Exp - Imp Docu & Proce (Unit IV)

Department of Commerce and Management
University of Kota, Kota

Export-Import Procedures, Documentation and Management
IB-203
Unit-IV
Export Assistance and Support measures: Import Finance, Preparing for Shipment, Cargo
Insurance, Shipment of Export Cargo, Custom Clearance of Import Cargo
EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

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EXPORT ASSISTANCE AND SUPPORT MEASURES:
IMPORT FINANCE
Imports play an important role in the economy of every country, rich and poor alike. Rich
countries need to import capital goods, raw materials and technology to ensure an optimum
utilisation of their production capacity. They need to import a wide variety of consumer
goods to enable their people to enjoy a high standard of living. Poor countries need to import
technology and capital equipment and sometime strategic raw materials to develop industries
for accelerating pace of their development. In India, for example, the pace of industrialisation
level of exports and consequently the rate of economic growth is heavily dependent upon
imports. A low level of imports usually indicates low purchasing power of its people and also
emergence of recessionary trends in economy. At a firm's level efficient management of
import operations is a critical factor in determining the overall profitability of its imports.
Hence, all through understanding of import financing techniques and practices is necessary
for concerned managers. In this unit, you will learn the regulatory framework and related
exchange control mechanism of import financing and various methods of import financing.
India followed a restricted import policy till mid-eighties, nothing could be imported without
a licence involving cumbersome procedures alongwith intricate documentation. Although
some liberalisation measures were taken in second half of eighties, real breakthrough came
only in 1991.
Steady progress has been made in nineties in replacement of quantitative restrictions,

licensing and discretionary control over imports by deregulation, simplification of procedures
and protection through tariff and exchange rates. Export Import policies of 1992-97 and
1997- 2002 were the steps in this direction.
It is against the background of nature and significance of India's import trade, one has to
understand import financing methods and techniques. Import financing involves making
payment to foreign entities for the goods purchased from them. From the management
decision making viewpoint, it means making decision regarding terms of payment (i.e.
choosing one among several alternatives), arranging funds, involving choice of financial
institution and the instrument to be used for making payment and involving choice of

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intermediary through whom the payment is to be made.
THE REGULATORY FRAME WORK
The principal objectives of India's Export Import Policy is to accelerate the country's
transaction to an internationally oriented economy with a view to derive maximum benefit
from the expanding global market. Various policy objectives are achieved basically through
three legislations.
These are:
1. Foreign Trade (Development & Regulation) Act, 1993 administered by Director General,
Foreign Trade (DGFT) replacing the earlier legislation Import & Export (Control) Act, 1947,
administered by the Chief Controller of Imports & Exports (CCIE).
2. Foreign Exchange Management Act, 1999 administered by the Department of Economic

Affairs, Ministry of Finance and the Exchange Control Development of the Reserve bank of
India. FEMA has been brought is place of Foreign Exchange Regulation Act.
3, Indian Customs and Excise Act, 1962 administered by Central Board of Excise and
Customs.
The rules and operational procedures and changes relating to imports are framed by the
Foreign Exchange Dealers Association of India (FEDAI). In addition, Uniform Customs &
Practice for Documentary Credit (UPDC) formulated by lnternational Chamber of
Commerce, Paris which has a global acceptance, is indispensible to cover transactions under
documentary credits. '
India's import policy is formulated within the framework of obligations of the Membership of
World Trade Organisation (WTO). Hence, the policy does not have a discriminatory and
restrictive dimension. Whatever restrictions on imports continue are the ones which have
been allowed under the WTO regime. In line with WTO provisions for according preferential
treatment of imports from developing countries, India has signed several preferential treading
arrangement with some South Asian Countries and the products which will attract
concessional rate of duty are-also specified.

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Physical control over imports is exercised by DGFT and the Customs Deptt. RBI exercise
financial controls through the guidelines provided to authorised dealers. Of late, tariffs rather
than quantitative restrictions are being used to regulate import trade.
Under the present policy, all goods, except those appearing on negative list can be freely
imported in India. For goods included in the restricted, or banned list, import licence may be
issued by the Director General of Foreign Trade. An import licence is an authorisation which
includes a customs clearance permit (CCP) indicating inter alia, quantity description and
value of the goods, actual user conditions if any, the minimum export value if any, export
obligation, if any, and value addition obligation, if any. Import licences which are issued on
C.I.F. basis, is given in duplicate viz. Customs Copy (for clearance from customs) and
Exchange Control copy for remittances.
For exporting units, certain special facilities have been provided under the present policy.
Under the Export Promotion Capital goods (EPCG) Scheme, capital goods can be imported
at a concessional rate of custom duty, subject to an export obligation to be fulfilled within a
specified period of 5-8 years. Under the Duty Exemption Scheme, the government permits
import of raw materials, intermediates, components, consumables, spare parts, accessories,
packing materials and computer software required for direct use in the product to be exported
duty free under different categories of licences. Advance licence is issued for inputs needed
for export production. It can be issued for physical exports, intermediate supply and deemed
exports.
EXCHANGE CONTROL REGULATIONS CONCERNING IMPORTS
Exchange control regulations refer to rules and regulations framed and administered by the
Reserve bank of India (RBI) under the provisions of Foreign Exchange Management Act,
1999. These regulations aim at pooling resources for national development in the best interest
of the country. Under the provisions of the Act, RBI regulates sale and purchase of foreign
currencies, Commercial banks with a licence to deal in foreign currencies, called authorised
dealers (ADS) buy and sell foreign currencies in accordance with the guidance provided by
the RBI. Let us learn various regulations regarding payment of imports.
Mode of Payment: Exchange control regulations govern sales of foreign currencies to non -
residents against import of goods from any country except - Nepal and Bhutan. It may be

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pointed out that residents of these two countries are residents for the purposes of exchange
control regulations, hence, ADS cannot sell any foreign exchange for financing imports from
these two countries.
Under the existing regulations, ADS provide foreign currencies to importers:
i) for remittance to foreign supplies as advance payments.
ii) Paying the foreign supplies in compliance of their undertaking under the letter of credit.
iii) discounting on purchasing except documents.
iv) advances against shipping documents.
Authorised dealers can open a letter of credit (L/C) to facilitate imports subject to following
regulations:
a) Letters of credit may be opened by banks only on behalf of their customers who maintain
account with them.
b) L/C should be opened in favour of overseas suppliers of shipper of goods.
c) Application for L/C must be accompanied by sale contract and other documentary
evidence relating to the order and its confirmation and import licence, if any.
Authorised dealers have been permitted to sell foreign currencies for making payment
towards imports into India. For this purpose, importers have to submit an application in form
A giving the necessary details including classification of goods based on Harmonized system.
It is also obligatory on the part of an importer to submit exchange control copy of customs
bill of entry to the authorised dealer through whom the relative remittance was made as
evidence that the relative goods for which the payment was made have actually been,
imported into India within three months from the date of remittance.
In respect of imports by post parcel, postal wrappers are required to be submitted as

documentary evidence in support of imports into India.

