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Documents needed for import and export

Bill of Lading

Sea Waybill

Shipping Note Dangerous Goods Note

Air Waybill

Certificate of Insurance

Iucoterms

CFRThis price includes Cost and Freight,but not insurance, to named port of destination in the buyers country.

CIFThis price covers Cost, Insurance and Freightto named port of destination in the buyers country.

The cost and transportation of the goods, Carriage Paidto named destination in the buyer' s country.

CIPThe cost and transportation of the goods, Carriage and Insurance Paid,to named destination in the buyers country.

DAFThe cost, insurance and transportation of the goods Delivered At Frontier.

DESThe cost, insurance and transportation of the goods Delivered Ex- Ship.

DKQThe cost, insurance and transportation of the goods, unloaded from the ship and Delivered Ex-Quay.

DDUThe cost, insurance and transportation of the goods Delivered Duty Unpaid.

DDPThe cost, insurance and transportation of the goods Delivered Duty Paid.

KXWThis price is the Ex-Workscost of the goods. The buyer arranges collection from the supplier and pays for freight carriage and insurance.

FCAThe Free Carrierprice includes all costs to named point of loading onto container. The buyer pays for onward shipment and insurance.

FASThis price includes all costs to named port of shipment Free Alongside Ship.The buyer pays for loading, onward shipment and insurance.

FOBThis price includes all costs of the goods Free On Board ship (or aircraft) whose destination is stated in the contract. The buyer pays for onward shipment and insurance.

 

6. Main types of trade restrictions: tariffs, subsidies, quotas and cartels

Many nations impose limits on trade. There are four main types of trade restrictions: tariffs, subsidies, quotas and cartels. A tariff is a tax placed on imported goods. Tariffs are of two kinds - revenue and protective. revenue tariff raises money for the government. For this reason, revenue tariffs are generally low so that consumers will continue to purchase the taxed goods. Protective tariffs taxes an imported good so that the ri becomes as high as, or higher than, the similar domestic manufactured product.

Then subsidy can be thought of as tariff in reverse. Instead of taxing the foreign product, the government gives subsidy to the industry that is suffering from foreign competition. Definitely nation can limit the amount of goods that can be imported into the country. Its called quota. Usually, quotas are imposed when tariffs and subsidies have failed to protect domestic industries from foreign competition.

Sometimes group of companies or countries band together to restrict competition. Its called cartel. The members of the cartel agree to limit the supply and control the ri of particular good. Members meet regularly to decide how much to sell and how much to charge for their product.

 

7

The World Trade Organization came into being in 1995. The WTO is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. So the multilateral trading system that was originally set up under GATT is already 50 years old. The past 50 years have seen an exceptional growth in the world trade. The system was developed through a series of trade negotiations, or rounds, held under GATT. The 1986-94 Uruguay Round led to the WTOs creation. In February 1997 agreement was reached on telecommunications services, with 69 governments agreeing to wide-ranging liberalization measures that went beyond those agreed in the Uruguay Round.



The WTOs overriding objective is to help trade flow smoothly, freely, fairly and predictable. It does this by:

o Administering trade agreements

o Acting as a forum

o For trade negotiations

o Settling trade disputes

o Assisting developing countries in trade policy issues, through technical assistance and training programs

o Cooperating with other international organization

The WTO has more than 130 members, accounting for 90% of world trade.

Financial market - a system of relations arising in the process of exchange of economic benefits from the use of money as an asset proxy.

The financial market is a mobilization of capital, lending, cash management and exchange placement of funds in the production. A set of supply and demand for capital lenders and borrowers of different forms of global financial market.

 

A stock market is a primarily a virtual exchange of securities (that is, shares and debentures, which companies use as a means of raising finance) and derivatives (i.e. virtual instruments such as contracts that relate to assets and securities and can be traded). It is virtual in the sense that the market is an intangible concept, rather than a physical place, and as a result of advancing technologies traders can now get involved with little more than a laptop or mobile phone. The market brings together a range of traders of all shapes and sizes - from small.

Stock markets list the securities of publicly traded companies. They offer their shares to the public at large, who are generally concerned with trading on the price point of a given share rather than its yield. Shares can change hands several times on a daily basis, and at insignificant levels the company is unconcerned with who owns those shares.

The price of a share at any given stage is dictated by supply and demand within the market, and rises or falls every time a share is bought or sold. This effectively means that shares are priced by the collective will and attitudes of the market, comprised of all the traders and investment houses that actively trade in those securities.

The price of a share at any given stage is dictated by supply and demand within the market, and rises or falls every time a share is bought or sold. This effectively means that shares are priced by the collective will and attitudes of the market, comprised of all the traders and investment houses that actively trade in those securities.

Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates.

In the foreign exchange market there is little or no 'inside information'. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time.

Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter (OTC) market which means there is no single universal exchange for specific currency pair. The foreign exchange market operates 24 hours per day throughout the week between individuals with Forex brokers, brokers with banks, and banks with banks.

The most prestigious exchange in the world is the New York Stock Exchange (NYSE). The NYSE is the first type of exchange, where much of the trading is done face-to-face on a trading floor.

The second type of exchange is the virtual sort called an over-the-counter (OTC) market, of which the Nasdaq is the most popular. These markets have no central location or floor brokers whatsoever. Trading is done through a computer and telecommunications network of dealers. It used to be that the largest companies were listed only on the NYSE while all other second tier stocks traded on the other exchanges.

 

 


Date: 2015-12-11; view: 1175


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