Attempt all the questions.

1. (a) “Electronic Data Interchange (EDI) can not work without standardization”. Give your arguments and discuss the EDI standardization. (b) What is Electronic Data Interchange? Describe the benefits of Electronic Data Interchange for the Export-Import Organization. (10+10)

2. What are the regulatory frameworks of import finance? Explain various methods of import finance available to Indian importers. (5+15)

3. Explain the procedures of customs clearance of export cargo by sea and by air along with the documentation formalities. (20)

4. Comment on the following statements. i) Contract is not a legal concept. ii) Commercial invoice is not a seller’s bill given to the buyer. iii) Constructive total loss is a physical loss. iv) There are no privileges for the Star Export Houses. (4X5)

5. Write notes on the following : i) Rationale of export-import documents ii) Role of Export-Import Bank of India iii) Stages of customs clearance of import cargo iv) Export Promotion Councils and Commodity Boards (4X5)