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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