Siegmar Messerli

There are 5 types of payment terms and conditions in export. They are as follows:

• Open Account
• Documentary collection
• Letter of Credit
• Cash in Advance
• Consignment

With eBRC now there is minimum human intervention and less transaction cost for granting export benefits to exporters. DGFT is already receiving information for shipping bills electronically through EDI ports, now with this integration with banks it is receiving the foreign currency realisation details too which can be linked to each shipping bill. The information as per shipping bill and eBRC is matched so that the value at which incentive is to be provided to the exporter can be verified.

The request for a Switch bill of lading can only be made by the original seller of the goods, trading agent, and buyer. The original agreement between the seller and trading agent is switched between the trading agent and the buyer. The ocean carrier or freight forwarder must approve the switched bills after carefully processing the differences in the original and switch bill of lading.

After the perusal, only carriers or freight forwarders have the authority to sign the bill of lading. Once the switch bill of lading is approved, the initial bill of lading is taken out of circulation so that only one set of documents remains in effect.

Foreign direct investment (FDI) is an ownership stake in a foreign company or project made by an investor, company, or government from another country. Companies or governments considering a  FDI generally consider target firms or projects in open economies that offer a skilled workforce and above-average growth prospects for the investor. Light government regulation also tends to be prized. FDI frequently goes beyond mere capital investment. It may include the provision of management, technology, and equipment as well. A key feature of foreign direct investment is that it establishes effective control of the foreign business or at least substantial influence over its decision making.