I (Meaning and importance of Exports) Unit Structure

83) Skimming pricing strategy 
– 
It refers to introducing the product with high pricing and 
heavy promotional expenditure in order to skim the cream or to 

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make as much profits as possible in the initial stages of product 
introduction. 
84) Specific Tariff Duty 
– 
Specific Tariff duty is one type of customs duty. It is charged 
on the physical characteristics of goods such volume, weight, size, 
design model etc. 
85) State Bill of Loading 
– 
It is one type of bill of loading. If the bill of loading is held too 
long and not presented to the bank / consignee soon after it is 
given by the shipping company it is called state bill of loading. 
86) Star Export Houses 
– 
The concept of star Trading House was introduced in 1990. 
There are registered merchant exporters. They are also one of the 
status holders. 
87) Tariff Barrier- 
It refers to taxes or duties imposed on export items. 
Normally, tariff barriers are imposed on imports. Tariff barriers 
restrict the free flow of goods and services between nations. 
88) Time draft and sight Draft 
– 
Time draft means the payment will be made against the draft 
or bill of exchange after a certain period of time. Sight draft means 
the payment needs to be made immediately against the draft or bill 
of exchange. 
89) Trading Bloc 
– 
Trading Bloc is a group of countries, which come together to 
increase trade and development. It reduces or removes trade 
barrier on member nations. Some of the examples - NAFTA, 
ASEAN, EU etc. 
90) TRIMS 
– 
TRIMS is the Trade Related Investment Measures 
Agreement which was introduced by the WTO to protect 
international trade from trade related investment measures that 
countries adopt to protect their domestic trade.