Table of contents (expand)
- The concept of foreign economic relations and their difference from foreign economic activity
- Foreign economic activity (FEA): concept, essence, meaning
- Composition of foreign economic functions of export-oriented enterprises
- Technological process of creation and sale of export products
- Types of foreign economic activity as a way to implement the export strategy of the enterprise and the form of its work in the foreign market
- Special regimes for the implementation of certain areas of foreign trade activity
- The role of investment cooperation in the development and production of export products
- Currency and financial and credit operations as a type of foreign economic activity
- Industrial cooperation as part of the types of foreign economic activity, its significance
- Composition of participants in foreign economic activity in Russia
- Classification of subjects of foreign economic activity in Russia, its principles
- The composition of exporters-manufacturers operating in the foreign market without intermediaries
- Representation of participants in foreign economic activity playing an intermediary role in foreign economic activity, their target orientation
- Contributing organizations, composition of participants, activity profile, role in the foreign economic sphere of Russia
- Types of trading and intermediary firms
- Organizational principles of building a foreign trade company
- The main functional divisions of a foreign trade company
- Powers of employees of a foreign trade company
- Reforming the sphere of foreign economic activity in Russia: prerequisites, stages, goals
- The nature and trends in the development of foreign economic activity in the 90s
- Export of certain types of goods
- Prospects for the development of foreign economic activity
- The need for state regulation of the national economy, its essence and prerequisites
- State regulation methods used in international practice
- Regulation of foreign trade at the national and intergovernmental level
- Foreign trade policy of Russia
- Formation of the legislative, regulatory and legal framework for Russia's foreign trade
- The mechanism of state regulation of foreign trade activities in Russia
- Anti-dumping measures as an instrument of non-tariff restrictions
- Non-tariff restrictions of foreign trade operations
- Customs-tariff regulation of foreign trade operations
- Measures to assist exporters
- System of currency regulation of foreign trade activity
- Methods of non-tariff restrictions on foreign economic activity in the Russian Federation
- Customs regulation as a method of state-economic impact on the sphere of foreign economic activity: essence, constituent elements
- Customs Tariffs and Customs Duties
- Calculation and procedure for payment of import duties, conditions for granting a deferred payment
- Methods for determining the customs value and the sequence of their application
- Customs regimes in the Russian Federation, their economic content and role in the system of customs and tariff regulation
- Types of taxes in the field of foreign economic activity, their discriminatory nature
- Value added tax and excises on imported goods: payers, amount, differentiation of rates, calculation procedure, payment terms
- Features of collection and refund of value added tax and excises under different customs regimes
- Special procedure for levying excises on certain imported goods, their intended purpose
- Principles of currency regulation
- The procedure for exercising state control over the import and export of precious metals from the Russian Federation
- The principle of regulating settlements with the state budget by exporters
- The system of currency control over export-import operations, its purpose and procedure for ensuring
- Currency control over import and barter transactions
- Institute of Currency Control Agents
- The system of non-tariff restrictions on foreign economic activity in Russia, its difference from foreign practice
- Licensing and export quotas and their scope
- Export quotas in Russia. Administrative and commercial principles for the distribution of export quotas
- Special export procedure for certain groups of goods and the process of its organization
- Certification of goods in the import control system
- Customs formalities for the export (import) of cargo, their sequence and confirmation with the necessary documents
- The procedure for applying the provisions of the Convention on the International Carriage of Goods with the issuance of an international road carrier book, etc.
