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CBSE Notes Class 11 Business Studies International Business – II

by aglasem
December 9, 2019
in 11th Class
Reading Time: 8 mins read
0

Class 11 Business Studies International Business – II – Get here the Notes for Class 11 Business Studies International Business – II. Candidates who are ambitious to qualify the Class 11 with good score can check this article for Notes. This is possible only when you have the best CBSE Class 11 Physics study material and a smart preparation plan. To assist you with that, we are here with notes. Hope these notes will help you understand the important topics and remember the key points for exam point of view. Below we provided the Notes of Class 11 Business Studies for topic International Business – II. 

  • Class: 11th
  • Subject: Business Studies
  • Topic: International Business – II
  • Resource: Notes

CBSE Notes Class 11 Business Studies International Business – II

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Candidates who are pursuing in Class 11 are advised to revise the notes from this post. With the help of Notes, candidates can plan their Strategy for particular weaker section of the subject and study hard. So, go ahead and check the Important Notes for CBSE Class 11 Business Studies International Business – II from this article.

1. Export Procedure The main steps involved in export procedure are

(i) Receipt of enquiry and sending quotations
(ii) Receipt of order or indent
(iii) Assessing importer’s credit guarantee for payment worthiness and securing
(iv) Obtaining export licence

According to the customs law, a firm must acquire an export licence before exporting goods

The pre-requisites of export licences are

(i) Obtaining IEC Number (Import-Export Code)
(ii) Obtaining RCMC (Registration Cum Membership Certificate)
(iii) Registration with ECGC (Export Credit Guarantee Corporation)
(iv) Obtaining Pre-shipment Finance
(v) Production and Procurement of goods
(vi) Pre-shipment inspection

There are three methods of pre-shipment inspection

(i) Consignment-wise inspection
(ii) In-process quality control
(iii) Self certification
(iv) Excise clearance
(v) Obtaining certificate of origin
(vi) Reservation of shipping space
(vii) Packing and forwarding
(viii) Insurance of goods
(ix) Custom clearance
(x) Obtaining Mate’s receipts
(xi) Payment of freight and Insurance of Bill of Landing
(xii) Preparation of Invoice
(xiii) Securing Payment

The importer may accept a bill of exchange of two types

(i) Documents against right
(ii) Documents acceptance

2. Import Procedure Steps involved in import procedure are

(i) Trade enquiry
(ii) Procurement of import licence
(iii) Obtaining foreign exchange
(iv) Placing order or indent
(v) Obtaining letter of credit
(vi) Arranging for finance
(vii) Receipt of shipment advice
(viii) Retirements of import documents
(ix) Arrival of goods
(x) Custom clearance

3. Export-Import Documents

(i) Principal Export Documents

(a) Commercial invoice
(b) Packing list
(c) Bill of lading The bill of lading is considered an important document due to the following reason

  • A receipt of goods
  • A document of Title to goods
  • A contract of affreightment

(d) Airway bill
(e) Certification of inspection
(f) Certificate of origin
(g) Bill of exchange

4. Auxiliary Export Documents

(i) Proforma invoice
(ii) Intimation of inspection
(iii) Shipping instruction
(iv) Insurance declaration
(v) Shipping order
(vi) Mate’s receipt
(vii) Application for certificate of origin
(viii) Letter to banks for collection of documents

5. Import Documents The important documents used in import procedure is

6. Bill of Entry There are three types of bill of entry

(i) Bill of entry for home consumption
(ii) Bill of entry
for warehousing
(iii) Ex-bond bill of entry

7. Important Terms Used in External Trade

(i) Free on Boards (FOB)
(ii) Cost and Freight (CFR)
(iii) Cost Insurance and Freight (CIF)

8. International Trade Institution and Agreements

(i) World Bank The World Bank was established in 1944, in Buttonwoods. It was setup with a purpose to provide loans to countries whose infrastructure was destroyed by the war.

(a) Nature of World Bank

  • It was set-up to rebuild post World War -II Europe.
  • It offers loan advice and training to private and public sector of poor countries.

(ii) United Nation Conferences on Trade and Development (UNCTAD)
(iii) International Development Association
(iv) International Finance Corporation (IFC)
(v) The Multinational Guarantee Agency (MIGA)

(vi) World Trade Organisation (WTO) The world trade organisation is the only global international organisation which deals with the rules and regulations of trade between different nations.

(a) Nature of WTO

  • WTO deals with sales of trade between nations at global level.
  • It operates with a purpose liberalising trade and free flow of goods and services in trade policy within agreed limits.
  • WTO settles disputes through some neutral procedures.

(b) Role of WTO

  • Promotes international peace
  • Settles disputes among member nations
  • Makes international trades very smooth by framing common rules and regulations.
  • Helps in economic growth of developing countries by giving them preferential treatment.

(c) Agreements of WTO

  • General Agreements on Tariffs and Trade (GATT)
  • Agreement of Textile and Clothing (ATC)
  • Agreement on Agriculture
  • General Agreements in Trade in Services (GATS)
  • Agreements on Trade Related Aspects of Intellectual Property Rights (TRIPS)

Class 11 Key Points, Important Questions & Practice Papers

  • Panipat Institute Admission Open 2022
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  • REVA University Admission 2022 Open
  • ATSE 2022, Olympiad Registration Open.

Hope these notes helped you in your schools exam preparation. Candidates can also check out the Key Points, Important Questions & Practice Papers for various Subjects for Class 11 in both Hindi and English language form the link below.

Class 11 Physicsकक्षा 11 अर्थशास्त्र
Class 11 Chemistryकक्षा 11 समाज शास्त्र
Class 11 Mathsकक्षा 11 शारीरिक शिक्षा
Class 11 Biologyकक्षा 11 राजनीति विज्ञान
Class 11 Business Studiesकक्षा 11 इतिहास
Class 11 Accountancyकक्षा 11 भूगोल 
Class 11 Sociology
Class 11 Physical Education
Class 11 English

 Class 11 NCERT Solutions

Candidates who are studying in Class 11 can also check Class 11 NCERT Solutions from here. This will help the candidates to know the solutions for all subjects covered in Class 11th. Candidates can click on the subject wise link to get the same. Class 11 Chapter-wise, detailed solutions to the questions of the NCERT textbooks are provided with the objective of helping students compare their answers with the sample answers.

  • Biology
  • Chemistry
  • Physics
  • Mathematics
  • English
  • Hindi
  • Business Studies

Class 11 Mock Test / Practice

Mock test are the practice test or you can say the blue print of the main exam. Before appearing in the main examination, candidates must try mock test as it helps the students learn from their mistakes. With the help of Class 11 Mock Test / Practice, candidates can also get an idea about the pattern and marking scheme of that examination. For the sake of the candidates we are providing Class 11 Mock Test / Practice links below.

  • Maths
  • Physics
  • Chemistry
  • Biology

Class 11 Exemplar Questions

Exemplar Questions Class 11 is a very important resource for students preparing for the Examination. Here we have provided Exemplar Problems Solutions along with NCERT Exemplar Problems Class 11. Question from very important topics is covered by Exemplar Questions for Class 11.

Physicsरसायन विज्ञान
Chemistryजीव विज्ञान
Maths
Biology

CBSE Class 11 Business Studies Notes Maths Notes Accountancy Notes Sociology Notes

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Tags: Business Studies NotesCBSE Class 11 NotesCBSE NotesClass 11 NotesClass 11th

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