Perfect tips to help you study Export-Import Procedures and Documentation


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ex-im

Export-import procedures and documentation is a completely theoretical subject. Unless you have a family background of export-import or are really interested into trade, this subject will be very new and very boring at the same time. It also includes a lot of documentation, which needs to be done up perfectly. It is quite easy if you focus on it and put in a little efforts.

Let us analyze the subject section wise to know how to go about it:

I)  Preliminaries for Exports and imports :

 

  • Meaning and Definition of Export
  • Classification – Strategy and Preparation for Export Marketing –
  • Export Marketing Organization
  • Registration Formalities – IEC – RCMC –
  • Export Licensing
  • Selection of Export Product
  • Identification of Markets
  • Methods of Exporting
  • Quotations
  • Payment Terms
  • Letter of Credit.
  • Liberalization of Imports
  • Negative List for Imports
  • Categories of Importers
  • Special Schemes for Importers

 

TIPS:

  • The formalities need to be done precisely and special schemes.
  • Rest of the topics, although new are very easy to study.
  • Quotations, Payment Terms, Letter of Credit- all are important from exam perspective.

 

II) Export Import Documentation

  • Aligned Documentation system
  • Commercial Invoice
  • Shipping Bill
  • Certificate of Origin
  • Consular Invoice
  • Mate’s Receipt
  • Bill of Lading
  • GR Form
  • ISO 9000
  • Procedure for obtaining ISO 9000
  • BIS 14000 Certification
  • Types of Marine Insurance Policies.
  • Import Documents
  • Transport Documents
  • Bill of Entry
  • Certificate of Inspection
  • Certificate of Measurements
  • Freight Declaration.

 Tips:

  • The easiest section of the subject, various documents and their details need to be studied.
  • Take up this section last, finish the lengthy sections first.
  • Study the different types of documents carefully answers need to be precise and to the point.

 

III) Export Import Procedure:

  • Steps in Export Procedure
  • Export Contract
  • Forward Cover
  • Export
  • Finance Institutional Frame worked for export Finance
  • Excise Clearance
  •  Pre-shipment Inspection
  • Methods of Pre-shipment Inspection Marine Insurance
  • Role of Clearing and Forwarding Agents
  • Shipping and Customs Formalities
  • Customs EDI System
  • Negotiation of Documents
  • Realization of Exports Proceeds.
  • Pre-Import Procedure
  • Steps in Import Procedure
  • Legal Dimensions of
  • Import Procedure
  • Customs Formalities for Imports
  • Warehousing of Imported goods
  • Exchange Control Provisions for Imports
  • Retirement of Export Documents.

Tips:

  • A very lengthy section, take up this section first.
  • Concepts and answers are not very difficult, but time consuming.
  • In certain answers you can learn the head points and fill in the details as per your understanding.

 

 

IV) Policy and Institutional Framework for Exports and Imports:

  • Foreign Trade Policy
  • Highlights
  • Special Focus Initiatives
  • Duty Drawback
  • Deemed Exports
  • ASIDE
  • MAI & MDA
  • Star Export Houses
  • Town of Export Excellence
  • EPCG Scheme
  • Incentives for Exporters.
  • Export Promotion Councils
  • Commodity Boards
  • FIEO
  • IIFT
  • EOUs
  • SEZs
  • ITPO
  • ECGC
  • EXIM Bank.

 

 Tips:

  • A bit lengthy and extensive too, policies and frameworks need to be studied very carefully.
  • Concepts like SEZ, EXIM Bank and export promotion councils are important.

 

 

 


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Ami Pandya

'Ever Learning, Ever Evolving, Never Giving up' sums up www.bms.co.in's Content Manager and passionate writer, Ami. She is a BMS graduate who has freelanced in the past with the top Indian newspapers and magazines. Apart from writing she also likes to indulge into travelling, photography and social work.

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