Procedures and Formalities

Briefly summary of some of the most common Procedures and Formalities for an exportation to overseas countries

  1. As an exporter, you would have know government rules and export regulations.

  2. Export samples can be required by your international buyer.

  3. You have to agree with your customer on terms of payment and terms of delivery,

  4. You have to arrange to issue a  proforma invoice.,

  5. You will receive an export order and a  purchase order from your overseas buyer.

  6. The terms of payment for your export contract could be advance payment, Documents against acceptance (DA),Documents against Payments (DAP), or under letter of credit (LC).

  7. If you as overseas seller require to cover credit risk against your overseas buyer, you can approach concerned authorities to cover insurance.

  8. Being an exporter, you will have an idea about other risk involved in the export process. The terms of delivery could be any INCOterms.

  9. You would like to arrange Finance against export, you can approach your bank for pre shipment or post shipment finance.

  10. Remember that Palletization of good is arranged as well, for safety of cargo.

  11. If your export goods are shipped by sea, you will need information about shipping based on the nature of your export goods.

  12. It will be necessary prepare the following documentation export invoice and export packing list based on the purchase order.

  13. Application for certificate of origin and other required documents will be also required for the importer.

  14. Necessary documents required for export customs clearance, has to be forwarded to your Customs Broker.

  15. The export process at customs is completed either by the customs broker or by you directly.

  16. The bill of landing is issued by carrier of goods.

  17. If the bill of landing is required on board, you have to wait to get the export shipment go on board the vessel.

  18. If you export your goods, from a dry port, you have to wait till the cargo to go onboard the vessels. If you need the on board bill of landing from shipping carrier.

  19. After completion of export customs clearance procedures and collection of bill of landing, the necessary documents for bank and overseas buyer will be prepared.

  20. If you have availed a packing credit from bank, the amount of discounted/negotiated export bill amount will be adjusted once bank receives export proceeds from your overseas buyer.

  21. If bank does not receive such export proceeds from your overseas buyer, your bank can approach credit insurance company for claim, if such cover was done by you or your bank at the beginning of the export process.

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