The term "import" refers to the process of bringing goods or services into a country from another country. This can be done either by buying goods or services from another country, or by receiving them as a gift or loan. What is FOB value? FOB value is the value of goods shipped from one country to another, where the buyer is responsible for paying the shipping costs. The term is typically used in international trade, and the value of the goods is typically calculated by the seller. What is LC in export? LC stands for Letter of Credit. In export, an LC is a commitment by a bank on behalf of the buyer that payment will be made to the seller up to a specified amount, provided that the seller meets all the conditions specified in the LC. What are the 4 types of importation? There are four types of importation:
1. Direct importation
2. Indirect importation
4. Transshipment What are 3 examples of imports? 1. Imported oil
2. Imported cars
3. Imported food
What is an example of import trade? An example of import trade would be if a company in the United States imported a product from a company in China. The United States company would be buying the product from the Chinese company, and the Chinese company would be selling the product to the United States company.