Download - Ex im procedure in india
EX-IM PROCEDURE IN INDIA
Presented by
Mobin & yadhu
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
IMPORT PROCEDURES
• Obtaining import license and quota
• Obtaining foreign exchange
• Placing an order
• Dispatching letter of credit
• Appointing clearing and forwarding agents
• Receipt of shipment advice
• Receipts of documents
• Bill of entry
• Delivery order
• Clearing of goods
• Payment to clearing and forwarding agent
• Payment to exporter
• Follow up
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.
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.
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.
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.
CONSULAR INVOICE
A document certifying a shipment of goods and shows information such
as the consignor, consignee and value of
the shipment.
COMMERCIAL INVOICE
Document required by customs to determine true
value of the imported goods, for assessment
of duties and taxes
LETTER OF CREDITIt 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
BILL OF ENTRYA 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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