Import and export are the two sides of the trade coin. These are one of the most chosen ways of booming business by the tycoons on a global level. The traders who wish to begin trading either in the kind of export or import ought to follow the given procedures and have proper documents.
It's not a simple task to get the whole knowledge on export procedures and documentation in India by books, and there is no books in detail to deliver the application level knowledge.
Export procedures and documentation in India is one of the most important part carried out by exporters. Shipping or export documents sketch the shipment, sale and responsibilities of the parties playing its role in the trade. Therefore, it helps in quick understanding and easy completion of transaction and evading the delay. Documents guarantee the conformism of all regulations.
Export procedures and documentation in India can have numerous requirements as per the country, commodity and products, like quality control inspection certificate mandatory for the export of numerous products.
At NIFT, we train our students in Export procedures and documentation in India with our certified programs and well-formulated modules by industry experts.
Definition and meaning of exports: Understanding an Export Transaction.
Exchange Rate Mechanism: Basic Concepts. Direct Quotation Method, Spot and Forward rates and booking of Forward contract for exports. NOSTRO, VOSTRO and LORO A/Cs.
Procedure: How to set up an Export Company, Categories of an Exporter. Procedure for obtaining IEC and RCMC. Various Export Promotion Organizations i.e. EPC, CB's. Export sales contract, Export order, processing and Scrutiny of an Export order. Execution of an Export Order.
Payment Terms: Payment terms for settlement of export import transaction. Letter of credit, its contents and types of LC. Uniform Customs Procedures for Documentary Credits (UCPDC).
Documentation: Entire export documents, i.e. Principal, Auxiliary and Regulatory set of documents used in export trade and their importance.
Customs Clearance of Cargo meant for exports: Excise clearance procedure. Role of customs house agents. Shipping and customs formalities. Marine insurance.