Blood Relationship Between Family Members

By | June 14, 2017

Family or Blood Relationship means persons connected by relations like – father-mother, son-daughter, brother-sister, grandfather-grandmother, uncle-aunty, nephew-niece, brother-in-law sister-in-law etc. The list can go on and on adding members from father’s side and mother’s side etc. The list given below is quite helpful for finding out some indirect relationships: S.no Relationship Commonly Used Terms 1 Father’s son (or) mother’s son Brother 2… Read More »

Advantages of a Public Warehouse

By | June 13, 2017

The advantages of a public warehouse are: Storage facilities can be availed at desired locations as and when required, and at a known cost. The goods can be despatched to the warehouses with the warehousemen as the consignee for the clearance of the goods at the railhead and transportation to the warehouse. The goods can be delivered or despatched to… 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 »

Role of Directorate General of Civil Aviation

By | June 9, 2017

The Directorate General of Civil Aviation (DGCA) is the Indian governmental regulatory body for civil aviation under the Ministry of Civil Aviation. The Directorate investigates aviation accidents and incidents. It is headquartered a Safdarjung Airport in New Delhi. DGCA ha fourteen Regional Airworthiness Offices (RAO) in Delhi, Mumbai, Chennai, Kolkata, Banglore. Hyderabad, Thiruvananthapuram, Bhopal, Lucknow, Patna, Bhubaneshwar, Kanpur, Guwahati… 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 »

Ricardian Theory of Trade

By | May 29, 2017

The Ricardian theory of trade focuses on the comparative advantage of the nation. According to the Ricardian theory of trade, comparative advantage determines the pattern of trade. Ricardo asserted that even if a nation does not possess an absolute advantage,  there are changes of gains through trade among the nations by comparative advantage. The Ricardian theory is based on… Read More »

Notes on London Inter Bank Bid Rate (LIBID)

By | May 28, 2017

London Inter-Bank Bid Rate (LIBID) is the rate bid by banks on Eurocurrency deposits. This is a kind of international rate that banks lend to other banks.It is calculated as one eight percentage point lower than the London Inter-Bank Offered Rate (LIBOR). It is also described as the main interest rate at which major banks in The London… Read More »