Document procedures for exports and imports in India
As per DGFT Notification dated March 12, 2015, Indian exporters and importers require the following three mandatory documents in foreign trade. MANDATORY DOCUMENTS IN INDIA FOR EXPORT & IMPORT Sr.No Export Import 1 Bill of Lading/ Airway Bill Bill of Lading/ Airway Bill 2 Commercial Invoice cum Packing List Commercial Invoice cum Packing List 3…
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Eligibility norms for bank finance to exporters
Banks extend export credits to exporters of goods and services, where the loans are released for procuring, Packing processing (where necessary), manufacturing and finally for packing of goods. The credit facility is also available to service providers for the working capital requirement like the purchase of consumables, wages, and supplies etc. for the rendering of…
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What are the types of post-shipment finance available from banks?
(This post provides details about Purchase of export bills, Discount of Export Bills, Negotiation of Export bills, Advance against Undrawn Balances on Export Bills, Advance against Retention Money, Advance against Duty Draw Back, Advance against Deemed Exports, Advance against export of Goods for Exhibition and Sale) Post-shipment Export credit facility in banks means finance made to an exporter…
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Understanding ECGC Guarantees available to the exporters
ECGC is designed to guard exporters from the consequences of the payment risks, both political and commercial, which enables the exporters to expand their overseas business without fear of loss. ECGC covers losses that may be incurred in extending loans by the banks and other financial intermediaries to exporters. The major forms of Guarantees offered…
Read article Meaning of Status holder/export houses and their privileges
(This post covers latest updates and amendments to earlier policies envisaged in Foreign Trade Policies 2015-2020 in respect of status holders.) The status- holder position allotted to the exporters of goods and services depending upon certain level of export performance achieved by them. The exporters of goods/service who hold valid importer-exporter code no. (IEC) may…
Importance of labeling the exporting/importing container
Labeling is an important element for products for exporting/importing a container out of/into the country. Primarily, labeling is the technique of identifying the cargo during the operation till the cargo touches the importer’s doorstep. The label on the consignment also gives information about how the package or product should be used. Labeling on the product…
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