Category Archives: Business

Organization Structure: Roles and Importance

By | January 14, 2018

Organization structure is a framework that managers devise for dividing and coordinating the activities of members of an organization. Because strategies and environmental circumstances differ from one organization to next. There are varieties of possible organization structures. Organisation structure can be viewed as established pattern of relationships among the components of the organization. In large and complex organizations.… Read More »

Fayol’s 14 Principles of Management

By | January 13, 2018

Henri Fayol was a French management theorist whose theories in management and organization of labor were widely influential in the beginning of the 20th century. The 14 management principles from Henri Fayol are: Division of Labour: The most people specialize the more effectively they can perform their work. This principle is epitomized by the modern assembly line. Authority: Managers… Read More »

Objectives of India Export-Import Exim Policy

By | September 12, 2017

A new export and import policy were framed in 1992 which was effective till 1997. Since then new changes have been made in the policy to achieving the following objectives: To enhance the level of exports; To improve the balance of payment; To improve the balance of trade; To enhance the reverse of foreign exchange; To allow import… Read More »

Export (Quality Control and Inspection) Act, 1963

By | August 3, 2017

The Export (Quality Control and Inspection) Act was enacted in the year 1963 to strengthening the export trade through quality control and pre-shipment inspection. The act empowers the government not only to notify the commodities which may be subjected to compulsory quality monitoring and inspection before export but also specify the type of quality control or inspection. The Act… Read More »

Commercial Shipping Features

By | July 13, 2017

The salient features of commercial shipping can be summarized as under: Shipping of goods is an international activity perpetually exposed to change in the international environment. Commercial shipping is subjected to periodic cycles of depression and buoyancy in business. The highly capital-intensive nature of the industry necessitates Large financial resources, and Adequate utilization of capital. International mobility of ships… Read More »

Contents Required in Commercial Invoice

By | June 9, 2017

After the pro-forma invoice is accepted by the importer, the exporter must prepare a commercial invoice.  The commercial invoice is required by both the exporter (to obtain the necessary export documents, to enable the consignment to be exported, to prove ownership and to enable payment) and importer (who require the commercial invoice to facilitate import of goods into the country… Read More »

Notes on Deemed Exports

By | June 5, 2017

‘Deemed Exports‘ refers to those transactions in which the goods supplied do not leave the country and the payment for such supplies in received either in Indian rupees or free foreign exchange. The following categories of supply of goods by the main/sub-contractors shall be registered as “Deemed Exports” under this policy provided the goods are manufactured in India: Supply of… Read More »

Advantages of Multimodal Transport

By | June 2, 2017

Multimodal transport is commonly known as referring to a transport operation that is carried out using different modes of transport such as railway, waterway, and airway. A single operator organizes it. Multimodal transport is a legal concept strictly defined in the United Nations Convention on the International Transport of Goods and other international instruments, where the specified liability… Read More »

Duties of Exporter and Importer Under CIF Contracts ?

By | June 1, 2017

CIF (Cost, Insurance and Freight) contract has the following duties for exporter: Supply the goods in conformity with the contract sale, arrange at his on expense for the shipping space by the usual route and pay freight charges for the carriage of goods; Obtain at his own risk and expense all documentation regarding governmental  – authorization necessary for… Read More »