A letter of credit is a letter from a bank guaranteeing that a buyer will pay the seller on time. If the bank is unable to make payment, the bank will be requrired to cover the unpaid amount. 

Yes. Export Credit Guarantee Corporation help exporters with financial assistance. It protects exporters payments from political and commercial risks. 

When the orders are checked when the consignments are ready for dispatch. This is called Consignmentwise Inspection. 

True. A proforma invoice ensures that the buyer will receive the best quality of goods. 

False. The Import Export Code is issued by the Regional Import Export Licensing Authority, which is fall under the Ministry of Commerce and Industries. 

True. Bill of Lading acts as an acknowledgement of receipt of goods. It is a document of title to goods and a contract of affreightment. 

Seaways transportation is more prevalent. 

False. Certificate of Origin is a proof that goods are actually being manufactured or procured in the country from where these goods are exported. The buyers need a certificate stating that goods have been originated from the home country. 

At the gates of the doc, the agent has to hand over a few documents and then only he has the permission to enter. This is called carting order. 

False. In self-certification, quality organisations audit the quality of records frequently to make sure the standards are intact.