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Unit 2, 3,4 (Extra)

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23 views3 pages

Unit 2, 3,4 (Extra)

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1ssc1cgl1
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roles of forwarding agents in the export :- 1.

Documentation and Paperwork: Assist exporters in preparing and processing the required export documentation, including commercial
invoices, packing lists, bills of lading, certificates of origin, and other necessary paperwork. Ensuring accurate and complete documentation is crucial for customs clearance and
compliance.
2. Customs Clearance: Facilitate customs clearance by working closely with customs authorities. Forwarding agents help ensure that all necessary documentation is in order, and they
navigate the complexities of customs procedures to expedite the clearance of goods for export.
3. Transportation Coordination: Arrange and coordinate the transportation of goods from the exporter's location to the final destination. This involves selecting the appropriate mode
of transport (air, sea, road, or rail), booking cargo space, and managing the logistics of the shipping process.
4. Freight Booking and Negotiation: Negotiate freight rates with carriers, including shipping lines, airlines, trucking companies, and other transportation providers. They secure the best
terms and conditions for the movement of goods, considering factors such as cost, transit time, and route efficiency.
5. Cargo Insurance: Provide guidance on cargo insurance and assist exporters in obtaining coverage. Cargo insurance protects against potential losses or damages during transportation,
and forwarding agents help determine the appropriate level of coverage.
6. Packaging and Labeling Compliance: Ensure that goods are properly packaged and labeled in accordance with international standards and regulations. Proper packaging and labeling
are critical for compliance and the safe transportation of goods.
7. Route Optimization: Determine the most efficient and cost-effective transportation routes for shipments. Forwarding agents consider factors such as distance, transit times, and any
special requirements for the type of cargo being exported.
8. Warehousing and Distribution: Coordinate warehousing and distribution activities as needed, including storage, inventory management, and distribution of goods before they are
shipped. This is especially relevant for exporters dealing with larger volumes of goods.
9. Risk Management: Identify potential risks associated with transportation, customs clearance, and other logistics processes. Forwarding agents work to mitigate these risks and
address any issues that may arise during the export journey.
10. Tracking and Monitoring: Monitor the movement of goods and provide real-time tracking information to exporters. This helps keep exporters informed about the status and
location of their shipments.
11. Communication and Coordination: Act as a communication link between the various parties involved in the export process, including exporters, carriers, customs authorities, and
other stakeholders. Effective communication and coordination are crucial for a smooth export process.
12. Problem Resolution:a: Address and resolve issues that may occur during transportation, such as delays, damages, or changes in shipment plans. Forwarding agents act as
intermediaries to find solutions and minimize disruptions.
13. Compliance with Regulations: Stay informed about changes in international trade regulations and ensure that export activities comply with applicable laws. Forwarding agents
provide valuable expertise in navigating regulatory requirements.

IMPORT price quatations :- 1. Exporter's Information: Full name, address, and contact details of the exporting company. 2. Importer's Information:
3. Quotation Date: The date when the quotation is issued.
4. Quotation Reference Number: A unique identifier for the quotation, which can be used in communication and record-keeping. 5. Description of Goods:
6. Unit Price: The price per unit of the goods in the agreed currency (e.g., USD, EUR) 7. Total Price:
8. Payment Terms: Clearly state the terms of payment, specifying the method of payment (e.g., letter of credit, advance payment, open account) and any associated deadlines.
9. Incoterms (International Commercial Terms): Specify the agreed-upon Incoterms that define the responsibilities and obligations of the buyer and seller regarding transportation, risk,
and costs. 10. Delivery Terms:
11. Validity of the Quotation: The period during which the quotation is valid. This is important as prices and conditions may change over time.
12. Currency: The currency in which the prices are quoted. 13. Quantity and Unit of Measurement: (e.g., pieces, kilograms, cubic meters).
14. Packaging Details: Information about how the goods will be packaged, including details about packaging materials and methods.
15. Validity of the Quotation:The period during which the quotation is valid. This is important as prices and conditions may change over time. 16. Insurance:
17. Taxes and Duties:Clearly state whether taxes and duties are included in the quoted price or if they are the responsibility of the importer.
18. Terms and Conditions: - Any additional terms and conditions that both parties need to be aware of, including warranties, return policies, or specific requirements.
19. Signature and Authorization:

