Articles under Export Import Terms

SION, means

SION under Import and Export   SION is a short form of Standard Input Output Norms. It is also known as IO Norms. Standard Input Output Norms or SION in short is standard norms which characterize the measure of input or inputs sources required to make unit of output for export purpose. Input output norms are pertinent for the items, for example, electronics, engineering, chemical, food items  including fish and marine items, Handicrafts, plastic and leather items and so on

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Types or Forms of Post-shipment Finance

  Types or Forms of Post-shipment Finance: Following special schemes are available in respect of post-shipment finance: (a) Export Bills Negotiated under L/C: If the exporter has obtained documentary letter of credit and has submitted the required documents, as mentioned in the UC, to the bank, the bank negotiates them and sanctions the equivalent amount of post-shipment finance to the exporter, Post-shipment finance is released after liquidating the pre-shipment finance

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Meaning of Post Shipment Finance

Meaning of Post Shipment Finance Post-shipment finance (short-term) refers to the credit extended to the exporters after the shipment of goods for meeting working capital requirement. It is given by the commercial banks after the shipment of goods and submission of commercial documents to them for negotiation or collection. Post-shipment credit (medium and long-term) is given for exports on deterred payment terms for the period of over one year.   //

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Contents of bill of lading

Contents of bill of lading: (a) Name and logo of the shipping line. (b) Name and address of the shipper. (c) Name and the number of vessel. (d) Name of the port of loading. (e) Name of the port of discharge and place of delivery (f) Marks and container number. (g) Packing and container description. (h) Total number of containers and packages. (I) Description of goods in terms of quantity. (j) Container status and seal number. (k) Gross weight in kg, and v

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Mate Receipt

  Mate's Receipt: Mate's receipt is a receipt issued by the Commanding Officer of the ship when the cargo is loaded on the ship. It is a prima facie evidence that goods are loaded in the vessel. Mate's receipt is first handed over to the Port Trust Authorities. After making payment of all port dues, the exporter or his agent collects the mate's receipt from the Port Trust Authorities. Mate's receipt is freely transferable. It must be handed over to the shipping company in orde

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