Unicorn Packaging Executive Export & Import Interview Questions and Answers

To open a Letter of Credit, follow these steps:

• Contact your bank and provide them with the necessary details

• Submit the required documents such as the purchase order, invoice, and shipping documents

• Agree on the terms and conditions with the beneficiary

• The bank will then issue the Letter of Credit to the beneficiary

• Ensure all parties involved are aware of the Letter of Credit and its terms

The bank application for LC should be filled with attached documents and authorized signature and stamp.

• Fill out the bank application form for LC

• Attach the Proforma Invoice

• Include the Margin money cheque

• Include the FEMA declaration

• Ensure the application is authorized, signed, and stamped

Custom duty is calculated based on the value of goods and their classification. Duty drawback schemes allow for refunds on duties paid.

• Custom duty is calculated based on the value of goods and their classification

• The duty rate is determined by the customs authority

• Duty drawback schemes allow for refunds on duties paid if the goods are re-exported or used in the production of exported goods

• The amount of duty drawback de...read more