Skip to main content
Super TutorResources
Chapter 18 of 23
QuestionsNotesFlashcardsSummaryFormulasQuizConceptsSyllabusPlan
Revision Notes

Import and Export Trade Procedure

ICSE · Class 11 · Commerce

Quick revision notes for Import and Export Trade Procedure — ICSE Class 11 Commerce. Key concepts, formulas, and definitions for last-minute revision.

65 questions35 flashcards5 concepts

Interactive on Super Tutor

Studying Import and Export Trade Procedure? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for revision notes and more.

Try Super Tutor — Free

1,000+ Class 11 students started this chapter today

Key Topics to Revise

1

Meaning and Importance of Import and Export Trade

  • Import trade refers to purchase of goods from a foreign country.
  • Export trade refers to sale of goods to a foreign country.
  • Import trade is important for the economic development of developing countries.
2

Import Procedure

  • The importer first collects trade information through trade enquiry.
  • An import licence is needed before importing goods.
  • Import licences are issued in duplicate: one copy for customs purposes and one for exchange control purposes.
3

Import Documents and Special Terms

  • Import trade uses documents such as import licence, indent, letter of credit, bill of exchange, bill of lading, marine insurance policy, invoice, shipment advice, bill of entry, dock challan, dock war
  • The bill of lading is obtained from the shipping company by showing the mate's receipt.
  • A revenue stamp is affixed on every copy of the bill of lading as proof that freight has been paid.
4

Export Procedure

  • Export trade starts with trade enquiry.
  • The exporter may receive an indent from the foreign importer.
  • A letter of credit is demanded to ensure payment security.

Get complete notes with diagrams and examples

Full Notes

Key Concepts

Import trade refers to the purchaseExport trade refers to the saleAn importer must obtain a licenceOpen General Licence is for goodsRestricted Licence is required for goods

Frequently Asked Questions

What are the important topics in Import and Export Trade Procedure for ICSE Class 11 Commerce?
Import and Export Trade Procedure covers several key topics that are frequently asked in ICSE Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Import and Export Trade Procedure — ICSE Class 11 Commerce?
Understand the core concepts first, then work through the 65 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Import and Export Trade Procedure

All 23 chapters — ICSE Class 11 Commerce Revision Notes

For serious students

Get the full Import and Export Trade Procedure chapter — for free.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for ICSE Class 11 Commerce.

Try Super Tutor Free
Try the full chapter — Free