Export Prequisites

Vital Documents Used In Export Transaction

A. Documents Related to Goods

• Seller Bill:- It is a seller’s bill data about products like amount, a number of packages, blemishes on packing, the name of the ship, port of destination, terms of delivery and payment and so on.
• Certificate of Inspection:- For guaranteeing quality, the government has made an inspection of specific products necessary by some approved organization like trade Inspection board of India (EICI) and so forth. In the wake of reviewing the merchandise, the organization issues a certificate of inspection that the merchandise has been reviewed as required under the export (Quality Control and Inspection) Act, 1963.
• Packing List:- This document is with respect to the number of cases or packs and the details of products contained in these packs. It gives finish insights with respect to the products sent out and the condition in which they are being sent.
• Testament of Origin:- This authentication indicates the nation in which the merchandise is being produced. This authentication empowers the importer to claim levy concessions or different exemption. This declaration is likewise required in the event that when there is a prohibition on imports of a few products in specific nations.

B. Documents Related to Shipment

• Transportation Bill: It is the basic document based on which consent is allowed for the export of merchandise by the customs office. It contains details of as to whom the merchandise being sent, the name of the vessel, exporter’s name and address, a nation of definite goal and so on.
• Mate’s Receipt:- This receipt is issued by the captain or mate of the ship to the exporter after the merchandise are stacked on board the ship. It contains the name of the vessel, quantity, marks, condition of the freight at the time of receipt on board the ship and so on.
• Bill of lading – It is a record issued by the shipping organization. It goes about as a proof with respect to the acknowledgment of the delivery organization to convey the merchandise to the port of destination. It is additionally referred to as the title to the merchandise and is openly transferable by underwriting and delivery.
• Airway Bill: Similar to a shipping bill, it is a record issued by the airline organization on getting the products on board.
• Cart Ticket:- Also known as cart chit or gate pass, it is established by the exporter. It contains insights with respect to sending out payload like a number of items, shipping charge number, port of destination and so forth.
• Marine Insurance Policy: It is a document containing contract between the exporter and the Insurance Company to reimbursement the safeguarded against the misfortune brought in regard to products presented to the risks of the ocean travel in light of an installment called premium

C. Document Related to Payment

• Letter of credit:- It is an assurance letter issued by the importer’s bank expressing that it will respect the export bills to the bank of the exporter up to a specific sum.
• Bill of exchange: In export and import exchange, exporter draws the bill on the importer requesting that he pay a predefined money to someone in particular or the owner of the instrument. The records required by the importer for guaranteeing the title of exported merchandise are passed on to him just when the importer acknowledges this bill.
• Bank Certificate of Payment:- It is a declaration that the required documents identifying with the specific export deal have been arranged and payment has been gotten related with the exchange control regulation.