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Currency of Payment: According to exchange control regulations, payment for imports
should be made in a currency appropriate to the country or through an account appropriate to
the country of origin of goods irrespective of the country from where they are shipped or
supplied. RBI has given a list of permitted currencies and approved methods of payment for
imports in Exchange Control Manual for guidance of importers.
Time limit for settlement of imports bills: Time limit for settlement of import bill is 6 months
from the date of shipment, but authorised dealers can settle without reference to RBI even if
the period of six months has expired, provided the AD is satisfied about the bonafides of the
circumstances.
METHODS OF IMPORT FINANCE
The methods of import financing include: financing under L/C, financing against bills under
collection, financing against deferred payment, financing under foreign credit and finance by
EXIM Bank of India. Let us discuss them in detail.
Financing Import Under Letter of Credit
Letter of credit can be defined as a commitment of bank to pay the seller of goods or services
of certain amount provided he presents stipulated documents evidencing the shipment of or
the performance of services within a prescribed period of time. As a credit instrument and a
means of making and securing payment, the letter of credit is an essential instrument for
conducting world trade today. It fulfils all the requirements provided the regarding its use are
stated in clear and unambiguous terms.
Import letters of credit financing involves three principal stages:
i) Requesting bank to open a letter of credit
ii) Retiring documents under letter of credit
iii) Import Trust receipt facility.
Each time a LIC is opened, the importers has to file a formal stamped "Letter of credit
application and Agreement" in the prescribed form. The application should set forth the
precise terms and conditions under which the importer wishes his bank to establish the credit,

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and describe the documents covering the goods purchased which the bank is to receive in
exchange for payments.
As the correct opening of the credit is the first essential to the ultimate success of the
transaction and as the LIC will-be issued on the basis of information supplied by the importer
in the LIC application. It is absolutely necessary that the information supplied by him must be
complete arid precise. After due scrutiny of the application form, the relevant letters are
issued by the bankers subject to the Uniform Customs And Practice for Documentary Credits,
in order to guard against confusion and misunderstanding.
Letters of credit may be opened by mail or Fax depending upon the urgency of the situation.
It may be revocable or irrevocable. Irrevocable L/C implies that the terms and conditions of
the credit can be amended only with the consent of all the concerned parties, At times, the
importer may ask the issuing bank to get the credit confirmed by another bank. It means that
in addition to the issuing bank (the confirming bank) assumes the commitment to pay
provided the terms of the credit are fulfilled.
Financing against Bills under Collection
In the case of imports not covered by letters of credit, the documents are forwarded by a bank
in the supplier's country, known as the collecting bank, for collection if proceeds from the
importer and payment to the supplier through the remitting bank. In such cases, the collecting
bank would examine the documents and the instructions stated in the covering schedule to
ensure that all the stated documents have been received intact and the bill of lading and the
bill of exchange are endorsed in its favour or blank endorsed.to enable the bank to handle the
documents. The bank than presents the documents to the importer on payment (in case of
sight or DIP Bill) or against written acceptance (in case of usance or D/A bill). Where the
importer is eligible to receive the documents only on payment, he can avail an import loan or
a trust receipt facility, as discussed before. Obligations of various parties involved are
provided in Uniform Rules for Collection (URC) Publication NO. 322 issued by International
Chamber of Commerce, Paris.
Sometimes, shipping documents may be sent by the exporter directly to his importer. In such
a case, the bank may receive clean bills for collection of proceeds. In such cases, banks are

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required to call for documentary evidence of imports such as custom noted invoice, exchange
control copy of bill of entry and import licence, if any.
Payment for bills in respect of imports through post can also be arranged through a bank. In
such cases, tile relative postal receipts must be produced as evidence of shipment through
post and an undertaking to submit postal wrappers within three months from the date of
wrappers.
Financing Imports against Deferred Payment
Imports under deferred payment implies that the supplier has agreed to supply goods on
credit terms extending beyond six months. In such cases, authorised dealer has to refer each
deferred payment case to RBI for prior approval of advance payment, bank guarantee and
instalments (principal and interest) with documents viz. exchange control copy of import
licence, if any, contract copy arid statement of desired facilities.
Appraisal for issue of guarantees or loans is similar to term finance. For importing under
deferred payment, the importer should have sufficient cash generated to pay the due
instalments. He should arrange for payment of advance and down payments from his own
resources which would cover bank's margin requirement. Imported machinery has to be
hypothecated to the bank and the importer should counter guarantee the transaction.
Financing under Foreign Credit
Government of India gets assistance in the form of loans and development credits from
international financial institutions as also foreign governments. These loans are of two types:
tied loans and loans in free foreign currencies. Terms and conditions of each loan along with
detailed instructions regarding the procedure to be followed for opening letters of credit.
Submission of documents etc. are set out in public notices issued by DGFT. RBI also issues
circulars for each foreign credit giving important instructions relating to SLICII imports.
Payment under foreign credit may be made under (a) letter of commitment method (b)
reimbursement method. Under the letter of commitment procedure, remittances from India
for the relative imports are not permitted. The importer in India obtains a letter of
commitment from the Government of India after furnishing a bank guarantee for payment of

