Question
Give the steps involved in the import of goods taken by one country.
Solution
1. Trade enquiry.
2. Procurement of import license.
3. Obtaining foreign exchange.
4. Placing order.
5. Obtaining letter of credit.
6 Arranging for finance.
7. Receipt of shipment advice.
8. Retirement of import documents.
9. Arrival of goods.
10. Customs clearance and release of goods.
