Customs clearance and Release of goods EXPORT PROCEDURE Receipt of Enquiry and Sending Quotations Receipt of Order or Indent Assessing Importer’s Credit worthiness and securing a guarantee for payments. Obtaining Export license Obtaining Pre shipment Finance Production or Procurement of Goods Pre shipment Inspection Excise Clearance Obtaining certificate of Origin Reservation of Shipping Space Packing and forwarding Insurance of Goods Customs Clearance Obtaining Mate’s Receipt Payment of Freight and issuance of Bill of Lading Preparation of Invoice and Securing Payment Documents used in Export Transactions Documents related to Goods Documents Related to Documents Related to Shipment Payment Export Invoice: Mate’s Receipt: Letter of Credit: It is issued by the exporter. It is issued by the It is a guarantee issued by commanding officer of the the importer’s Bank that it It provides information like ship to the exporter after the will honor payment up to a quantity of goods sent, total cargo is loaded on the ship. certain amount of export bills value of goods etc. to the bank of the exporter. It contains details like name of the vessel, berth, date of shipment, description of packages, marks and numbers etc. It is very important receipt as shipping company issues the bill of lading only after
Customs clearance and Release of goods EXPORT PROCEDURE Receipt of Enquiry and Sending Quotations Receipt of Order or Indent Assessing Importer’s Credit worthiness and securing a guarantee for payments. Obtaining Export license Obtaining Pre shipment Finance Production or Procurement of Goods Pre shipment Inspection Excise Clearance Obtaining certificate of Origin Reservation of Shipping Space Packing and forwarding Insurance of Goods Customs Clearance Obtaining Mate’s Receipt Payment of Freight and issuance of Bill of Lading Preparation of Invoice and Securing Payment Documents used in Export Transactions Documents related to Goods Documents Related to Shipment Documents Related to Payment Export Invoice: It is issued by the exporter. It provides information like quantity of goods sent, total value of goods etc. Mate’s Receipt: It is issued by the commanding officer of the ship to the exporter after the cargo is loaded on the ship. It contains details like name of the vessel, berth, date of shipment, description of packages, marks and numbers etc. It is very important receipt as shipping company issues the bill of lading only after Letter of Credit: It is a guarantee issued by the importer’s Bank that it will honor payment up to a certain amount of export bills to the bank of the exporter.
6682436911bst_study_mat_16-17.docx