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

Solution

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.

Some More Questions From International Business - II Chapter

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

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International Business - II

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

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”.

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Write down any three features of international business.

Write down full name of EPZ and SEP.

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Write down any two advantages of WTO.

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