Collins Aerospace Material Engineer Interview Questions and Answers

Customs clearance process involves verifying and processing goods entering or leaving a country, including assessment of custom duties.

• Customs clearance involves submitting necessary documents like invoice, packing list, and bill of lading.

• Customs officials inspect goods to ensure they comply with regulations and assess duties based on value, quantity, and type of goods.

• Customs duties are taxes imposed on imported or e...read more

Important terms & conditions on a tender include payment terms, delivery schedule, quality standards, penalties for non-compliance, and bid validity period.

• Payment terms: Specify when and how payments will be made.

• Delivery schedule: Outline the timeline for delivery of goods or services.

• Quality standards: Define the expected quality of the products or services.

• Penalties for non-compliance: Detail consequences for faili...read more

Integrity Pact is a tool to prevent corruption in procurement contracts. Independent External Monitor is appointed by both parties involved.

• Integrity Pact is a tool used in procurement contracts to prevent corruption by ensuring transparency and accountability.

• It is a written agreement between the contracting authority and the bidders, committing them to refrain from bribery and collusion.

• An Independent External Monito...read more

Arbitration is used prior to going to court to resolve disputes outside of the legal system.

• Arbitration is a form of alternative dispute resolution where a neutral third party helps the parties reach a settlement.

• It is often faster, less formal, and more cost-effective than going to court.

• Arbitration allows for more flexibility in the process and can help maintain relationships between the parties involved.

• The decision...read more

Scrap disposal in PSU involves following specific procedures and terms, including disposal of waste oil.

• Scrap disposal in PSU typically involves segregating different types of scrap materials such as metal, paper, and plastic.

• Terms commonly used in scrap disposal include salvage value, scrap value, and scrap yard.

• To dispose of waste oil, it is important to follow environmental regulations and guidelines for proper disp...read more

TCS stands for Tax Collected at Source and TDS stands for Tax Deducted at Source.

• TCS is the tax collected by the seller from the buyer at the time of sale of specified goods and services.

• TDS is the tax deducted by the employer from the salary of the employee before paying it to the employee.

• Both TCS and TDS are forms of indirect taxes collected by the government.

• TCS is applicable on transactions like sale of scrap, min...read more