10 Questions
What does export procedure refer to?
Export procedure refers to the execution of an order received from an overseas buyer and includes everything that the exporter is required to do from the receipt of a confirmed order up to the realization of final payment.
Why is it difficult to successfully execute an export order?
It is difficult to successfully execute an export order because exporting goods overseas involves definite procedures and legal restrictions, requiring specialized knowledge in areas such as market surveys, shipping, marine insurance, customs, and foreign exchange formalities.
What are the four stages of export procedure?
The four stages of export procedure are Preliminary stage, Pre-shipment stage, Shipment stage, and Post-shipment stage.
What does the preliminary stage of export procedure involve?
The preliminary stage of export procedure involves organizing, where the exporter should have an organization to look after exports, either by setting up a new organization or adding an export section to an existing one.
What specialized knowledge is required for selling abroad?
Selling abroad requires specialized knowledge regarding certain matters such as detailed market surveys, shipping, marine insurance, customs, and foreign exchange formalities.
What does the preliminary stage of export procedure involve?
Organizing the export organization
Why is it difficult to successfully execute an export order?
Due to legal controls and definite procedures in export trade
What is the main focus of the export market according to the text?
Different from the domestic market
What is covered by the various procedures in the export of goods?
Legal restrictions and controls
What is the purpose of the export procedure?
To execute an order received from an overseas buyer
Study Notes
Export Procedure
- Export procedure refers to the steps involved in shipping goods from one country to another
Challenges in Export Execution
- Successfully executing an export order can be difficult due to various reasons, including differences in language, culture, and business practices between countries
Stages of Export Procedure
- The export procedure can be divided into four stages:
- Preliminary stage
- Planning and preparation stage
- Execution stage
- Post-shipment stage
Preliminary Stage of Export Procedure
- The preliminary stage involves identifying potential foreign customers and markets, and researching the requirements for exporting to those markets
- It also involves obtaining necessary licenses and permits, and determining the export pricing and payment terms
Specialized Knowledge for Selling Abroad
- Selling abroad requires specialized knowledge of foreign trade practices, language, and cultural nuances
- It also requires an understanding of export regulations, tariffs, and customs procedures
Focus of Export Market
- The main focus of the export market is on delivering the right product to the right customer at the right time and place
Coverage of Export Procedures
- The various procedures in the export of goods cover all aspects of the transaction, including preparation of export documents, packing and labeling, shipping, and customs clearance
Purpose of Export Procedure
- The purpose of the export procedure is to ensure that goods are delivered to the foreign buyer in a timely and efficient manner, while complying with all relevant regulations and laws
Test your knowledge of export procedures with this quiz. Explore the intricacies of executing an export order and the various steps involved in successfully completing an overseas transaction. From receiving the order to final payment realization, this quiz will challenge your understanding of the complexities of exporting goods.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
