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

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.