In an international trade transaction, there is a time lag between the transfer of goods by the exporter to the importer, and transfer of payment by the importer to exporter. To protect both parties from counter-party risk, a number of documents are created and used. These are listed below: 1. Bill of Exchange 2. Bill of Lading 3. Letter of [...]
This article will help you to learn about the difference between domestic trade and foreign trade. Difference between Domestic Trade and Foreign Trade Home or Domestic or Internal Trade 1. Meaning: Purchase and sale of goods within a country is known as internal or home trade. 2. Different Currencies: Home or domestic trade involves the use of only one currency, [...]
After reading this article you will learn about the export procedure for goods in India. 1. Receipt of an Indent or Order: This is the first step in the procedure of exporting goods. Order may be received either directly from the importer through some specialised agency like indent houses. The indent will contain details regarding: (i) Quality of the goods, [...]