Theory question 106
Foreign TradeCommerce 2 (answer five questions)
(a) What are the functions of the Nigeria Export Promotion Council (NEPC)?
(b) What are the steps an exporter would take to export goods from the receipt of an indent to the shipment of the goods?
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(a) NEPC: promotes non-oil exports; gives information on foreign markets and export procedures; organises trade fairs and missions abroad; administers export incentives and grants; registers and advises exporters; trains exporters; helps improve the quality and packaging of export goods.
(b) Steps: receive the indent and check the importer's credit/letter of credit; obtain export permit/registration and complete export documents (e.g. NXP form); obtain or produce the goods, pack and mark them; book shipping space with the shipping company (or forwarding agent); arrange marine insurance (if CIF); obtain certificate of origin, consular invoice and inspection certificate; prepare shipping note and clear goods through customs; goods loaded – obtain the bill of lading; send invoice, bill of lading, insurance certificate and other documents to the importer or his bank to receive payment.
Present (b) in the correct order.