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rupee equivalent of the import value. The importer furnishes the letter of commitment to the
bank opening L/C. Then the usual procedure follows,
The shipping documents are delivered to the importer on payment / acceptance. Where no
L/C is opened at all and on receipt of document covering imports rupee deposits are made to
Government account by the importer through the bank.
Import Loans by Export-Import Bank of India
Bank finances imports from third countries required for executing projects overseas for which
contracts have been won by Indian exporters.
Regarding imports into India, Exim Bank finances such imports which are export-related, i.e.
imports by Export Oriented Units, import of computer systems for development and export of
software, import of plant, machinery, technology for upgradation / expansion of production
capability for export markets.
Exim Bank also finances bulk imports of consumable inputs and canalized items. Under this
scheme, promissory notes drawn in favour of commercial banks by their importer borrowers
are discounted, Exim bank will issue letter of commitment for finance on request from
commercial bank indicating its requirement. The quantum of finance depends on the
condition that import order should not be less than Rupees one Crore.
PREPARING FOR SHIPMENT
The first stage in the physical movement of goods from the factory/godown of the exporter to
the importer is to pack, mark and label the consignment in accordance with the requirements
of 'the buyers. The buyer also arranges the proper transport for the movement of goods to the
port of shipment. For this purpose, the exporter must be aware of different modes of
transport, especially for performing the overseas part of the journey. The choice of carrier,
whether an aircraft or a ship, will depend on many factors including product and marketing
characteristics as well as the cost and non-cost factors. In addition to commercial aspects of
movement of cargo to the port of shipment, the exporter is required to comply with an
important legal requirement. In this unit, you will learn about the features of liner and tramp
shipping services, various chartering practices, and methods of quality control and pre-
shipment inspection. You will also study the role of clearing and forwarding agents.

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PACKING OF GOODS
Goods in transit are subject to many hazards. If these are not properly packed, they may be
damaged or lost due to rough handling, crushing weight, corrosion, pilferage, etc. Transport
usually subjects the cargo to mechanical forces such as shocks, vibrations, pressures, and
climatical forces including temperature and moisture. The packaging needs to be strong
enough to withstand the rigours of stowage and multiple handling. Goods, which are not
packed properly, may damage other goods in the same transit. Thus, it is essential that the
goods are properly -racked to protect them, to keep a consignment together, to protect the
goods from damaging the environment and be affected by it.
Containers have become the order of the day. Intermodal transportation is the movement of
cargo from one location to another location via more than one mode of transportation (i.e.
rail, road, river/ocean). Unitisation, in general terms, may be defined as consolidation of a
number of bags, boxes, packs, etc. in a single cargo unit, most important of which is the
container. The purpose of unitisation is to assist the process of cargo handling through
reducing the handling frequency of each cargo unit. Unitisation has particular relevance to the
making up of a number of 'small sized' items into one unit of standard size. .
In international trade, containerisation has become a predominant form of unitised transport.
It enables the transportation of cargo from the warehouse of the exporter to that of the
importers directly.
Containerisation offers many advantages including the following:
i) Speed and economy of handling
ii) Safety both with regard to breakage and pilferage
iii) Greater efficiency due to less re-handling of individual packages
iv) Less packaging cost
v) Less cost of insurance and handling
vi) Door-to-door transport service.

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Marking and Labelling of Goods
Every export package must be properly marked and labelled. Marking, including handling
instructions, help quick and safe transportation of goods. Marking is of two types-marking of
origin and shipping marks. In addition to marking, handling instructions on export packs
must be clearly stated. Where these are given in the form of written language, these must be
in the language of exporting and importing countries. In case of goods requiring careful
handling and storage, the international practice is to give these instructions in the form of
symbols.
NATURE OF EXPORT CARGO
The demand for transport services is a derived demand and the nature of these services is
determined by the nature of goods traffic in international trade. The internationally traded
goods for which different types of transport services are needed may be categorised into three
broad groups on the basis pf their marketing requirements. These groups are: Rush Cargo,
Bulk Cargo and General or Non-Bulk Cargo. In satisfying the immediate marketing needs of
the Rush Cargo, speed is the most important consideration in the decision making process
and hence, such cargo is necessarily to be sent by air.
Bulk Cargo by its very nature, can be carried and stored in large quantities mainly because
their market demand does not frequently change since they are free from attacks of product
development, changes in design, obsolescence, deterioration and depreciation.
General Cargo comprises manufactured, semi-manufactured, processed and semi-processed

goods and materials moving in small quantities in cases, packages, parcels, bales, etc.
LINER AND TRAMP SHIPPING SERVICES
It is clear from the discussion so far that Bulk Cargo requires such kind of shipping services
in which large quantity of one type of cargo can be carried at low per unit cost.
These services are provided by carriers known as Tramps. Quite naturally, there are different
types of tramp ships to carry different kinds of bulk cargo. On the other hand, carriers which
provide regular and scheduled shipping services to carry heterogeneous forgo suiting the

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marketing requirements of General Cargo are known as Liners. A liner ship is built and rule
to satisfy the transport demand of a variety of cargos.
Liner Shipping Service
The liner ship has the following features:
i) It is designed to carry a variety of cargo, with spaces for bales, bundles, boxes,
barrels, drums, etc, as well as for reefer (refrigerated) cargo. The designs of the
holds and number of decks will be different from those of a tramp. With the
increased share of containerised cargo, specially designed container ships for
carrying different categories of containers operate.
ii) The cargo handling equipment on a liner will be varied and sophisticated for quick
loading and unloading of cargo to ensure quick turn-round. A quick turn-round
means that the ship spends the least possible time in the port and most of its time
in transit.
iii) It operates regularly between fixed ports and normally loads in several ports. It
serves a number of discharging ports along a predetermined route.
iv) In order to ensure speedier carriage, it is fitted with sophisticated and expensive
propelling machinery.
v) It provides pre-announced scheduled services on given terms and conditions of
carriage. These terms and conditions mostly relate to the responsibilities and
liabilities of the ship owners in receipt, carriage and delivery of cargo. Liners.
Thus provide services on terms and conditions, which are not negotiable.
vi) It generally offers carriage on fixed and stable freight rates.
Tramp Shipping Service
A tramp carrier has the following characteristic features;
i) It is primarily designed to carry the more simple and homogeneous cargo in large quantity.
It is, therefore, designed to fully utilise its carrying capacity for carriage of one type of cargo.
For example, a grain-carrying ship bvill be designed in such a way that a full cargo of grains
in bulk can be accommodated in the lower holds.

