Import procedure and financing

1. Welcome
to our presentation on Import
procedure and financing of behalf of group
:- c

2. The five basics steps you need to know before becoming an importer.
1.Decide the country
2. Search for suppliers

3. 3. Search the duty and taxes
4. Find a reliable freight forwarder
and customs broker
5. Ship the goods on time

4. Buyer Seller
1
Commercial
Contract
2 Goods Shipment
2
Documents
Delivery
6
Payment
3 Documents Delivery
4 Payment
5 Payment
4
Documents
Delivery
Presenting Bank Remiting Bank

5. Loan against Imported
Merchandise (LIM)
Loan against Imported Merchandise (LIM) is a facility provided by the
bank to the importers who are in shortage of fund to retire the import bills
and thus to clear the goods from the port authority. In other words it may be
referred as an advance made to the importers for clearance the imported
merchandise. In some other banks it is known as Advance against Merchandise.

6. LIM Accounts may be created in the following two cases:
1.LIM account on importer’s request .
2.Forced LIM Account Additional
Documents

7. LOAN AGAINST TRUST RECEIPT(LATR)
Loan against trust receipt provided the client when the
documents covering an import shipment are given without
payment.
Benefits of LATR:
1.Easy documentation
2.Possession of goods
3.Fast processing
4.Multiple currency
5.Global limit
6.Online banking

8. Purpose of Loan Against Trust Received(LATR):
To meet up the importer short term financing need.
Requirement of LATR:
1. Application for LATR
2. KYC form
3. Transaction profile
4. Trust received contract
5. Supporting documents
6. Tax certificate
7. Trade license copy