I (Meaning and importance of Exports) Unit Structure

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75) Product standardization 
– 
Product standardization means introducing the product in the 
market without any change. 
76) Proforma Invoice 
– 
Proforma invoice is a quotation given in the form of a regular 
invoice. It is sent as a reply to an inquiry. 
77) RCMC 
– 
RCMC stands for “Registration cum membership certificate”. 
It is issued by the export promotion council and Federation of 
Indian exporting organization. 
78) SAARC Countries 
– 
SAARC stands for South Asian Association for Regional 
Cooperation. There for seven members of SAARC which includes 
India, Pakistan, ShriLanka, Bangladesh, Bhutan, Maldives and 
Nepal? This group aims of regional cooperation as far as trade is 
concerned. In 2007, Afghanistan joined the group as the 8
th
member. 
79) Seed Capital 
– 
Seed capital is promoter‟s contribution towards equity. The 
seed capital is provided by financial institutions like state Financial 
Corporations. 
80) Services Exports 
– 
It refers to marketing of services in other countries. The 
services 
exports 
include 
banking, 
transport, 
travel, 
communications, insurance, software etc. 
81) SEZ 
– 
SEZ stands for Special Economic Zone. It is a specifically 
delineated duty free area and shall be deemed to be foreign 
territory for the purposes of trade operations and duties and tariffs. 
81) Shipping Bill 
– 
Shipping bill is the main customs document. It is required by 
the customs authorities for granting permission for the shipment of 
goods. 
82) Shipping order 
– 
Shipping order issued by the shipping company reserving 
berth or space for loading the goods on the ship.