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ii) Since one kind of homogeneous cargo is to be handled, a tramp will have comparatively
simple equipment. Bulk cargos are normality loaded and discharged by mechanical
equipment, elevators, pumps, etc.
iii) Because of the comparatively low unit value of commodities carried, a tramp will be
operated at the lowest possible cost. This objective can be achieved by operating ships having
relatively less speed by fitting less expensive propelling machinery.
iv) A tramp generally carries cargos of one or two ship users. Hence, loading and discharging
are confined to a few ports.
v) It does not have a fixed route and predetermined schedule of departure as it is to be

engaged by one/two users as and when their need arises.
vi) It offers services at terms and conditions, including freight/hire charges, which are not
fixed and given but are negotiable.
CARGO INSURANCE
Cargo insurance, commonly known as marine insurance, occupies an important position in

international business. It provides protection against unanticipated business to participate
more freely in the business and expands the scope of their operations. Cargo insurance
protects the traders and others against the risk of loss or damage to goods in transit from the
seller to the buyer. A trader engaged in international business can protect his interests by
taking an appropriate insurance policy from an insurance company.
NEED FOR CARGO INSURANCE
There are two reasons for securing the insurance cover. The first reason concerns the legal
dimension of limited liability of the carriers and other intermediaries: The second reason
concerns commercial considerations.
Legal Dimension'
When the goods are ill transit from the exporter to the importer, they are, at different stages in
the custody of different agencies and authorities including the clearing and forwarding
agents, carriers, port and customs authorities, etc. If there is any loss or damage to the goods,

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while in their custody of the concerned intermediary rnay be held liable to pay damages of
the cargo owners.
The nature and extent of liabilities of various intermediaries have been defined in the
respective laws enacted by the government all over the world. According to these laws, the
intermediaries cannot be liable for loss to the cargo, if it was caused by reasons or events
beyond their control.
Commercial Dimension
From the point of view of an exporter, a transaction is complete as soon as the importer either
pays for the Bill of Exchange on its presentation or he undertakes to make payment at a
future date by accepting the Bill. Sometimes even before the Bill of Exchange is presented to
the importer. He gets to know about the loss of goods in transit and does not accept the Bill
when presented. In such a situation, the exporter is cornpelled to bear the loss.
NATURE OF CARGO INSURANCE POLICY
A marine or cargo insurance policy has an international character and, therefore, a policy
taken in one country is acceptable in other country. This is because of the adoption of
universally acceptable uniform rules governing insurance in different countries. Marine
insurance in India is subject to the following legislations:
i) The Insurance Act, 1938; and Insurance Rules, 1939
ii) Marine Insurance Act. 1963,
In India, the cargo insurance cover is provided only by the Nationalised Insurance
Companies. These companies operate within the standard rules and regulations including
those, which are provided in the "All India Marine Cargo Tariff'.
Article 3 of the Indian Marine Insurance Act, I963 defines marine insurance contract as "It is
an agreement whereby the insurer undertakes to indemnify the assured in the manner and to
extent thereby agreed, against marine losses, that is to say, the losses incidental to marine
adventure". Before we explain different aspects of the marine insurance contract, it should be
clearly understood that the word "marine" used in the definition does not have any specific

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connotation. Despite the usage of this word, cargo insurance principles as stated in the
definition are equally applicable to all modes of transport used in the carriage of goods.
Indemnity and Insurable Value
-The insurance contract is in the nature of indemnity. The literal meaning of indemnity is
protection against loss. The object of an insurance contract is to place the insured, after a loss,
in the same relative position in which he would have stood had no loss occurred. In other
words, an insured can claim only that much that he has suffered (or lost). If cargo has beer1
damaged by 10 per cent of the insured value, the insured will be paid only that much amount,
even though he has paid premium on the total insured value. But it must also be understood
that the indemnity undertaking of the insurance company is only a "commercial" indemnity
KINDS OF PERILS
The cargo insurance policy can be as wide as to cover all possible kinds of risk and losses to
which cargo could be exposed in transit. The events, which lead to loss or damage to the
cargo, are the perils against which insurance cover can be obtained. Those perils may be
categorised into four groups.
Maritime Perils
These perils are the ones to which cargo is exposed in transit and caused by either an Act of
God (i.e., a natural calamity) or an Act of Man (man-made event, either through negligence
or through connivance), The perils may occur while the cargo is in transit either on land,
inland water, and sea or in air. An act of God may also be described as "extraordinary and
violent action of waves and winds"
Extraneous Perils
These are the incidental perils to which the cargo is exposed. These are caused mainly on
account of the faults in loading, keeping, carrying and unloading of cargo. Examples of such
Perils are: improper storage, rough handling, breakage and leakage, hook and sling damage,
contract with mud oils and acids and theft, pilferage and non-delivery.
War Perils

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War perils covered by the Institute War Clauses refer to following events:
i) War, civil war, revolution, rebellion, insurrection or civil strike or any hostile act by or
against a belligerent power;
ii) Capture, seizure, arrest, restraint or detainment of carrier or craft arising from event
mentioned in (i) above. Thus, confiscation by the customs authorities of goods being
smuggled cannot be insured; and
iii) Derelict (abandoned) mines, torpedoes, bombs or other derelict weapons of war. It is clear
from the above that war risk insurance is not only against hostile warlike acts but also for
perils which continue to exist after war is over.
Strike Perils
In marine insurance, strike perils mean events, which lead to loss or damage to cargo caused
by:
i) Strikes, lock-out workmen or persons taking part in labour disturbances, riots or civil
commissions; and
ii) A terrorist or any person acting from a political motive.
It is clear from the above that strike perils are not only the ones which are caused by the
striking workmen. These also include perils caused by the political activities, which
participate or lead to the strike.
TYPES OF POLICIES
Specific Voyage Policy
A Voyage policy covers the risks that may arise during a journey from specific place to
another.
The terms and conditions of the insurance are set out in the appropriate I.L.U. (Institute of
London Underwrites) and other clauses. The clauses cover mainly the perils and risk covered
under the policy as well as conditions related to the insurable value and claims.

