of seeds.

8. www.bnai.com

BNA INTERNATIONAL:
This is a certified company founded in 1929 and was incorporated as employee – owned company in United States.

TYPE OF INFORMATION:
It gives accurate news and detailed analysis of world wide legal developments. It provides information and suggestions especially on:
INTERNATIONAL TAX, IP, COMMUNICATION AND TECHNOLOGY,
BUSINESS AND FINANCE

LATEST REPORT: ‘GROWING MARKET IN EAST AND SOUTH ASIA’

9. www.thunderbird.edu
www.wiley.com
THUNDERBIRD INTERNATIONAL BUSINESS REVIEW:
This is a JOURNAL which is published by Willey in cooperation with THUNDERBIRD SCHOOL OF GLOBAL BUSINESS MANAGEMENT . It is a peer – reviewed journal that is published six times in a year.
TYPE OF INFORMATION: Its aim is to advance and disseminate research in the field of international business.
This journal covers various aspects and challenges of global business i.e. Human management, marketing , economic, social , political etc.
LATEST PUBLICATION: “AFRICA IS OPEN FOR BUSINESS”
On July 1 2009

10. www.ifad.com
IFAD: INTERNATIONAL FUND FOR AGRICULTURE DEVELOPMENT:
It is a agency of United Nations established in 1977 for the development of agriculture and rural areas.
Head Office: Via Poalo di Dano,
142 Rome, Italy


TYPE OF INFORMATION: It collects information on agriculture and rural areas. It publish its reports on this areas periodically .
PUBLICATIONS: Rural Poverty Report
Advocacy and Public Information

11. www.oecd.com
OECD: ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT:
It is a organization of 30 countries for economic development.
Head Office: OECD
2, rue Andre Pascal
F- 75 775 Paris Cedex 16
France
TYPE OF INFORMATION: It is best known for its outlooks , country surveys , and statistics and you will find that publications cover a wide variety of topics, all dedicated to help govt. and citizens on the challenges of a globalised world.

LATEST PUBLICATION: OECD Economic Survey of Iceland
18 – Aug - 2009

12. UNIVERSITY OF HELSINKI
CITY LIBRARY’S ANNUAL REPORT – 17- Aug – 2009
Report about cruise liners at Baltic Sea and Helsinki
DATA ANALYSIS MINES INFORMATION - JOURNAL
HUB – Helsinki University Bulletin
13. WHO: WORLD METEOROLOGICAL ORGANISATION
Bulletin, Journals, etc on services for transportation
PUBLICATION: Meteorological services to aviation

14. ARC ADVISORY GROUP:
It is a company which do periodic MARKET ANALYSIS
And publish its report time to time
PUBLICATION: Flowmeters – Coriolis – 17- Aug – 2009
Type: Sensors and field devices

Automation Expenditures for Minning and Metal Industry - 6- Jan-2009

Topic covered

1. What to export
2. Where to export
3. When to export
4. Why to export
5. How to export

(a)FT Policy

(b)Methods of payments

Notice

ASSIGNMENT NOTICE
This is informed to all MIB final student that all have to
submit their assigement according to schedule.
Lat date 17sept2009
If not submitted then starting reduction of marks
Half mark per day after due date
CLASS NOTICE
This is intimated to all the mib 3rd students that sir is going to anounce date of test this week any day , so all must come in the documentation and logistics class daily .
date : 30 sept. onwards
Presentation on 6th october
-Megha will present on the Discrepencies finding in Export-import
-Shushil will present on the ICD
ABOUT THE TOPICS
Everybody who is left now , must take their topic for assignment another five marks will reduce directly from their internal .