☰
✕

International Business - II
Question
Wired Faculty App

Explain the procedure used by importer for making payment to exporter.

Answer

Methods used by importer to make payments :

1. Letter of Credit : The importer may obtain a letter of credit from his bank in favour of the exporter.

2. Bill of Exchange : The importer can make payment by accepting and honouring the bill of exchange drawn on him by the exporter. The bill of exchange is also known as documentary bill of exchange.

Sponsor Area

Some More Questions From International Business - II Chapter

Briefly explain “Advance license scheme” announced by Government of India to promote foreign trade.

Briefly explain “export promotion capital goods scheme”.

Which documents must be submitted to obtain IEC number ?

What is the main objective of WTO?

Write down any three features of international business.

Write down full name of EPZ and SEP.

Write the full name of GATT.

Write down any two advantages of WTO.

When was IMF established ? It is the specialised agency of which international institution ?

 Write down three objectives of IDA.