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Open Cover
Open cover is an insurance arrangement designed specifically to the need of those firms,
which have substantial import export turnover, frequent transactions. Such firms are spared
the inconvenience of negotiating insurance contracts every time the transaction is to be made.
Main features of an open cover arrangement are as follows:
i) Unlike an insurance policy, open cover is not an enforceable contract.
ii) Under all open cover arrangement, agreement between the insured and the insurer is
reached about the subject matter (e.g., goods) insured, packing conditions, voyages, risks
covered, rates and other conditions of the cover.
iii) No premium is charged when an open cover is issued, but the insurance companies
usually require the insured to furnish either a bank guarantee or cash deposits towards
payment of premium against each declaration, as declarations are made.
iv) 'The validity period of an open cover is twelve months.
v) It is customary to make an open cover agreement subject to two limitation clauses as Par
Place clauses. The effect of these clauses is to limit the liability of the insurance company to
an agreed amount.
vi) An open cover may be cancelled by either party by giving 30 days notice in writing.
vii) When the loss takes place, claim will be awarded with reference to insurable value
calculated on the basis of c.i.f. plus 10 per cert.
viii) The duty of the insured is to declare each and every segment as soon as known.
Unintentional failure to report shipment will be condoned by the insurance company.
Open Policy
Also known as Floating policy, it has much in a common with the open cover. 'This policy
benefits clients with substantial turnover and a large number of despatches. Thus it covers a
series of consignments with all stipulations of the open cover, except that:

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i) ' Open policy is an enforceable contract of insurance and is hence, duly stamped; and
ii) Open policy is for an agreed amount against which a series of consignments may be
despatched and declared as a result of which the sum insured will gradually diminish by the
amount of each declaration until it is finally exhausted.
iii) Even though the open policy ceases on expiry of one year from the date of its issue, the
sum insured is of paramount importance. Therefore, the sum insured may exhaust prior to the
expiry of the policy.
iv) Open policy is subject to cancellation by either party after giving 15 days notice of
cancellation in writing.
INSURANCE CLAIMS
Responsibilities of the Insured
It is the duty of the insured or his agents, in all cases, to take such measures as may be
reasonable to avert or minimise a loss, Further, it is also his duty to protect rights of the
insurer of recovery from the carriers, port authority and others. In particular, the duties of the
insured or his agent are:
i) Lodge claim on the carriers, port authorities and other intermediaries for any missing
packages;
ii) If the loss or damage is apparent or visible, make an application to the agents of the
carriers, port authority, customs authority and the insurer (or agent) to arrange joint survey
within 3 days of discharge of cargo from the vessel (7 days in case of air consignment);
iii) If the loss was not apparent at the time of taking delivery of cargo, give notice in writing
to the carriers and other parties within 3 days of delivery of cargo (7 days in case of air
consignment);
iv) Lodge a proper monetary claim on carriers, port authority and customs authority;
v) In case of any missing package, get a log entry made with the' port authority and lodge a
claim on carrier and port authority;

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vi) If missing packages are traced subsequently, clearance may be made only after a joint
survey;
vii) The claims on carriers, customs and port authorities should be filed within the time,
limits prescribed under the relevant laws.
Filing Claims
The insured will file claim with the insurance company after meeting the aforementioned
requirements. The insurance company is generally contacted immediately on discovery of
loss to the cargo which will assist the insured in carrying out the responsibilities.
It is quite natural that there is disagreement between the insured and the insurers regarding
insurance claims. In such a case, the insured can take legal recourse against the insurers and
file a legal suit. However, under the Indian Limitation Act, no suit can be filed against the
insurers in respect of a claim under an insurance policy after a lapse of three years.
a) The date of occurrence causing the losses; or
b) The date when the claim is repudiated either partly or wholly.
Documents for Claims
The claims on the insurers should be submitted duly supported by the following documents:
i) Original insurance policy or certificate of insurance duly endorsed by the insured;
ii) ' Full set of Bill of Lading in respect of total loss claims. Otherwise non-negotiating copy
of the Bill of Lading, Airway Bill, Railway, etc., as applicable;
iii) Copy of invoice with packing/weight list;
iv) Insurance survey Report or other documentary evidence to substantiate cause and extent
of lots;
v) Joint ship survey Discrepancy certificate issued by the carriers;
vi) Port authority Landing Remarks certificate;

19
IV)
vii) Casualty report when a vessel is missing or lost;
viii) Ship Master's protest or an authenticated copy of extract from ship's Log book in case
vessel encountered heavy weather or other casualty during the voyage;
ix) In case of short landing claims, a Short Landing Certificate issued by the carrier or import
authority
x) A landed but Missing Certificate from port authority. In case where package has landed
but is missing;
xi) In the event of General Average claim for refund of GA Deposit; the GA Deposit Receipt
and GA Counter-Guarantee;
xii) 'I'riplicate copy of Bill of Entry (in case of India).
xiii) Copies of Letter lodging claims on the carriers, port authority, etc;
xiv) Copies of correspondence exchanged with carriers to examine whether the claimant has
taken necessary measures;
xv) Letter of subrogation duly stamped and signed; and
xvi) Any other document as may be asked for by the insurers.
SHIPMENT OF EXPORT CARGO
At the port of loading, two main formalities are involved: i) Getting permission from the
customs authorities to ship the goods; and ii) Getting permission from the port authorities to
bring the cargo into the shipment shed where the goods will have to be brought for loading
into the carrier. After the goods have been loaded, the exporter, through [he clearing and
forwarding agent, will proceed to obtain "fact of shipment" certification on different
documents.
STAGES OF SHIPMENT
For effecting shipment from ports in India, the exporter, generally through his clearing and
forwarding agent, has to comply with procedural formalities of the customs and port

20
IV)
authorities separately. In addition, he has also to obtain permission from the shipping
companies (or their agents) for bringing the cargo into the shipment shed according to the
"loading plan" of the ship. SpecificaIIy, the stages of the shipment process are:
I) Filing of documents with the customs authorities for checking genuineness of the
transaction and for obtaining examination order;
2) Payment of the port charges;
3) Obtaining permission of the shipping company to bring cargo into the shipment shed;
4) Obtaining permission from the shed superintendent for bringing the cargo into the
shipment shed;
5) Arranging for transport of cargo to move into the shipment shed through Port Gate;
6) Permission of the Gate Inspector to move cargo into the port area;
7) Unloading of cargo in the shipment shed;
8) Examination of cargo by the Customs Authorities and obtaining "Let Export" Order;
9) Obtaining "Let Ship" Order from the customs preventive officer prior to loading;
10) Issuance of Mate's Receipt by the Master of the vessel.
11) Obtaining "fact of shipment" certificate from the Customs Preventive Officer.
CENTRAL EXCISE FORMALITIES
It is common practice all over the world that the exports are not to bear the burden of indirect
taxes. Export goods are either exempted from such taxes or these taxes are refunded, if
exemption is not possible.
The Government of India has laid down procedure for either getting the duty refunded or
exemption from payment of duty.
Excise Rebate Policy

