International Business Test - 30

Ex-Bond Bill of Entry:- This Bill of Entry is prepared when the importer wants to get delivery of goods from the bonded warehouse. This is green in color.

Mutual exchange of knowledge, technology and patent is known as cross-licensing. This usually happens in case of joint ventures or mergers between two companies.

In a joint venture, both the foreign and local entrepreneurs jointly form a new firm. The foreign business firm benefits from a local partners knowledge of the host countries regarding the competitive conditions, culture, language and other enivronmental variables, thus bringing the firm closer to international markets. 

A joint venture is a commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities.

When obtaining an export license, certain documents are typically required to complete the process. These may include the registration cum membership certificate (RCMC), Import Export Code (IEC) number, and bank account number. However, a letter of credit (LC) is not typically required for obtaining an export license. A letter of credit is a financial document used in international trade transactions to ensure payment between the buyer and seller. While it may be relevant for the payment process during the export transaction, it is not directly associated with obtaining an export license. 

Ship building normally takes place in a specialized facility known as a shipyard. Ship builders, also called shipwrights, follow a specialized occupation that traces its roots to before recorded history.

The heavy items need to be packaged properly for their safe and damage free export to the destination, this kind of packaging also needs high amount of resources and are costlier.

Ironically, India holds 2nd rank overall in the world in exporting ayurvedic medicines.Thus, India doesn't import herbal/ayurvedic medicines at all.

The duty drawback scheme is a mechanism that aims to encourage exports by providing refunds on certain duties, taxes, and charges paid on imported materials used in the production of exported goods. Typically, this scheme includes refunds of customs duties, excise duties, and export duties. However, income dock charges at the port of shipment are not typically part of the duty drawback scheme. Income dock charges are fees related to the use of port facilities and services, and they are not directly related to customs or excise duties.

The Bill of entry is not a part of export documents. 

Bill of entry: An account of goods entered at a customhouse, of imports and exports, detailing the merchant, quantity of goods, their type, and place of origin or destination. It is issued by the customs presenting the total assigned value and the corresponding duty charged on the cargo.