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A warehouse licensed to keep imported goods awaiting clearance because of non-payment of custom duties is called a bonded warehouse.

There are different kinds of warehouses and the classification of warehouses can be made from the following viewpoints:

Storage is an important function of any business and it is an inseparable element of trade. It involves keeping a quantity of goods for use when required.

A warehouse is an establishment for the storage and accumulation of goods. It is highly specialized function that plays a vital role in modern business.

Warehousing aids in equalizing supplies over a period of time. It renders invaluable service to community by performing important functions which are given below:

Warehouse perform a number of functions. These are:

The establishment which facilitate storage of goods is known as warehouse and the services rendered in connection with storage of goods is known as warehousing.

The trade between two or more nations is termed as foreign trade or international trade. It involves exchange of goods and services between the trades of two countries.

Foreign trade involves the usage of various document. Some of the important document used in foreign trade are as follows:

Buying and selling of goods and services between two or more countries is termed as foreign trade. It involves exchange of goods and services between two parties who have different citizenship status.

The Import and export (control) Act, 1947 regulates the export and import of goods. All the countries impose restrictions on export of certain specified goods which are in short supply.

The different kinds of price quotation are: Loco: It means ex-warehouse price. In this case, seller undertakes to keep the goods in his godown at the disposal of buyer who has to bear all the expenses of removing the goods. It is otherwise called as spot price. FOB: It means free on Rail. In this […]

A warehouse is a godown which provides for safe custody of goods dealt in internal trade and foreign trade. The services rendered by a warehouse are as follows:

The trade engaged in import of goods from a foreign country not for consumption but for re-exporting them to another country is called entrept trade.

Import of goods from a foreign country can be effected in two ways. The import of goods can take place directly or through a middleman.

After the goods are shipped, the exporter desires to get payment of the bill drawn by him on the importer. Such immediate payment can be received by discounting the bill with his banker.