21
IV)
The scheme under which the Central Excise exemption or refund is provided is popularly
describe port procedures involved in the shipment of export cargo. , known as Rebate of
Central Excise. This scheme operates under section 37 of the Central Excise and Salt Act,
1944; as amended from time to time as well as the relevant Excise Rules. According to the
recent amendment in lieu of the Rules 12, 12A and 191A of the Central Excise Rules, only
one Rule 12 operates for exports under claim for rebate of duty.
Procedural Formalities
Refund Procedure under Rule 12: The authorities involved in the Rule are: i) Jurisdictions /
Central Excise Authority known as Central Excise Range Superintendent under whose
jurisdiction the manufacturing unit is located; ii) Maritime Central Excise Authority located
at the port. Rebate may be either claimed from Jurisdictional Assistant Collector of Central
Excise or Maritime collector.
The documents required under Rule 12 are:
i) lnvoices to be filled in four copies.

ii) AR 41AR 5 Form to be filled in six copies.
The procedure followed is as under:
i) The exporters prepare four copies of Invoices giving all detail of the consignment.
ii) The excisable goods which are to be imported under claim for rebate, are be
marked as export cargo in individual packages
iii) These marks and numbers are to be specified on AR4/AR5 Forms. All the 6
copies.
iv) Personal Ledger Account (PLA) is to be filled in specifying the amount of duty
applicable to the export consignment as debit. In PLA the credit balance of the
deposit account spent by the individual manufacturer with the central excise
authority is shown Each time when goods are cleared, the amount of duty
applicable to the goods to be cleared is debited and the balance is shown in the
balance column.
v) 6 copies of AR41 AR5 For usage to be presented to the Range Superintendent
before clearance of the cargo. Under the Self-Removal Procedure (SRP) Presence

22
IV)
of the central excise officer at the factory at the time of clearance is not necessary.
But in those cases where physical examination by the central excise officer is
solicited before the clearance of the cargo, 6 copies of AR4/AR5 Forms should be
presented to the Range Superintendent at least 24 hours before the goods are to be
removed from the factory.
vi) After verifying the details given in the aforementioned documents, tile Range
superintendent allows clearance of the cargo from tile factory for onward
transmission to the Port of shipment.
vii) The original and duplicate copies of AR4/ ARS Forrns are handed over to the
exporter; the triplicate copy is sent to the Maritime Certificate Excise Collectorate
Refund section, having jurisdiction over the port where from the goods are to be
shipped.
viii) The original, duplicate and six tuplicate copies of AR4/AR5 Forms are to be
submitted to the Export Department of Customs House alongwith other shipping
documents to prove that formal central excise clearance has been obtained from
the jurisdictional Central Excise Authority.
ix) If custom officer is satisfied, he would make endorsements in the original,
duplicate and six triplicate copies of AP4/ARS Forms. The officer returns original
and six triplicate copies to the exporter and sends duplicate copy to the Rebate
sanctioning Authority.
x) Rebate claim may be filed either from Maritime Collector or Jurisdictional
Assistant Collector of Central Excise.
xi) Following documents should be filed for claiming rebate:
a) Application in prescribed form.
b) Original copy of AR4/ARS Form.
c) Duplicate copy of AR4 in sealed cover received from customs officer, if

required
d) Duly attested copy of Bill of lading
e) Duly attested copy of shipping Bill (Export promotion copy)

23
IV)
f ) Disclaimer certificate in case where claimants other than exporter
CUSTOM CLEARANCE OF IMPORT CARGO
The concept of customs operation is as old as the trade itself, in the olden days. There was a
tradition followed by traders of offering gifts, etc. to kings to be able to sell their merchandise
in different territories. The same practice has been formalized in the modern economic and
political systems. Goods are subjected to levy of duties, whenever they cross the national
frontiers/boundaries of a country. Despite all efforts in favour of free trade, collection of
revenue is still on priority of the Commissioner in charge of a Customhouse. In this unit, you
will learn the objectives, legal framework, basic information, documents and duties related to
custom clearance of import cargo.
OBJECTIVES OF CUSTOM CLEARANCE
Apart from being a source of revenue, the major objectives of customs clearance are as
follows:
Check smuggling: Those transactions which do not take place in accordance with provisions
of different laws in force in India amounts to smuggling. It is the duty of customs
administration to check such transactions.
Regulate trade: Customs clearance help in regulating trade in accordance with national
objectives and policies. Violation of any provision of the Exim policy as decided by the
Ministry of Commerce ipso-facto is a violation under the Customs Act with regard to various
prohibition and restrictions imposed by the Government.
Agency function: To undertake agency functions i.e. functions performed on behalf of other
agencies. For example, it is the customs responsibility to ascertain that the requirements
emanating from different acts in force are complied with or not. It may be requirements of the
Foreign Exchange Management Act or Quality Control and Pre-Shipment inspection Act.
Collection of trade data: To collect trade data and submit the same to Directorate General of
Commercial Intelligence & Statistics (DGCI & S) Calcutta, Ministry of Commerce, which
brings out trade data in different formats for the use of a) Various Government