- Customs escort of cargo, its organization and conditions of application within the framework of customs formalities
- Customs clearance
- The simplified procedure of customs clearance
- Movement across the customs border of currency and securities
- General rules for the movement of goods of individuals through customs
- The value of international private law in the regulation of foreign economic activity
- Sources of law in the field of foreign economic activity
- Substantive law and conflict of law rules
- State regulation of foreign investment
- Mechanism of international settlements
- Types of loans and forms of lending in foreign economic activity
- Leasing as a form of lending for foreign economic activity
- Positions of the currency terms of the contract
- Forms of foreign trade settlements
- Letter of credit in the practice of foreign economic activity in Russia
- Types of World Commodity Markets
- Value added tax on the export of certain works and services, the procedure for calculating and paying
- Arms Import Licensing
- The contingent of quota and licensed goods in Russia
- Export control in Russia, main purpose and scope
- Special control of export and import of nuclear materials, technologies and equipment in Russia
- Unified system of expert assessment of the quantity, quality and price of products exported from Russia
- Payment return methods for a commercial loan
- Criteria for choosing forms of foreign trade settlements
- The role of banks in the settlement system in foreign economic activity
- Federal bodies, their powers and functions in the field of state regulation of foreign economic activity in Russia
- Powers of the Ministry of Economic Development of Russia in the field of foreign economic activity
- Powers of the Ministry of Economic Development of Russia in the field of customs regulation
- The Federal Customs Service, its place and functions in the field of state regulation of foreign economic activity
- Levels and procedure for interaction between state federal and regional bodies in the structure of Russia's foreign economic complex
- Powers and functions of state institutions for currency regulation and control in the field of foreign economic activity
- The concept and essence of marketing in foreign economic activity
- Strategies for foreign economic activity
- The concept and content of operational marketing in foreign economic activity
- Export and commodity policy of the enterprise
- Types of offset transactions
71. Letter of credit in the practice of foreign economic activity in Russia
The letter of credit form of payment provides for the obligation of the buyer to open a letter of credit (through non-cash payments) for a specific amount in favor of the seller in the issuing bank by the date established by the contract.
The procedure for making settlements using a letter of credit is determined by the instruction of the applicant represented by the importer to the address of his authorized bank, guided by the international Uniform rules and customs for documentary letters of credit, with a corresponding note on the letter of credit form confirming the acceptance of these rules by this bank.
The use of letters of credit by Russian participants in foreign economic activity is actively carried out in the area of financing import operations. Financing of import operations can be carried out in different ways: from commercial lending to the opening of specialized credit lines. The most common way to finance imports in Russia has become the provision of a loan in the form of a documentary letter of credit.
In its purest form, a letter of credit is one of the forms of settlement under import contracts, which ensures timely and full payment. Most often, a letter of credit is used in barter, compensation and counter transactions, as part of foreign exchange transactions.
By providing a letter of credit, the importer's bank undertakes to pay the seller the amount specified in the contract after the latter submits the previously agreed documents to its bank in a timely manner. If the contract between the importer and the seller provides for a deferred payment, the letter of credit acts as a credit instrument.
The advantages of the letter of credit form of payment for Russian importers is that the letter of credit is much cheaper than the often required XNUMX% prepayment. The cost of its issuance and confirmation by a first-class bank is significantly reduced.
Special programs for financing foreign trade transactions created in the system of commercial banks in Russia provide preferential terms for the import of either a certain product, or for the import of products from a specific manufacturing country, and are also focused on a specific borrower. Such programs are supported by the governments of interested countries or international financial organizations. In order to use them, it is enough for a Russian importer to agree with his supplier on the use of a letter of credit with deferred payment. Banks, being authorized for such special programs, provide their customers with the most favorable conditions for obtaining a loan, interest rates, terms of repayment and security.
The letter of credit form of import financing reduces the risk of lending operations.
At first, payment is made after receipt of shipping documents, i.е. after the actual arrival of the goods of the agreed quality within the terms stipulated by the contract.
Secondly, the possibility of misuse of funds is minimized - the amount of the loan provided is not issued directly to the importer, but serves as a guarantee of the buyer's solvency and timely payment.
Thirdly, low interest rates increase the borrower's ability to sell goods in a short time and pay off the bank, which also minimizes the risk of loan default.
In addition, the supplier's bank accepts, for example, SBS bills or funds on deposit in major world currencies as collateral for letters of credit, which the importer must provide, and this allows the importer to receive additional income.
Author: Bobkova O.V.
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