Attempt all the problems described below:

problem 1: What are the main objectives of foreign trade policy? Describe the general provisions associated to imports under the Export-Import policy.

problem 2: What do you mean by the term documentary credit? Describe the practical method of realizing payment under the letter of credit arrangement all along with the documentation formalities.

problem 3:

a) describe the responsibilities or duties of insurer under the cargo insurance.

b) Describe the features of open cover under the cargo insurance.

problem 4: Differentiate between the given:

a) Liner Shipping Service and Tramp Shipping Service.
b) Maritime perils and War perils.

problem 5: In brief comment on given statements.

a) Duty Entitlement Passbook Scheme doesn’t neutralize the incidence of Customs duty.
b) Packing credit doesn’t enable exporters to procure process or manufacture the goods meant for export.
c) Containerization doesn’t offer any benefit to exporters.
d) Export Promotion Councils don’t provide marketing assistance to the exporters.