Bank Guarantee Quiz

In case Government departments and PSUs are not in a position to obtain Bank Guarantee then waiver of Bank guarantee from ____________________ is required

• Ministry of Finance

• Transport Ministry

• Aviation Ministry

• Commerce Ministry

The value of import in non-physical form like software should be certified by

• Chartered Accountants

• Customs

• Port Authorities

• Ministry of IT

The import and export part of the transactions in Merchant Trade should be completed within

• 9 Months

• 15 Month

• 6 Months

• 3 Months

In case of import of Goods, Bank Guarantee from an International bank of repute is required if the amount of advance import remittance exceeds __________________________

• USD 200000

• USD 500000

• USD 1 Million

• USD 250000

The clause in Bank Guarantee where amount to be paid by the bank in case default or the time period cannot be established with certainty such clauses are called

• Onerous Clause

• Notwithstanding clause

• Default clause

• Penalty clause

In Merchant Trade transactions, advance payment for import allowed up to

• USD 500000

• USD 250000

• USD 750000

• USD 400000

Ex-works,FOB,CFR etc are types of

• INCOTERMS

• Letter of Credit

• Bank Guarantee

• Documentary Collection

Bank Guarantee can be applied by the customers through

• Branch and Trade online

• Only Branch

• Branch and Trade Emerge

• Branch and Trade one view

The evidence of goods imported to India is ______________________________-

• Bill of Entry

• Shipping Bill

• EDF

• Bill of Lading

The set of rules on the Issuance and use of Letter of credit is mentioned in

• UCP-600

• URDG-758

• URC-522

• URR