I (Meaning and importance of Exports) Unit Structure

52) Let Ship order 
– 
The Customs preventive officer at the docks issues “Let Ship 
order”. It is a permission to ship the goods. 
53) LIBOR-- 
LIBOR stands for London Inter Bank offer Rate. It is short 
term borrowing rate among London banks. LIBOR is a benchmark 
for pricing Euro Loans. 
54) Lines of credit 
– 
It is a special scheme introduced by EXIM Bank provides 
loans to foreign financial institutions so that they provide loans to 
overseas buyers to buy Indian capital goods. The main objective is 
to promote exports of Indian capital goods. 
55) Market Penetration pricing strategy 
– 
A pricing strategy in which exporter introduces the product 
into the market charging very low price initially. The purpose is to 
capture the largest market possible and drive away competitors. 
56) 
Mate‘s Receipt-- 
Mate‟s receipt is issued by the mate or master of the vessel 
in which the goods are shipped for onward journey to specific port 
of destination. 
57) MFN Clause 
– 

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MFN stands for most favored nation principle. Under this 
clause, if a country provides tariff concessions to one member of 
GATT (WTO), then automatically such concessions are applicable 
to all other member countries. 
58) MMTC 
– 
The minerals and metals Trading Corporation of India Ltd. 
(MMTC) was established by the GOI in Oct. 1963. it is a canalizing 
agency which deals with export of minerals and metals. 
59) MNC-- 
MNC stands for Multinational Corporation. It is a corporation 
that controls production and distribution facilities in more than one 
country. In other words, a country that undertakes business 
activities in more than one country is called MNC.