Custom Shipping and Insurance June 2018 Assignment

15 Apr

Custom Shipping and Insurance

1. You have joined an import export organization wherein there is an internal examination for considering promotion. You have to specify the sections of the following from the Customs Act 1962. Please explain the section of

a. Bill of entry for home consumption

b. Shipping bill

c. Ex bond bill of entry

d. Total number of section in the Customs Act 1962

2. One consignment under FOB was received by air. However your company could not produce freight certificate and also have not insured the consignment. Please explain as to how the customs will arrive at CIF value. What would be the repercussions in case of damage/pilferage in the consignment?

3. You have to export 10 x 40’ containers from Delhi to Dubai. You have to organize a freight forwarder as the containers have to come from Delhi to Mumbai by road and then by sea.

a. How will you select a freight forwarder for this job?

b. What would be your arrangement to bring containers from Delhi to Mumbai?

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