Import Procedures and Documentations

Import is a very important function of our economy. It is one of the most regulated sectors of our economy. Let us understand the in-depth import procedures and their important documentation.

1. quality, quantity, size and grade of goods instructions with respect to packaging, delivery shipping, a method of payment and so on.
2. At the point when the payment terms concur between the importer and the overseas provider, the importer gets the letter of credit from its banker and forwards it to the overseas provider.
3. The importer arranges for money. in advance to pay the exporter on arrival of goods at the port this empowers the importer to avoid huge penalties on the imported goods lying uncleared at the port for the need of payment.
4. The overseas supplier after loading the merchandise on the ship dispatches the “Shipment Advice” to the importer. It gives information with respect to the shipment of goods like receipt number, bill of lading/airway bill, the name of the ship with date description of merchandise and amount and payment

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