Chap - 19 Documents used in External Trade

What is an Indent?

• • a) An invoice for goods

• • b) An order placed by the importer for the goods

• • c) A receipt of payment

• • d) A form used to clear customs

What does a Letter of Credit guarantee?

• • a) The delivery time of goods

• • b) Payment to the exporter by the importer’s bank

• • c) The quality of goods

• • d) The packing of goods

Which document acknowledges receipt of goods and undertakes to deliver them at the port of destination?

• • a) Insurance policy

• • b) Bill of Lading

• • c) Export Invoice

• • d) Documentary Bill

What is the purpose of the Advice Letter by the forwarding agent?

• • a) To notify the importer about customs duties

• • b) To confirm shipment of goods

• • c) To provide payment details

• • d) To verify the receipt of goods

What does a Documentary Bill against Payment require?

• • a) The goods must be delivered before payment

• • b) The documents are delivered to the importer after payment

• • c) The buyer must sign the bill of exchange

• • d) The importer must accept the goods before payment

Who issues the Insurance Policy in the case of CIF contract?

• • a) Importer

• • b) Exporter

• • c) Shipping Company

• • d) Bank

What does the Shipping Bill help with?

• • a) Identifying the buyer

• • b) Calculating customs duties

• • c) Issuing a bill of lading

• • d) Issuing a letter of credit

What is a Mate’s Receipt?

• • a) A receipt confirming shipment by air

• • b) A document issued by the dock authority when goods are loaded on a ship

• • d) A receipt for payment of dock charges

• if goods are directly taken into the ship, the captain or his assistant (mate) gives a receipt as a proof of goods loaded in the ship

What is a Dock Challan used for?

• • a) To prove receipt of goods

• • b) To pay dock charges

• • c) To register the exporter’s business

• • d) To issue a shipping order

Which document certifies that the goods have been produced in the country mentioned on it?

• a) Bill of Entry

• • b) Airway Bill

• ) Certificate of Origin

• d) Consular Invoice