IMPORT EXPORT DOCUMENT & EXPORT ORDER PROCESS

EXPORT ORDER PROCESS

exporter importer

Importers bank

Manufacturing

Importer warehouse

Secure transportation and documentation

Ship

customers

bank in exporters country

1. The importer makes inquiry from potential supplier exporter sends catalogs and price list .Importers request for samples . Exporter receive purchase order.

2.Importer arranges financing through his bank.

3.importer’s banks sends letter of credit. (most frequently used form of payment).

4.Exporter’s bank notifies exporter that letter of credit is received.

5.Exporter produces goods.

6.Exporter arranges transportation and documentation . space reserved on ship or aircraft. Documents produced, as required: (a) exporter’s licence. (b) shipper export declaration. (c) commercial invoice. (d) bills of lading. (e) marine insurance certificates. (f) certificate of origin.

7. Exporter ships goods to importer

8.exporter presents documents to bank for payment.

9. importer has goods cleared through customs and delivered to his warehouse.

• Export Charges & Requirements

• Export charges:

• A limited number of items, mostly primary commodities or processed agricultural products, are subject to duties. Currently, the only products subject to an export tax (at the rate of 10%) are goat, sheep and bovine leathers. Products may also be subject to a minimum export price. The list of products subject to minimum prices includes basmati and non-basmati rice, cotton, and hard and soft cotton waste. Most minimum export prices are specified in dollars on an fob basis.

• Settlement of Bills: The Government prescribes conditions for exchange control and settlement of bills related to exports under the authority of the Foreign Exchange Regulation Act, 1973. For normal commercial exports to all countries, except Nepal and Bhutan, exporters are required to complete the GR Form in duplicate. The GR Form covers exports not made by post.

• With few exceptions, all exports must be declared on the appropriate form and the exporter's code number as assigned by the Reserve Bank of India must be shown on the form.

• The payment arrangements are letter of credit, sight draft, time draft and shipment on consignment. The time limit for settlement of export proceeds, that is, the amount representing the full export value of the goods, is six months. A maximum of 15 months is allowed for exports to Indian-owned warehouses abroad.

Documents: The following documents are required for exports:

• GR form; • export license; • export declaration; • customs entry form; • customs invoice; • commercial invoice; • certificate of origin; • bill of lading/air waybill; • packing list. • Special documents may be required depending on the type of product or

destination. Certain export products may require a quality control inspection certificate from the Export Inspection Agency. Some food and pharmaceutical product may require a health or sanitary certificate for export.

• To cover products under GSP (generalized system of preferences) a certificate of origin may be required. The Export Inspection Agency, the various export promotion councils, chambers of commerce or the regional offices of the Chief Controller of Imports and Exports are the responsible bodies for issuing the certificate of origin

• Import documents

• The obligation to submit to customs documents covering imported goods

• An importer shall submit to customs authorities import documents before imported goods are removed from storage at the transporter, placed in a bonded warehouse or removed from a bonded warehouse or a free zone for disposal domestically; the documents shall be submitted to customs no later than 3 months from the date of arrival of the vessel which transported the goods to the country.

• Import documents shall be submitted to the director of customs in the customs district where the goods are unloaded from the vessel, unless the goods are transported undeclared to another customs district and arrangements are made for customs treatment there.

• Documents that shall be submitted

• The following documents shall be submitted with an import declaration, as far as applicable:

• an invoice

• a bill of lading or a transport document issued in connection with the transport of the goods; however when there is submitted a bill covering freight charges or a notice from the transporter to the consignee concerning a consignment of goods, and these documents contain the same information as specified in regular bills of lading, a bill of lading need not be submitted unless specially requested,

a certificate of origin when preferential customs treatment is requested in accordance with international agreements to which Iceland is a party, unless a declaration of origin has been entered on the invoice,

• other documents concerning the imported goods which are of relevance to their customs treatment, e.g. an import licence when required, a confirmation of an authorization for special customs treatment when such is the case, or other certificates required in special circumstances.

• Invoices

• Invoices shall contain the following information:

• name and address of the seller (consignor),

• name and address of the buyer (consignee),

• place and date of issue,

• when the sale took place,

• number of pieces, type of packing, weight, marks and numbers,

• the goods contained in a consignment, type, make and quantity (number, weight or measurements, as the case may be),

• the selling price of individual articles and the currency in which the price is specified,

• terms of payment, payment conditions and delivery conditions, discounts and other deductions and the reasons for granting such discounts or making such deductions.

• An original or a copy of the documents listed above may be

submitted to customs, provided that international agreements to which Iceland is a party do not stipulate otherwise.

• An importer may submit such import documents which he has received in other forms than in writing, for example by computer media or telecommunications.

• If customs authorities deem it necessary, they can always stipulate that an importer must submit an original of the aforementioned documents.