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It is prepared by an exporter and sent to the importer for necessary acceptance. This document suggests to a buyer what the actual invoice would look like if he were to place an order and the goods were to be supplied to him.
It is a consolidated statement in a prescribed format detailing how the goods have been packed. It is informative and itemized the material in each individual package It is very important document for customs at the time of examination and for the warehouse keeper of the buyer
. importer and the consignee and the description of the goods.Commercial Invoice • It contains the name of the exporter. • It is to be signed by the exporter or by his agent.
which are being exported are actually manufactured therein. • This certificate is sent by the exporter to the importer. . • It is useful for the clearance of the goods from the customs authority of the importing country.Certificate of origin This certificate indicates that the goods .
if available.Generalised System of preference Certificate of Origin • It is mainly issued for taking the advantage of preferential duty concession. .
• It contains a description of export goods. the country of destination. the name of the vessels. number and kind of packages.Shipping Bill/ Bill of Entry • It is a requisite for seeking the permission of customs to export goods by sea/air. .value of goods.
ARE-I FORM • This form is an application for the removal of excisable goods from the factory premises for export purposes. including customs. range office of excise and refund office of excise. . • It has multiple copies which are distributed to different authorities.
It contains : Name of the vessel • Port of loading • Port of discharge • Packing details • Shipping marks and numbers • Description of goods • Gross weight • Container number • Seal number .Mate’s receipt • It is issued by the captain of the ship after taking the deliveries of the goods.
• Details of commission and discount due to foreign agent or buyer. Freight. discount and commission. a PP form and SOFTEX form. giving break up of FOB. GR Form contains: • Name and address of the exporter and description of goods • Name and address of the authorized dealer through whom proceeds of exports have been or will be realized. insurance. .Exchange Declaration Form (GR/SDF) • The RBI has prescribed a GR Form/SDF. • The full export value.
• The duplicate copy of the GR Form will be returned to the exporter through the concerned agent.the original of the GR Form will be retained by the customs for onward submission to the reserve bank of India. .Distribution of Copies of GR form • GR forms covering the export of goods should be completed by the exporter in duplicate and both copies should be submitted to customs at the time of shipment. • Customs will verify all particulars of all goods and the value will be declared in the GR Form. • After the shipment has been sent. • Qn exporter will submit this duplicate copy to his banker.
. It facilitates electronic data interchange system.Statutory Declaration Form • The GR Form has been replaced online by a new form known as SDF.
Post Parcel Form • When goods are exported by post. • It is to be signed by the banker of the exporter • This form will be submitted in post office along with the parcel • The post office will send the form to the RBI. then instead of the GR Form. the exporter has to fill up a post Parcel form in triplicate. .
shall be submitted in department of electronics of Govt of India. .SOFTEX Form • This is in respect of export of computer software and audio/video/tv software. • The officials shall forward the copies to the RBI.
containing an order.Bills of Exchange • It is an instrument in writing. • Sight draft • Usance draft . signed by the maker. directing a certain person to pay a certain amount only to the order of a person to the bearer of the instrument.
. The attestation is usually performed by a government agency or indeprndent testing organisation.Inspection Certificates • The inspection certificate is required by some importers and countries in order to get the specifications of the goods shipped attested.
It acknowledges the receipt of the goods mentioned in the bill. • It is alegal document to be referred in case of any dispute over the shipm • I .Bill of Lading • It is a document issued by the shipping company or its agent.
Airway Bill • It is a contract between the owner of the goods and the carrier of its agent .
.Insurance Certificates • Ihe insurance certificates is used to assure the consignee that insurance will cover the loss or damage to the cargo during the transit.
Consular Invoice • A commercial invoice is required to be signed by the consular of the importing country located in country of export. .
Methods of Paymemt .
Documents for payment • Commercial invoice • Packing list • Certificate of origin/GSP certificate of origin • Airway bill/ Bill of lading • Inspection certificate .
Methods of payment • • • • Advance payment Open account Bills of exchange Letter of credit .
Advance payment • Under this methods exporter receives payment from the overseas importer in advance in the form of demand draft of cheque denominated in foreign currency .
• This mode of payment provides for payment at some specific future date.Open account • It is an arrangement between the exporter and the importer whereby the goods are manufactured and delivered even before the payment is required. .
Documentary Collection • The documentary collection involves collection of given sum of money by a bank due from the importer against delivery of certain documents at the instruction of the exporter .
Parties involved in • • • • The Exporter The collecting bank The remitting bank The importer .
.Document Against Payment • Under this method. the shipping documents concerning the shipment of goods given to the importer against payment for the goods.
.Document against Acceptance • The remitting bank handover the shipping documents to the importer only upon acceptance of the accompanying draft. • There is always a period pf credit on the expiry of which the importer is required to make the payment.
.Letter of credit • It refers to a written undertaking given by the importer’s bank. at the request of the importer. to the exporter that the payment shall be made to him against stipulated documents .
Parties to the letter of credit Issuing bank Applicant Beneficiary Negotiating bank .
known as advising – bank Advising bank authenticates the letter of credit and sends it to the exporter. The importer approaches his bank to open letter of credit in favour of exporter The importer’s bank sends letter of credit to the exporter through one of its corresponding bank in the exporters’ country. .Procedure for the issue of letter of credit Exporter and importer enter into a contract which provides for payment by means of letter of credit.
Contents of letter of credit • • • • • • • • • • Name and address of the exporter Name and address of the importer Type of letter of credit Amount of credit Name of the nominated bank.quantity of the items and the unit price List of documents to be submitted Port of discharge and place of final shipment. Description of goods. Terms of delivery The last date of sending the shipment .
Prepared by The International Chamber of Commerce .Incoterms • International commercial terms.
FREIGHT CARRIAGE PAID TO(CPT) CARRIAGE AND INSURANCE PAID TO(CIP) DELIVERED AT FRONTIER(DAF) DELVERED EX SHIP DELIVERED EX QUAY DELIVERED DUTY UNPAID DELIVERED DUTY PAID1 . INSURANCE.• • • • • • • • • • • • • EX WORKS FREE CARRIER FREE ALONGSIDE SHIP FREE ON BOARD COST AND FREIGHT COST.
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