(a) What are the functions of the… | Commerce

Question 1 Report

(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?

Answer

(a) Functions of the Nigeria Export Promotion Council (NEPC)

To promote and develop the export of non-oil products from Nigeria.
To provide export information, advice and guidance to exporters on markets, prices and procedures.
To organize training, seminars, and trade fairs and exhibitions to encourage exporters.
To administer export incentives, grants and duty drawback schemes to exporters.
To help exporters find foreign markets and link them with foreign buyers.
To advise government on export policies and to help improve the quality and packaging of export products so that they meet international standards.

(b) Steps an exporter takes from receipt of an indent to shipment of goods

Receipt of indent: The exporter receives the indent (order) from the overseas buyer, stating the goods, quantity and terms required.
Acknowledgement and assembling of goods: He acknowledges the order, then obtains or manufactures and assembles the goods ordered.
Packing and marking: The goods are properly packed, marked and labelled according to the buyer's instructions.
Obtaining export documents and licence: He obtains the necessary documents such as the export licence, certificate of origin, and consular or commercial invoice.
Booking shipping space and customs clearance: He books freight space with a shipping company, completes customs (export) entry forms and clears the goods with customs, paying any dues.
Insurance and shipment: He insures the goods, delivers them to the docks, obtains the bill of lading after loading, and dispatches the shipping documents to the importer for collection of the goods.

Answer Details

(a) Functions of the Nigeria Export Promotion Council (NEPC)

To promote and develop the export of non-oil products from Nigeria.
To provide export information, advice and guidance to exporters on markets, prices and procedures.
To organize training, seminars, and trade fairs and exhibitions to encourage exporters.
To administer export incentives, grants and duty drawback schemes to exporters.
To help exporters find foreign markets and link them with foreign buyers.
To advise government on export policies and to help improve the quality and packaging of export products so that they meet international standards.

(b) Steps an exporter takes from receipt of an indent to shipment of goods

Receipt of indent: The exporter receives the indent (order) from the overseas buyer, stating the goods, quantity and terms required.
Acknowledgement and assembling of goods: He acknowledges the order, then obtains or manufactures and assembles the goods ordered.
Packing and marking: The goods are properly packed, marked and labelled according to the buyer's instructions.
Obtaining export documents and licence: He obtains the necessary documents such as the export licence, certificate of origin, and consular or commercial invoice.
Booking shipping space and customs clearance: He books freight space with a shipping company, completes customs (export) entry forms and clears the goods with customs, paying any dues.
Insurance and shipment: He insures the goods, delivers them to the docks, obtains the bill of lading after loading, and dispatches the shipping documents to the importer for collection of the goods.

(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...