Question

The importer places the order either directly or through an indent house. It is known as indent. Indent may be of three types. What are the three types of indents? Explain?

Answer 1

There are three types of indent: 

1. Open Indent: It gives complete freedom to exporter to choose type of goods, price, quality, method of packing, etc.

2. Closed Indent: It does not give any freedom to exporter. Importer specifies the type of goods, price, quality, etc. 

3. Confirmatory Indent: An indent is to be confirmed by importer/his agent and the final indent is sent by importer thereafter.