apparel export

7/29/2019 Apparel Export

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IT IS ESSENTIAL TOUNDERSTAND THE

VARIOUS PROCEDUREINVOLVED WHILE

EXPORTING APPAREL.


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Pre-Shipment ProcedureO On receiving the requisition & purchase

order from merchant, documentation

department issue an invoiceO Two invoice are prepared

1. Commercial invoice

2. Custom invoice


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InvoiceO Commercial invoice:

contains all the information required for th

e preparation of other documents. It isactually a sellers bill of merchandise,

giving details about the goods shipped.

O Customs invoice: It is an invoice made on

specified format for the Custom official to

determine the value etc as prescribed by

the authorities of the importing country


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Cont

O Packing list is prepared

O GSP certificate is prepared if exported to

EU or countries mentioned in the GSP listO Inspection certificate is issued

O Certificate of origin is also issued if

required


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Documents given to customs

for reference1. Custom invoice

2. Packing list

3. IEC certificate4. Purchase order or L/C ,if required

5. Custom annexure

O On receipt of above document, customs

will issue clearance certificate.


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Following documents sent to

buying houseO Invoice

O Packing list

O GSPO Certificate or origin

O Wearing apparel sheet

O A copy of FCR/airway bill/ Bill of lading


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Cont..O Buyer collects the consignment from

destination port by showing the following

documents1. Invoice

2. Packing List

3. Bill of Lading/FCR/Airway Bill

O On shipment of goods, exporter will sendthe documents to the importers bank


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Post-Shipment ProcedureO A foreign buyer will make payment in two

ways:

1. TT

2. Letter of creditO If the payment term are confirmed L/C then

the payment will be made by the foreign bankon receiving the following documents

1. Invoice

2. Packing list3. B/L

4. Any other required by the buyer or thecountry of import


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Payment termO The payment term can be :

1. At sight

2. Within 15 days from Bill of Lading or AirwayBill date.





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Payment term cont

O After shipment, exporter sends the

documents to the buyers bank for

paymentO On confirmation, the buyer bank will make

payment in the foreign currency

O Transaction will be bank to bank


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Cont.

O The domestic branch will credit the

exporters account, in Indian rupees.

O If payment is through wire transfer, thepayment will be made as per terms

agreed by the exporter (i.e. 50% advance

& remaining 50% on shipment)


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