PROGRAM - MBA - SEMESTER - 3

SUBJECT CODE & NAME - IB0013 Export- Import

management
1. What are the key processes involved in starting export
business?
Key processes involved in starting export business
The various approaches of exporting are classified as follows:

golden rule
selling experience
selling in export
on-time deliveries
communication
testing products
preliminaries for starting export business

Golden Rule: - The Golden Rule primarily focuses on the initial approach of
doing market research successfully in the overseas market. This is an
important issue in exporting. Companies must fully research their markets.
There is also a need for most of companies to consider the changing
overseas design and product requirements in their market assessment.

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2.
Explain in detail procedure for the allotment of
importer-exporter code number?
Procedure for the Allotment of Importer-Exporter Code Number
Opening current account with the bank
The entrepreneur should now open an account with a scheduled commercial
bank initially; one may open an account with the branch of the bank where
the requirement of minimum balance is the lowest. It is however, important
to open the account with the branch that deals in foreign exchange and also
accepts the export-import documents for negotiation and other related
dealings.
Once the bank account has been opened, the business firm is established.
The next step is to apply for the grant of IEC number.

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3. What are the format and contents of an international

export contract?
Format and Contents of an International Export Contract
The contracts are based on the contents rather than the format of a contract
which spells out the terms and conditions. In particular:

specific terms and conditions pertaining to the product/products that are

subject matter of sale/purchase
general terms and conditions

In the first group, quality and specifications of the product are to be included.
These would naturally differ from product to product. It is essential that in
the contract, detailed and careful description is given about the
characteristics, design and specifications of the product. As far as general
conditions are concerned, the standardized position can be a good guide, but
it is

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4.
What are the various Risk management service
available in India?
Risk Management Services Available in India
Depending upon the type and range of risk services required by the
producers/ exporters, a number of sources are available which include some
multilateral and bilateral risk providers as well as some local private
insurance companies. Some brief details are provided on these sources
below:
Multilateral Investment Guarantee Agency (MIGA) It is part of the
World Bank Group, where its role is to promote foreign direct investment into

developing countries. MIGA is a global insurer to private investors and also

an adviser to countries on foreign investment. It is a

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5. Explain in detail about Quality Assurance Certification

procedure to be followed.
Quality Assurance Certification
The model of a process-based quality management system decides the
different input requirements on the grounds of customer needs. It aims at
achieving customer satisfaction through steady improvement in the product
quality. The different elements of a quality management system are as
follows:
Documentation
The Quality Management System needs different documents for
representing:
(a) quality policy and its objectives (b) quality manual and (c) procedures
required to guarantee

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6.
Explain in detail about export opportunities and
capabilities for service sector.
Export Opportunities and Capabilities for Service Sector
As per Central Statistics Office (CSO)s classification, the services have been
divided into four broad categories, namely a) trade, hotels, and restaurants;
b) transport, storage, and communication; c) financing, insurance, real
estate, and business services; and d) community, social, and personal
services.
General Agreement on Trade in Services (GATS) covers a wide range of
economic activities in the category of tradable services. The WTO secretariat
has divided these divergent activities into the following 12 sectors which
have been further sub-divided into 155 sub-sectors. The 12

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