NIOS Class 10 Logistics & Supply Chain Management Chapter 24 Consignment Note

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NIOS Class 10 Logistics & Supply Chain Management Chapter 24 Consignment Note

Also, you can read the NIOS book online in these sections Solutions by Expert Teachers as per National Institute of Open Schooling (NIOS) Book guidelines. These solutions are part of NIOS All Subject Solutions. Here we have given NIOS Class 10 Logistics & Supply Chain Management Chapter 24 Consignment Note, NIOS Secondary Course Logistics & Supply Chain Management Solutions for All Chapters, You can practice these here.

Consignment Note

Chapter: 24

INTEXT QUESTIONS 24.1

1. Identify the statement whether they are true or false.

A CMR is unmarketable.

Ans: True.

2. The Convention of The Contract for The International Carriage of Goods in Geneva on May 19, __________.

Ans: 1956.

3. Expand GTA.

Ans: Goods Transportation Agency.

INTEXT QUESTIONS 24.2

1. __________ is the most important document in the shipping industry.

Ans: Bill of Lading.

2. Expand EDI.

Ans: Electronic Data Interfaces.

3. What are the functions of Bill of Lading?

(A) Evidence of Contract of Carriage.

(B) Receipt of Goods.

(C) Document of Title to the goods.

(D) All the above.

Ans: (D) All the above.

4. Expand IEC.

Ans: Import Export Code. 

INTEXT QUESTIONS 24.3

1. Expand RFID.

Ans: Radio-frequency identity.

2. Physical devices are linked to the ___________, which monitors and transfers data without human involvement, Air waybill.

Ans: IoT.

3. Identify the statements whether they are true or false.

Automation of inventory movement into, within, and out of warehouses to consumers with little human intervention is known as warehouse automation.

Ans: True.

TERMINAL EXERCISE

1. Define Consignment Note.

Ans: A consignment note is a document used in transportation to detail the contents of a consignment (shipment) being transported from one location to another. It typically includes information such as the sender’s and receiver’s addresses, a description of the goods being shipped, the quantity of goods, any special handling instructions, and sometimes the value of the goods. Consignment notes are often used in the logistics industry to ensure proper handling, tracking, and delivery of goods.

2. Name the services by which the transportation of goods are exempted.

Ans: The service by which the transportation of goods are exempted are mentioned below:  

(i) By road except the services.

(ii) A goods transportation agency.

(iii) a courier agency.

(iv) By inland waterways.

3. What is meant by GTA?

Ans: GTA means any person who provides service in relation to transport of goods by road and issues consignment note, by whatever name called. This means, while others might also hire out vehicles for goods transportation, only those issuing a consignment note are considered as a GTA.

4. Define Proforma Invoice. 

Ans: A proforma invoice is a preliminary bill or estimated invoice which is used to request payment from the committed buyer for goods or services before they are supplied. A proforma invoice includes a description of the goods, the total payable amount and other details about the transaction. 

5. State the importance of IEC.

Ans: It is a unique code 10-digit alphanumeric code issued on the basis of PAN of an entity. IEC is issued in electronic form (e-IEC) by Directorate General of Foreign Trade (DGFT) which is under Ministry of Commerce, Government of India.No export or import shall be made by any person without obtaining an IEC unless specifically exempted.

6. What are the services provided by GTA?

Ans: The provided by GTA are mentioned below: 

(a) Loading/unloading.

(b) Packing/ unpacking.

(c) Trans-shipment.

(d) Temporary warehousing etc.

7. Mention the contents in Packing List.

Ans:

A packing list is a document containing a detailed list of the cargo, including weight, dimensions, safety measures, and packaging type. The packing list should be included in carton or package, and can be attached to the outside of a package with a copy inside. The packing list should be included in carton or package, and can be attached to the outside of a package with a copy inside. In simple terms, it is used to inform the transportation companies about what they are transporting.

8. What is Bill of Lading and mention its functions.

Ans: A bill of lading (BOL) is the official contract between the shipper or owner of goods and the freight carrier. A BOL will include detailed information about the shipping destination, the goods included, and how they should be handled. It is the document used to confirm receipt of goods for shipment and can only be signed by an authorised representative of the carrier upon receipt in order for the shipment to be released. It is the most important document in the shipping industry. 

Where its functions are:

(a) Evidence of Contract of Carriage.

(b) Receipt of Goods.

(c) Document of Title to the goods.

9. Explain the importance of Certificate of Origin.

Ans: The importance of Certificate of Origin are: 

(i) Trade Compliance: A COO serves as a crucial trade document required by customs authorities to verify the origin of goods. It ensures compliance with trade agreements, tariff preferences, and import regulations established between countries. Without a valid COO, customs clearance may be delayed, leading to potential disruptions in the supply chain and additional costs for exporters and importers.

(ii) Tariff Benefits: Many countries offer preferential tariff treatment to goods originating from specific trade partners or regions under bilateral or multilateral trade agreements. By providing a COO that certifies the eligible origin of goods, exporters can claim preferential tariff rates or exemptions, thereby reducing the cost of exporting and enhancing competitiveness in foreign markets.

(iii) Avoidance of Trade Barriers: Some countries impose non-tariff barriers, such as quotas, import restrictions, or labelling requirements, based on the origin of goods. A COO helps exporters navigate these barriers by providing documentary evidence of the goods’ origin, facilitating smoother customs clearance procedures and reducing the risk of trade disputes or penalties.

10. How RFID helps in transit?

Ans: Radio-frequency Identity (RFID) chips have promised to provide real-time tracking information. By comparison, RFID implementation can be a high-cost addition to the logistics supply chain. Some estimate a 10X cost factor for implementing RFID tags versus bar codes. RFID in logistics has potential particularly in route optimization, and the real-time tracking of goods. When effectively integrated, RFID systems can provide precise location and quantity data in real-time. For instance, tagging trucks, pallets, and inventory provides multi-lateral views of what is happening across the supply chain. But you need that level of computers and system to implement and run it.

11. What are the contents of the Consignment Note?

Ans: Consignment Note which is also known as CMR consignment note, constitutes a proof of the contract of carriage by road, determines the scope and responsibility for the operation performed and identifies the parties involved and the goods being transported. Its use implies adherence to the CMR that governs this document.

12. State the functions of Consignment Note.

Ans: The functions of Consignment Note are: 

(a) To outline the terms of the transaction.

(b)  who will get paid how much when and how certain facts are handled.

(c) It is also a record that the transaction occurred in case the consigned goods are lost or stolen and how that situation is handled.

(d) The consignment note shall constitute “prima facie evidence” for the existence of the carriage contract, terms and conditions of the contract and acceptance of the goods by the carrier.

(e) It is the proof that the contract of carriage has been made between the sender and the carrier within scope of the CMR.

(g) It is the proof of a consignment note signed by both the sender.

13. Name any 4 documents in SCM and Logistic.

Ans: 4 documents in SCM and Logistic are mentioned below: 

(i) Proforma Invoice.

(ii) Commercial Invoice.

(iii) Packing List.

(iv) Bill of lading.