Imports Chapter 13 - Control Act and Payment Methods

According to the passage, which mode of payment is allowed for imports into Pakistan?

Letter of credit

What is the condition for allowing Ex-works (EXW) imports according to the passage?

Both a and b

For import of goods on incoterms other than those mentioned in the paragraph, what is required?

Prior permission of the Foreign Exchange Operations Department, SBP (BSC) Bank

What is the purpose of the Electronic Import Form (EIF) in WeBOC mentioned in the passage?

All of the above Signup and view all the answers

Which of the following is NOT a mode of payment for imports into Pakistan mentioned in the passage?

Telegraphic transfer Signup and view all the answers

What is the purpose of the regulatory instructions mentioned in the passage regarding modes of payment for imports?

To monitor and control the foreign exchange used for imports Signup and view all the answers

Which of the following is NOT a permitted type of letter of credit for imports?

Revolving letter of credit Signup and view all the answers

What is the purpose of the Imports and Exports (Control) Act, 1950 mentioned in the text?

To control the import and export of goods Signup and view all the answers

Which of the following is a mode of payment for imports?

All of the above Signup and view all the answers

What is the purpose of the Electronic Import Form (EIF) in WeBOC mentioned in the text?

To facilitate the import process through the Pakistan Single Window (PSW) Signup and view all the answers

Which of the following is a term of imports?

All of the above Signup and view all the answers

Which of the following is NOT mentioned in the text as a mode of payment for imports?

Remittance in excess of the amount of letter of credit Signup and view all the answers

What type of Letter of Credit is not permitted according to the given text?

Both (a) and (c) Signup and view all the answers

What should an Authorized Dealer do if they receive an application for opening a clean or transferable Letter of Credit?

Refer the application to FEOD, SBP (BSC), Karachi with full particulars Signup and view all the answers

Under what circumstances is it not permissible to issue a Letter of Credit or register a contract for import of goods into Pakistan?

All of the above Signup and view all the answers

What is the first step in making import payments on the basis of registration of a contract without opening a Letter of Credit?

The importer submits a copy of the contract/purchase order/proforma invoice/indent to the Authorized Dealer for registration Signup and view all the answers

What document is required for an Authorized Dealer to verify the increased quantity of goods in a consignment?

Both (a) and (c) Signup and view all the answers

According to the given text, which of the following statements is true regarding imports into Pakistan?

Imports are prohibited if the exporter is subject to UN Sanctions Signup and view all the answers

Imports Chapter 13 - Control Act and Payment Methods

Questions and Answers

According to the passage, which mode of payment is allowed for imports into Pakistan?

What is the condition for allowing Ex-works (EXW) imports according to the passage?

For import of goods on incoterms other than those mentioned in the paragraph, what is required?

What is the purpose of the Electronic Import Form (EIF) in WeBOC mentioned in the passage?

Which of the following is NOT a mode of payment for imports into Pakistan mentioned in the passage?

What is the purpose of the regulatory instructions mentioned in the passage regarding modes of payment for imports?

Which of the following is NOT a permitted type of letter of credit for imports?

What is the purpose of the Imports and Exports (Control) Act, 1950 mentioned in the text?

Which of the following is a mode of payment for imports?

What is the purpose of the Electronic Import Form (EIF) in WeBOC mentioned in the text?

Which of the following is a term of imports?

Which of the following is NOT mentioned in the text as a mode of payment for imports?

What type of Letter of Credit is not permitted according to the given text?

What should an Authorized Dealer do if they receive an application for opening a clean or transferable Letter of Credit?

Under what circumstances is it not permissible to issue a Letter of Credit or register a contract for import of goods into Pakistan?

What is the first step in making import payments on the basis of registration of a contract without opening a Letter of Credit?

What document is required for an Authorized Dealer to verify the increased quantity of goods in a consignment?

According to the given text, which of the following statements is true regarding imports into Pakistan?

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