Ex im procedure in india


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Export - Import Procedure In India

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Ex im procedure in india

  2. 2. EXPORT PROCEDURES • Receipt of an order • Obtaining License and Quota • Letter of Credit • Fixing exchange rate • Foreign exchange formalities • Preparation for executing the order • Formalities done by forwarding agent • Bill of Lading • Shipment advice to importer • Presentation of documents to the bank • Realization of export proceeds • Follow up
  3. 3. IMPORT PROCEDURES • Obtaining import license and quota • Bill of entry • Obtaining foreign exchange • Clearing of goods • Placing an order • Payment to clearing and forwarding agent • Dispatching letter of credit • Appointing clearing and forwarding agents • Receipt of shipment advice • Receipts of documents • Delivery order • Payment to exporter • Follow up
  4. 4. DOCUMENTS USED IN EX-IM PROCEDURE • Bill Of Lading • Marine insurance • Certificate of Origin • consular invoice • commercial invoice • Letter of Credit • Bill of entry, etc.
  5. 5. BILL OF LADING It is an official receipt given by the shipping company as an acknowledgement of the receipt of goods to be transported to the port of destination. It is also a contract for the carriage of goods.
  6. 6. MARINE INSURANCE It covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.
  7. 7. CERTIFICATE OF ORIGIN It is an important international trade document attesting that goods in a particular export shipment are wholly obtained, produced, manufactured or processed in a particular country.
  8. 8. CONSULAR INVOICE A document certifying a shipment of goods and shows information such as the consignor, consignee and value of the shipment.
  9. 9. COMMERCIAL INVOICE Document required by custo ms to determine true value of the imported goods, for assessment of duties and taxes
  10. 10. LETTER OF CREDIT It is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase
  11. 11. BILL OF ENTRY A declaration by an importer or exporter of the exact nature, precise quantity and value of goods that have landed or are being shipped out. Prepared by a qualified customs clerk or broker, it is examined by customs authorities for its accuracy and conformity with the tariff and regulations.
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