24
IV)
Departments/Ministries, b) Trade and Industry, c) Researchers, and others concerned with
international trade.
Data is essential to review the past performance and plan for the features as well as to know
the trends of our trade or unit/value realisation of a particular item etc.
LEGAL FRAMEWORK
To achieve the above mentioned objectives, there is R need to have a suitable legal
framework.
At present, Customs department and Trade & Industry have been provided with guidelines
for smooth functioning based upon the following Acts passed by the Parliament, Foreign
Trade (Development and Regulation) Act, 1992
This Act of 1992 has repealed the Imports and Exports (Control) Act, 1947. Under the Act, of
1947 imports of all goods was prohibited or controlled except those that were specifically
permitted to be imported. Under the Act of 1992, import of all goods is free except to the
extent that some items are regulated by the policy or any other law for the time being in
force. In exercise of the power conferred by section 5 of this Act, the Central Government
formulated the first five year Export Import Policy (1992-97). With positive outcomes of this
policy, now the Central Government has notified the second five year Export Import policy (
1 997-2002).
Under section 3 and 5 of this Act, Central Government i.e. Ministry of Commerce is
authorised to make provisions relating to imports and exports and to formulate export and
import policy. Under the present policy there is a list of items which are completely banned
or restricted (can be imported against a licence) and canalised items (can only be imported
through canalising agency).
The Customs Act, 1962
The customs Act, 1962 governs customs operations. This Act comprises seventeen chapters
spread over 161 sections. These sections empower the Government to decide about the
suitable legal framework to provide guidelines to the Customs Administration and trade &

25
IV)
industry covering all situations connected with export/import transactions. The Customs
Administration functions through two wings:
Appraisement: It deals with authorised transactions which move in accordance with the law,
for which prior permission is granted by the competent authority on the basis of
examination/appraisement of documents submitted by the importer/exporter followed by
physical verification of goods in a prescribed manner. The various sections of the CA, 1962
empower the Government to decide matters such as:
a) The type of ogranisational setup;
b) Approved places for loading and unloading of goods:
c) Responsibilities and formalities of the incharge of the vehicle carrying imported cargo, rate
of duty, nature of duty, date of duty and exchange rate, assessment guidelines, exemptions,
documentary requirements and warehousing procedure etc.
There are also provisions for the aggrieved party to go for appeal against anything done
wrong by one party against another party.
Prevention: Preventive wing keeps watch on the movement of goods involved in

unauthorized transactions which amount to smuggling. Action against such movements is
taken as per laid down procedures under the Customs Act. 'The prevention wing keeps a
watch over the unlawful movements, collects information, investigates, conducts raid, make
seizures and confiscate the goods. Penal action is taken against the defaulter.
Customs Tariff Act, 1975
Details about the rate and nature of customs duty levied on any item, as decided by the
Central Government are specified in the first schedule for imports and in the second schedule
for exports, of the Customs Tariff Act, 1975. This is for the purpose of streamlining the
Customs functioning. The Customs Tariff Act is based on a classification known as
Harmonised System of Nomenclature (HSN). 'There are 21 sections spread over 99 chapters,
covering different commodity groups. Each chapter is further divided in headings and
headings are divided in sub-headings. Onus to establish tariff classification of goods lies with
the department. However, it is advisable that importer must ensure that the classification is

26
IV)
correct. To help understanding and determining of correct classification interpretative rules
and explanatory notes (HSN) can be referred to. It is pertinent to mention here that Customs
Tariff, Excise Tariff, Exill1 Policy, Duty Drawback schedule and Export/Import data are
based on the Harmonised System of Nomenclature (HSN).
Other Acts
You have learnt that it is the responsibility of the customs to ascertain that requirements
emanating from different laws in force are complied with or not. This function is performed
by customs on behalf of other agencies and hence called agency function. Some of these Acts
on whose behalf customs perform agency functions are:
Foreign Exchange Management Act, Tea Act, Coffee Act, Tobacco Act, Arms Act, Textiles
Act, The Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, The
Spices Cess Act, etc.
STAGES OF CUSTOM CLEARANCE
Let us now learn the stages of custom clearance. They are as follows:
1. Presentation of bill of entry along with the relevant documents to the import
document of the Custom House i.e. the concerned group.
2. The bill of entry is checked by the concerned official with the IGM submitted by the
carrier and it is notified.
3. Documents and the information are checked and scrutinised.
4. The bill of entry is marked for assessment and appraisement to the concerned
appraiser.
5. The appraiser makes an assessment on the basis of information given in the
documents and with reference to the classification and value of the goods. The
Examination Order is given.
6. The custom; assessed bill of entry is returned to the Importer ICHA for depositing
duty within a period of 7 days.
7. Duty is deposited with the cash department and at this stage the original COPY of the
bill of entry is detached and sent for record purposes.

27
IV)
8. The documents given to the Importer ICHA for presentation to the Dock
Superintendent for physical examination of goods as per Examination Order.
9. The Dock Superintendent marks the documents to one of the Examiner Inspector
physical examination. The Examiner after examination writes the report and signs on
the reverse of the bill of entry, sends it back to the superintendent for counter
signature and the "out of charge" order is given.
10. The CHA presents the documents to the Port Manager who ensures about any charges
to be paid by the Importer. The same is deposited with the cash department.
PROCEDURE OF CUSTOM CLEARANCE
The procedural formalities for getting imported goods cleared from customs are as per
requirements of section 45-49 of the CA, 1962. Let us learn them.
A. Unloading at Imported Goods: The in-charge of the carrier having custody over imported
goods is under obligation to unlosd the goods in a Customs approved area. The goods after
unloading are not handed over to the actual owner of the goods but are transferred into the
custody of the Port Trust Authority or any other competent agency / person as approved by
the Commissioner. Goods listed in the IOM are allowed to be unloaded in the presence of the
officer of customs. The custodian of the imported gods is under obligation to:
i) keep it record of imported goods and also send a copy of the list of goods to the proper
officer of Customs
ii) hand over the goods to the actual claimant on presentation of documents granting
permission by the Customs.
B. Presentation and Noting of B/E: The importer can present bill of entry in a prescribed form
to the proper officer in the import department either for their clearance for home consumption
(to take the goods at the place where they are needed) or can transfer then) in an approved
public warehouse. Capital goods intended for we in any 100% export oriented unit can be
deposited in a warehouse for a period of 5 years. The period for purpose of warehousing for
other categories of goods is one year. The warehousing period is subject to extension on the
merit of the case as considered necessary by the commissioner.

