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Trade Finance Overview Chapter 1

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Questions and Answers

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?

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?

Draft

Bill of Lading

Airway Bill

Bill of Entry (BoE) (correct)

What documents are classified as risk mitigating documents in trade finance?

Insurance policies/certificates Signup and view all the answers

In a merchanting trade transaction, where are the products transported from and to?

Transported from one foreign country to another Signup and view all the answers

What type of transaction involves selling products to a foreign country?

Export Signup and view all the answers

What is the primary purpose of trade finance?

To facilitate international trade transactions Signup and view all the answers

Which of the following is NOT a form of international trade mentioned in the text?

Domestic Sales Signup and view all the answers

How does international trade contribute to economic growth and technological progress?

By expanding markets for domestic units through exchange of goods and services Signup and view all the answers

What role do banks play in international trade finance?

Providing working capital limits to exporters and importers Signup and view all the answers

Which regulatory body monitors international trade transactions?

World Trade Organization (WTO) Signup and view all the answers

What do Fund Based and Non-Fund Based credit limits provided by banks help with?

Facilitating international trade and commerce Signup and view all the answers