Procedure of Export from India
We are putting very concise detail which will help new/ upcoming exporters.
a) Firstly, get an IEC code in the name of exporter whether Proprietor/ Partnership Firm/ Pvt Ltd. etc
b) Look for available products which can be offered in International market. If you are a manufacturer or trader, you need to explore market by different means to understand the demand of your product.
c) Check for licenses, certification and statutory compliance required for export of the product.
d) Correspondence/ Interact with buyers, provide them complete specification of your product and understand their requirement.
e) Do proper calculation of your cost whether it is FOB/ CIF/ CNF etc. Be very careful about pricing, as pricing depends on various factors. Compare your price with existing market price.
f) Quote your competitive price to buyers with terms and conditions.
g) Once agreed, both buyer and seller enters into agreement. Check all terms and conditions very minutely and carefully, keep your interest protected.
h) After completion of above process, appoint a CHA from where you have to load cargo and proceed for export. Here, an exporter needs to do formalities for documentation and customs which we will elaborate in next blog.
i) Processing of Export documents - Under L/c , DP or DA and involvement of Bank. This we will cover in our upcoming blogs.
j) Once export is done, your buyer will pay you according to the terms and conditions of your contract.
k) Marine insurance is required as per contractual terms and ECGC is required to minimize risk associated in export.
We will cover each portion in full detail in next blogs. For any inquiries please contact us by email.
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