28
IV)
The bill of entry must contain all goods mentioned in the B/E or any other document as
issued by the carrier to the consigner of goods after taking custody of goods on board the
carrier. The B/E can be presented after the deliverly of the IGM/IR by the incharge of the
carrier. However, it can be submitted before the submission of IGM provided the carrier by
which the imported goods have been shipped for importation into India is expected to arrive
within 30 days from the date of presentation of IGMIIR.
C. Processing of B/E: As soon as bill of entry is presented along with other documents and
the same is notified by the customs with reference the IGM, the customs is under obligation
to process it, make scrutiny of the documents information and declaration given by the
importer and appraise the gods to duty. For this purpose, there are different group appraisal
supported by their staff. The document pass through different hands for necessary action)
endorsement/record. The concerned appraiser her to ensure that goods are not prohibited
goods, the classification and the valuation is correct, the transaction is in accordance with the
requirements of the provisions of different Acts, the party is not on the caution list and the
documents and other requirements have been complied with.
D. Physical Examination of Goods: The Dock Superintendent marks the paper to One of the
inspector or physical examination of goods on random basis, as per Examination Order by the
Appraisal officer (AIO). The contents of the packet are checked as per description and
information given in the bill of entry.
i. Check Second: The above procedure is known as check second i.e documents are first
examined goods are presented to duty and physical examination of goods is done thereafter.
Over 95% of the consignments are subject to check second system.
ii. Check First: where the AIO is not able to identify to goods properly or there is not
sufficient information about the composition/functions/classification of goods in question the
AIO marks the papers to the Dock Superintendent for their physical examination. This is
known as check first system.
iii. Confiscation of Goods: At any of the stage mentioned above, it is notified that the goods
are goods or the Importer has intended to import in violation and contravention of the
provisions of the relevant Acts in operation, penal proceedings may have to be listed and the
goods are liable to confiscation in terms of section III (d). The discretion lies with the

29
IV)
adjudication authority to allow their release to the importer on payment of a fine or to
confiscate them.

30
IV)
SELF ASSESSMENT
State whether the following statements are True or False
i) Time limit for settlement of import bill is 6 months from the date of shipment.
ii) Uniform Customs and Practice for Documentary Credit is not indispensible to cover
transactions under documentary credit.
iii) Import licences are issued on CIF basis.
iv) Authorised dealers can sell foreign exchange for financing imports from Bhutan.
v) Payment of import should be made in a currency appropriate to the country.
vi) Letter of credit cannot be opened by mail.
vii) After paying the negotiating bankers, the issuing bankers release documents of title to the
importer on executing a stamped letter of Trust.
viii) When shipping documents are directly sent to importer by exporter, the bank receives
clean bills for collection of proceeds.
ix) For importing under deferred payment, the importer need not generate cash for advance
and down payments.
x) Government of lndia gets assistance in the form of loans and development credits from
international Financial Institutions.
xi) Speed is the most important consideration in case of Rush Cargo.
xii) Shipping conference helps in minimising losses or maximising profits by combating

competition among ship owners.
xiii) It operates regularly between fixed ports and normally loads in several ports. It serves a
number of discharging ports along a predetermined route.
xiv) Line shipping service is suitable for carrying homogeneous cargo.

31
IV)
xv) l'he demand of bulk cargo frequently changes
xvi) Cargo insurance policy gives protection against loss of goods.
xvii). The cargo insurance contract is meant for the replacement of lost or damaged goods.
xviii) Insurance value for export consignment is calculated on the basis of C& F plus some
percentage.
xix) Maritime perils refer perils when cargo is in the ship.
xx) War perils occur during war and peacetime.
xxi) Particular average refers the partial loss caused accidentally by an insured peril.
xxii) Institute cargo clause B is the most superior cover.
xxiii) The exclusion clause covers those perils, which are not covered under the cargo
insurance contract.
xxiv) The validity period of open cover is 6 months.
xxv) Open policy is subject to cancellation by either party after giving 15 days notice of
cancellation in writing.
Answer: i) True ii) False iii) True iv) False v) True vi) False vii) True viii) True ix) False x)
True xi) True xii) True xiii) False xiv) False xv) False xvi) True xvii) False xviii) True xix)
False xx) True xxi) True xxii) False xxiii) True xxiv) False xxv) True

32
IV)

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Department of Commerce and Management

University of Kota, Kota

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

Steady progress has been made in nineties in replacement of quantitative restrictions,

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

THE REGULATORY FRAME WORK

2. Foreign Exchange Management Act, 1999 administered by the Department of Economic

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

EXCHANGE CONTROL REGULATIONS CONCERNING IMPORTS

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

Under the existing regulations, ADS provide foreign currencies to importers:

i) for remittance to foreign supplies as advance payments.

iii) discounting on purchasing except documents.

iv) advances against shipping documents.

b) L/C should be opened in favour of overseas suppliers of shipper of goods.

In respect of imports by post parcel, postal wrappers are required to be submitted as

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

METHODS OF IMPORT FINANCE

Financing Import Under Letter of Credit

Import letters of credit financing involves three principal stages:

i) Requesting bank to open a letter of credit

ii) Retiring documents under letter of credit

iii) Import Trust receipt facility.

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

Financing against Bills under Collection

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

Financing Imports against Deferred Payment

Financing under Foreign Credit

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

Import Loans by Export-Import Bank of India

PREPARING FOR SHIPMENT

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

In international trade, containerisation has become a predominant form of unitised transport.

Containerisation offers many advantages including the following:

i) Speed and economy of handling

ii) Safety both with regard to breakage and pilferage

iii) Greater efficiency due to less re-handling of individual packages

iv) Less packaging cost

v) Less cost of insurance and handling

vi) Door-to-door transport service.

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

NATURE OF EXPORT CARGO

General Cargo comprises manufactured, semi-manufactured, processed and semi-processed

LINER AND TRAMP SHIPPING SERVICES

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

Liner Shipping Service

The liner ship has the following features:

Tramp Shipping Service

A tramp carrier has the following characteristic features;

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

v) It does not have a fixed route and predetermined schedule of departure as it is to be

Cargo insurance, commonly known as marine insurance, occupies an important position in

NEED FOR CARGO INSURANCE

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

NATURE OF CARGO INSURANCE POLICY

i) The Insurance Act, 1938; and Insurance Rules, 1939

ii) Marine Insurance Act. 1963,

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

Indemnity and Insurable Value

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ii) A terrorist or any person acting from a political motive.

Specific Voyage Policy

EXPORT IMPORT PROCEDURES, DOCUMENTATION & MANAGEMENT (UNIT

Exp - Imp Docu & Proce (Unit IV)

Exp - Imp Docu & Proce (Unit IV)