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    Sunday, February 24, 2013

    Merchandise & service export and import

    Merchandise & service export and import:
    ü  When any nation or organizations purchase tangible goods then it is called import merchandise.
    ü  When any firm or nation export tangible product then it is called export merchandise.
    ü  When a nation or organization receiving payments for any service then it is called service export.

    Similarly when a nation or organization paying for receiving service then it is called service import.
    Performance of service: Some services- banking, insurance, rental, engineering, management services, and so on-net company’s earnings in the form of fees. On an international level, for example, companies pay fees for engineering services that are often handled through turnkey operations-construction, performed under contract, of facilities that are transferred to the owner when they are ready to begin operating. Companies also fees for management contracts-arrangements in which one company provides to perform general or specialized management functions for another company.
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