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IMT-73: Export Planning & Procedure-MT2

IMT-73: Export Planning & Procedure-MT2

 

IMT – 73 : EXPORT PLANNING AND PROCEDURE

PART – A

Q1. Define Meaning of Exports. Outline various types of Exports

 

Q2. Explain the procedure of setting up an export business firm

 

Q3. Why are Export Sales Contracts important in export transactions?

 

Q4. What are the standard clauses of an export order?

 

Q5. What are the stages of processing an export order? Can goods be exported by post and Courier if yes outline the steps

 

PART – B

 

Q1 An export agent is a person active in the export market, what is the rational of appointing an export agent and what points are to be kept in mind for appointing an agent

 

Q2 What are the Principal Issues of export credit

 

Q3 What is the importance of export financing .Explain the relationship between trade finance and trade development strategy

 

Q4 Explain pre shipment finance .What is packing credit

 

Q5 What are the factors affecting exchange rate

 

PART – C

 

Q1. How can risk of fluctuations be covered by commercial banks  describe features of forward cover

 

Q2. Outline various types of Quality management system standards used in exports

Q3. Does Labeling play a role in export packaging

 

Q4. What is the need for export documentation? Explain types of commercial shipment documents

 

Q5. Is the letter of credit issued by bank What are the various types of L/C

 

 

CASE STUDY – I

 

G-7 PRESSURES JAPAN, CHINA ON EXCHANGE RATES

 

The tensions had been building up for quite some time. And it was high time. Japan's and Chinas trade surpluses with the US have been skyrocketing with the former in the vicinity of $70-80 billion and the latter as much as $ 150 billion.

 

Very noticeable in normal times, they have become even more so as the US grapples with the worst employment market it has had in recent years.

 

US industry and labour have long complained that the Japanese and Chinese currencies are kept artificially weak. Japan's main hope inks worst economic crisis after the last world war is exports. And exports obviously require a cheap currency. Things generally worked well for Japan from the second half of the nineties when, at its low, the yen fell to 150 a dollar.

 

But the last year or so has seen a reversal, with the US economy and stock market going through difficult times. The dollar's attraction has waned.

 

The yen has retraced quite a bit of ground to rise to 120 levels against the greenback, where Japan has been trying to draw a line in the sand to prevent it from rising further.

 

Its interventions to stop its currency from breaking below 115 are too numerous to be counted. In this, so far, it has had US support.

 

That may now be changing. The US is unlikely to sit back and watch imports carving out an ever-greater share of its domestic market.

 

Its policy makers are starting to think that it is unfair to use the exchange rate to drive exports. Hence, the mounting pressure on Japan and china to allow their currencies to appreciate. This will not only reduce imports, but also make US goods more competitive in international trade, if not a growth driver.

 

Mr. John Snow, the present US Treasury Secretary, comes from industry. His concerns and perspective are very different from those of his predecessor, Mr. Robert Rubin, an ex-banker who enunciated the strong dollar policy.

 

Mr. Snow and the Bush administration are anxious to stem the loss of jobs in US manufacturing with the presidential election looming up next year.

 

They are likely to jettison (if they have not already done so) the exchange rate and promote the domestic economy.

 

Thus, the call in the G-7 finance ministers' meet in Dubai over the weekend to allow market forces to determine exchange rates.

 

The market was not slow to react to the new stance of the world's most powerful economic czars. The dollar fell across the board: to below 112 yen, around 1.15 against the euro and 1.65 against sterling. The US Treasury yields climbed up as the market saw less demand for US bonds from foreign investors, given the depreciating currency.

 

China has overtaken Japan as the biggest exporter to the US.

There is equal pressure on the Chinese to allow their currency to appreciate.

It will be hard to resist this, although an immediate switch to a complete float looks Unlikely.

Turbulent times are ahead in global currency and bond markets.

 

QUESTIONS

1. How do Japan and China manage their currency?

2. What are the unfair means used by both China and Japan to stabilise their exchange rates for driving their export boats?

 

 

CASE STUDY – I

 

Counterfeiting

 

Once a business has obtained intellectual property protection, it then faces the far more difficult problem of enforcing those property rights in the worldwide market-place. The most significant Problem is one of pirated or counterfeit products, especially for popular products. Both, governments and individual businesses, have interests in stopping piracy and some grey market practices .

 

Business Responses to Counterfeit Goods

 

As anyone who has walked down a city street and been offered counterfeit Gucci bags, pirated cassette tapes, or bogus Levis 501 jeans knows, it is not easy to protect intellectual property rights. The counterfeit merchandise looks, on the surface, to be the real article, but is really a knock off, taking a free ride on the advertising and popular success of the genuine product.

 

Intellectual property piracy has three consequences for the legitimate trade mark, patent or copyright holder. First, it deprives the owner of Revenue from the creation of product, since the bootlegger pays no royalties. Second, when the quality of the counterfeit goods is poor buyers who thought they were getting the real product will think poorly the company owns the intellectual property rights. Finally, the bootleg sales deprive the legitimate dealers of sales, which affect the success of the distributors' relationships with the right owner.

 

Of course, when a property rights owner finds someone selling counterfeit goods in any Country where the owner has intellectual property rights, in action for copyright, patent or trade mark infringement is appropriate. Generally, most nations also allow customs officials to seize infringing goods upon import. US law contains some representative provisions allowing customs to stop infringing products at the border. Section 602 of the Copyright Act, for example, prohibits the import of products that infringe on US copyrights, and allows customs to seize any such products (see 17 USC 602). Similarly, Section 526 of the Tariff Act of 1930 ( 19 USC 1526) prohibits imports of goods bearing a US registered trade mark without authorisation from the trade mark owner, and also allows customs to seize those goods. Section 337 of the Tariff Act of 1930 (19 USC 1337) provides similar protection from imports that infringe US patents.

 

In 1988, Congress strengthened the methods available for blocking infringing goods from import. Using Section 337 of the Tariff Act of 1930 (19 USC 1337), any owner of a registered US intellectual property right, who believes that an import infringes on that right, may apply to the International Trade Commission (ITC for relief. The ITC has the power to issue orders excluding goods from the United States, ordering unfair trade practices to cease, and, in some instances, ordering forfeiture of the offending goods.

 

Questions

1 What are the reliefs available to a genuine producer of patented product

 

2 Was the US CONGRESS justified in imposing Section 337 of the tariff act

 

3 Does a company having Intellectual property protection is insured of no infringement world over

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