December 2015
Intermediate to advanced
313 pages
16h 2m
English
Content preview from International Business, 2nd Edition by Pearson
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International Trade Finance and Promotion 101
■ Another important incentive was the system of import replenishment (REP) licences, which
were related to the free on board (FOB) value of exports. The REP was, for the most part, a facil-
ity that enabled exporters to import inputs where the domestic substitutes were not adequate in
terms of price, quality, or delivery rates; it was also an incentive in so far as there was a premium
on REP licences, which were transferable. The new trade policy of July 1991, renamed it the
Exim scrip scheme. However, it was abolished with the introduction of the partial convertibility
of the rupee since April ...
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