EXPORT
Role of Import and Export Trade in an Economy
Institutional Framework for Foreign Trade in India
Role of Director General of Foreign Trade and Commerce
Objectives of EXIM Policy
Global trade flows
Contract of International Sale of Goods
INCOTERMS 2010
Imports
Imports and exports are critical for many economies and they are the
defining
financial
transactions
of
international
trade.
Canalized items: These items can only be imported by public sector firms.
For example petroleum products fall under this category.
All countries need toor choose toimport at least some goods and
services for the following reasons:
Protecting Imports
Due to the economic importance of imports, countries enact specific
laws, barriers, and policies in order to regulate international trade.
Protectionism is the economic policy of restraining trade between
countries through tariffs on imported goods, restrictive quotas, and
government regulations.
When
trade
barriers
and
policies
of
protectionism
are
For example, the U.S. imports labor-intensive goods from China. Instead
of importing Chinese labor, the U.S. imports goods that were produced in
China by Chinese labor.
EXPORTS
India also exports services to several countries, primarily to the US. In fact,
India is among the worlds largest exporters of services related to
information and communication technology (ICT). It is also the key
destination for business process outsourcing (BPO).
IMPORTANCE OF EXPORTS
Department of commerce
Subordinate offices
of export
obligations.
2. Commodity Boards:
establishes
sales contracts,
uniform-rules
for
rights and obligations of the seller and the buyer under such contracts.
CISG rules apply automatically to
between
An agreement between a seller and a buyer for the sale of goods. The
contract should, at a minimum, identify the seller and buyer, the quantity
and type of product, delivery time, price and conditions of payment
A. CISG
United Nations Convention on Contracts for th
e International Sale of Goods
Canada Mexico
China Russia
France United States
Germany
return
Purpose
The purpose of the CISG is to provide a modern, uniform and fair regime
for contracts for the international sale of goods. Thus, the CISG contributes
significantly to introducing certainty in commercial exchanges and
decreasing transaction costs.
The sellers obligations with respect to the quality of the goods as well as the
time and place for delivery;
The place and date for payment;
The buyers obligations to take delivery, to examine delivered goods, and to
give notice of any claimed lack of conformity;
The buyers remedies for breach of contract by the seller, including rights to
demand delivery, to require repair or replacement of non-conforming goods, to
avoid the contract, to recover damages, and to reduce the price for nonconforming goods;
INCOTERMS 2010
INTRODUCTION
The Incoterms rules or International Commercial terms are a series of predefined commercial terms published by the International Chamber of
Commerce (ICC) widely used in international commercial transactions. A
series of three-letter trade terms related to common sales practices, the
Incoterms rules are intended primarily to clearly communicate the tasks,
costs and risks associated with the transportation and delivery of goods.
INCOTERMS DO NOT...
Determine ownership or transfer title to the
goods, nor evoke payment terms.
Apply to service contracts, nor define contractual
rights or obligations (except for delivery) or
breach of contract remedies.
Protect parties from their own risk or loss, nor
cover the goods before or after delivery.
Specify details of the transfer, transport, and
delivery of the goods. Container loading is NOT
considered packaging, and must be addressed in
the sales contract.
Remember, Incoterms are not law and there is NO
default Incoterm!