a. Differentiate between indent and quotation
b[¡] State four functions of each of the following organizations:
export promotion council
b[¡¡] State four functions of each of the following organizations:
customs and excise authority
Explanation
a - Indent is a formal request from a buyer to a seller to purchase goods or services while a quotation is a formal offer from a seller to a potential buyer, providing the price and terms for the requested goods or services.
- Indent is a formal written request made by a buyer to a seller or supplier for the supply of goods or services while a quotation is a formal written document provided by a seller to a potential buyer, outlining the proposed prices for goods or services requested.
b[¡] - Conducting market research to identify potential export markets, analyzing market trends, and providing valuable insights to exporters
- Assisting exporters in understanding and complying with export documentation requirements, customs procedures, and other legal formalities.
- Organizing trade fairs, exhibitions, and buyer-seller meets to showcase products and services, facilitate busines networking, and promote exports.
- Representing the interests of exporters in trade negotiations, advocating for favourable trade policies, and addressing trade barriers to facilities market access for exporters.
- Assisting exporters in understanding and complying with quality standards and certifications required in target markets, promoting adherence to international quality norms.
- Representing the interests of exporters to the government, providing feedback on policy issues affecting exports, and advocating for policy reforms that promote export growth.
b[¡¡] - They facilitate the smooth flow of international trade by examining and clearing goods at ports, airports, and other entry points
- Customs and Excise authorities are responsible for collecting customs duties, tariffs and other taxes on imported goods
- Customs authorities aim to facilitates legitimate trade while ensuring compliance with regulations
- Customs authorities enforce laws and regulations related to international trade.
- Customs authorities play a vital role in ensuring national security at borders
- Customs authorities collect data, including import and export statistics, to monitor trade trends, support economic analysis and develop trade policies.