Export Procedure In general, an export procedure initiates with the willingness to send the goods and services to other foreign nations at some price, these procedures of export are stated below: + Step 1: ReceiptOrder The Indian exporter will receive the order either directly from the importer or through the indent houses. * Step 2: ObtainingLicenseand Quota After receiving the order from the importer, the Indian exporter is required to obtain an export license from the Government of India, for this the exporter needs to apply to the Export Trade Control Authority and get a valid license for this. * Step 3: Letterof Credit The exporter then asks the importer for the letter of credit, if the importer does not send the letter of credit along with the order. + Step 4: Fixingthe ExchangeRate The rate at which the home currency can be exchanged with the foreign currency is then fixed. The foreign exchange rate fluctuates from time to time so they need to fix the rate of exchange.* Step 5: ForeignExchangeFormalities ‘As per the Foreign Exchange Regulation Act of India (FERA), every exporter of the goods Is required to furnish a declaration in the form prescribed in a manner in the Act. * Step 6: Preparationfor Executingthe Order ‘The exporter should make the required arrangements to execute the order: * Step 7: Formalitiesby a ForwardingAgent Then the formalities are to be performed by the agent which includes obtaining a permit from the customs department, preparing the shipping bill, paying the dues after disclosing the required details of the product being exported * Step 8: Billof Lading The Indian exporter of the goods presents the receipt copy to the shipping company and issues the Bill of Lading. + Step 9: ShipmentAdviceto the Importer The Indian exporter sends shipment advice to the importer of the goods to inform him about the shipment of the goods. * Step 10: Presentationof Documentsto the Bank The Indian exporter needs to confirm that he possesses all the necessary shipping documents. * Step 11: The Realizationof ExportProceeds The exporter of the goods needs to comply with banking formalities after submission of the bill of exchange.