How To Export Goods From India? Steps For Exporting Goods

Step 1. Receipt of an order

The exporter has to larn himself registered amongst diverse authorities similar RBI, income revenue enhancement authorities, etc. In addition, he has to appoint agents or distributors for collection of orders from unusual countries. Exporter receives an guild from importer straight or through Indent House.

Step 2. Obtaining License in addition to Quota

After obtaining order, exporter has to secure export license from the government. For this, he has to apply to the Export Trade Control Authority in addition to obtain the valid license. Quota is the total quantity of goods that is permitted for exports.

Step 3. Letter of Credit

Exporter demands missive of the alphabet of credit from importer or sometimes importer may post it himself along amongst the order.

Step 4. Fixing central rate

Exchange charge per unit of measurement agency the charge per unit of measurement at which the currency of ane province is exchanged for the currency of merely about other country. It fluctuates from fourth dimension to time. Hence the exporter in addition to importer cook the central charge per unit of measurement mutually.

Step 5. Foreign central formalities

Here the exporter has to undergo certainly unusual central formalities every bit seat downward nether central command regulations. According to FERA (Foreign Exchange Regulation Act of India) every exporter has to provide a announcement inward the shape prescribed for this purpose.

The announcement states :-

1. Foreign central earned yesteryear way of exports volition live on disposed inward the mode in addition to inside the stream specified yesteryear RBI.
2. Negotiations of transportation documents volition live on through authorised dealers inward unusual exchange.
3. The payment for goods exported volition live on collected exclusively through approved method.

Step 6. Preparation for executing the order

The exporter makes necessary arrangements for executing the order.

In this honour he performs the next activities :-

1. Packing in addition to marker of the goods every bit per the specifications of the importer.
2. Arranging the pre-shipment inspection yesteryear the Export Inspection Agency in addition to getting the inspection certificate from it.
3. Securing insurance policy from the Export Credit Guarantee Corporation (ECGC) to larn protection against the credit risks.
4. Obtaining a suitable marine insurance policy, consular invoice in addition to certificate of origin, if required.
5. Appointing a forwarding agent for treatment the customs in addition to forwarding activities.

Step 7. Formalities done yesteryear forwarding agent

The Forwarding Agent completes the next formalities :-

1. He obtains the Customs' Permit from the Customs Department for exporting goods.
2. The Forwarding Agent discloses the details of the goods such every bit their nature, size, quantity, weight, etc. to the transportation company.
3. The Forwarding Agent prepares a Shipping Bill.
4. The Forwarding Agent prepares 2 copies of the dock challans in addition to pays the dock dues.
5. The Captain of the ship gets the goods loaded on the ship on the footing of the Shipping Order inward the presence of client officers.
6. When the goods are loaded on the ship, the Mate (Vice Captain or the Captain) issues a receipt, called Mate's or Captain's Receipt.

Step 8. Bill of Lading

The exporter approaches the transportation company, presents the Mate's Receipt in addition to inward central receives a document called Bill of Lading. It is an official receipt given yesteryear the transportation companionship every bit an acknowledgement of the receipt of goods to live on transported to the port of destination. It is too a contract for the railroad vehicle of goods. It gives total description of goods loaded on the ship, cite of the port of destination, etc.

Step 9. Shipment advice to importer

The exporter sends Shipment Advice to the importer informing him most the dispatch of the goods. He sends a re-create of packing list, commercial invoice in addition to a non-negotiable re-create of the Bill of Lading, along amongst the Advice Note.

Step 10. Presentation of documents to the bank

The exporter confirms that he has secured a consummate seat of the transportation documents namely, the Bill of Lading, Marine Insurance Policy, Certificate of Origin, the Consular Invoice in addition to the Commercial Invoice. He in addition to then draws a Bill of Exchange on the footing of the commercial invoice. The Bill of Exchange accompanied yesteryear these documents is called Documentary Bill of Exchange. Such a nib may live on a D/P (Documents against payment) nib or D/A (Documents against Acceptance) bill. The exporter hands over the documnetary nib to his bank.

Step 11. Realisation of export proceeds

For realisation of export proceeds, the exporter has to undergo certainly banking formalities. Generally he receives payment inward unusual currency yesteryear nib of central or yesteryear banking company draft.

Step 12. Follow up

After the sales, exporter should e'er bring a follow-up, to detect out buyer's reactions towards the goods. Such follow upward builds goodwill in addition to the exporter tin larn to a greater extent than in addition to to a greater extent than orders inward future.

How to import Goods inward India?

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