Podcast
Questions and Answers
What is the main difference between High Seas Sales (HSS) and Merchanting Trade Transaction (MTT)?
What is the main difference between High Seas Sales (HSS) and Merchanting Trade Transaction (MTT)?
- HSS involves selling goods after they arrive at the destination port, while MTT involves direct import of goods into the Domestic Tariff Area.
- HSS involves selling goods within the same country, while MTT involves transporting goods to a foreign country for sale.
- HSS involves selling goods before they arrive at the destination port, while MTT involves transporting goods between foreign countries without entering the Domestic Tariff Area. (correct)
- HSS involves direct import of goods into the Domestic Tariff Area, while MTT involves selling goods within the same country.
What is the purpose of FEMA Declaration cum Undertaking under sec.10 (5), Chapter III of FEMA 1999?
What is the purpose of FEMA Declaration cum Undertaking under sec.10 (5), Chapter III of FEMA 1999?
- To confirm compliance with Foreign Trade Policy (FTP)
- To declare the origin of imported goods
- To state the purpose of the transaction (correct)
- To authorize transactions in the account
Which document is issued by the Customs Department as evidence of import?
Which document is issued by the Customs Department as evidence of import?
- Draft
- Bill of Lading
- Airway Bill
- Bill of Entry (BoE) (correct)
What documents are classified as risk mitigating documents in trade finance?
What documents are classified as risk mitigating documents in trade finance?
In a merchanting trade transaction, where are the products transported from and to?
In a merchanting trade transaction, where are the products transported from and to?
What type of transaction involves selling products to a foreign country?
What type of transaction involves selling products to a foreign country?
What is the primary purpose of trade finance?
What is the primary purpose of trade finance?
Which of the following is NOT a form of international trade mentioned in the text?
Which of the following is NOT a form of international trade mentioned in the text?
How does international trade contribute to economic growth and technological progress?
How does international trade contribute to economic growth and technological progress?
What role do banks play in international trade finance?
What role do banks play in international trade finance?
Which regulatory body monitors international trade transactions?
Which regulatory body monitors international trade transactions?
What do Fund Based and Non-Fund Based credit limits provided by banks help with?
What do Fund Based and Non-Fund Based credit limits provided by banks help with?
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