Export Procedure
1. Receipt of an Order
2. Obtaining License and Quota After getting the order from the importer
3. Letter of Credit
4. Fixing the Exchange Rate
5. Foreign Exchange Formalities
- The foreign exchange earned by the exporter complied with FEMA.
- Shipping documents and negotiations are required to be done through AD.
- The payment against the goods exported will be collected through only AD.
6. Preparation for Executing the Order The exporter should make required arrangements for executing the order:
- Marking and packing of the goods
- Getting the inspection certificate
- Obtaining insurance policy from ECGC
- Obtaining a marine insurance policy as required.
- Appointing a custom house agent
7. Formalities by a custom house agent include –
- Permit from the customs department.
- Details of the goods to be exported such as nature, quantity, and weight to the shipping company.
- Prepare a shipping bill.
- Make two copies of the port challans and pays the dues.
- The master of the ship is responsible for the loading of the goods on the ship. The loading is to be done on the basis of the shipping order in the presence of customs officers.
- Once the goods are loaded on the ship, the master of the ship issues a receipt for the same.
8. Bill of Lading
9. Presentation of Documents to the Bank in India
10. The Realisation of Export Proceeds