The registration of importers 1. Verify Legal Requirements: Check Legal Requirements: Understand the legal requirements for importer registration in the specific country. Regulations
may vary, and certain goods or industries may have additional requirements.
2. Business Registration: Company Registration: Ensure that the importing company is legally registered and recognized by the relevant authorities in the importing country. This may
involve registering with the business registry or company registrar.
3. Tax Identification Number (TIN): Obtain TIN: Acquire a Tax Identification Number (TIN) or equivalent identification number. The TIN is often a prerequisite for engaging in import-
related activities.
4. Customs Registration: ( Contact Customs Authorities: Reach out to the customs authorities or the relevant government agency responsible for trade and customs. In many countries,
customs agencies oversee importer registration.) - (Submit Application: Complete and submit the required application forms for importer registration. This may include providing
details about the company, its structure, directors, and other relevant information.)
5. Documentation Required: Prepare Documentation: Gather necessary documentation, which may include: ( - Business registration documents.) - ( Proof of legal entity (e.g.,
certificate of incorporation). - ( Identification documents of the company's directors.) - ( Tax documents and TIN.) - ( Bank references) - ( Any specific documents
required by the customs authorities.)
6. Compliance with Regulations: - Comply with Import Regulations: Ensure that the company and its operations comply with all relevant import regulations. This may involve adhering
to specific product standards, safety regulations, and licensing requirements.
7. Import License (if required): Check for Import License Requirements: In some cases, certain goods or industries may require an import license. Verify if an import license is needed
and proceed with the application if required.
8. Security and Compliance Measures:- Implement Security Measures: Some countries may require importers to comply with security measures to ensure the integrity and safety of
imported goods. This could include participating in security programs or providing additional information.
9. Periodic Renewal and Updates: - (Renewal: Be aware of the validity period of the importer registration. Ensure timely renewal to avoid disruptions in import activities.) -
( Updates: Notify the customs authorities of any changes in the company structure, directors, or other relevant information. Keep registration details updated.)
10. Engage Professional Assistance: Consult Professionals: Seek guidance from customs brokers, legal advisors, or trade consultants familiar with the import regulations of the specific
country. They can provide valuable assistance in navigating the registration process.
11. Record Keeping: Maintain Records: Keep thorough records of all documents submitted during the importer registration process. This includes the registration certificate,
identification documents, and any correspondence with customs authorities.
12. Compliance with Trade Agreements (if applicable): Check Trade Agreements: If the importing country is part of any trade agreements or preferential schemes, understand the
eligibility criteria and compliance requirements. This can impact the import process and duties.
13. Continuous Monitoring and Compliance: Monitor Changes in Regulations: Stay informed about any changes in import regulations, trade policies, or customs procedures. Continuous
monitoring helps ensure ongoing compliance.
14. Training and Awareness: Training: Train relevant staff members involved in the import process to understand and adhere to import regulations. This helps prevent inadvertent
violations and ensures smooth operations.
The insurance and claims procedure in export :- 1. Determining the Need for Insurance: Assess the nature of the goods, the mode of transportation, the destination, and the
associated risks. Based on this evaluation, determine whether insurance coverage is necessary.
2. Choosing the Right Insurance Coverage: ( Select an appropriate type of insurance coverage. Common types include:) ( - Marine Cargo Insurance: Covers goods during sea
transport.) ( - Air Cargo Insurance: Covers goods during air transport.) ( - Land Cargo Insurance: Covers goods during road or rail transport.) ( - All-Risks Insurance: Provides broader
coverage against a variety of risks.)
3. Selecting an Insurance Provider: Choose a reputable insurance provider. This can be an insurance company or a specialized cargo insurer. Ensure that the selected provider offers
coverage suitable for the specific needs of the shipment.
4. Negotiating Terms and Premiums: Negotiate insurance terms and premiums with the insurance provider. Discuss coverage limits, deductibles, and any special conditions. Obtain a
clear understanding of the terms and conditions outlined in the insurance policy.
5. Issuing an Insurance Certificate: Once the insurance is secured, the insurance provider issues an insurance certificate. This certificate serves as evidence that the goods are insured
and provides details about the coverage.
6. Documenting the Shipment: Keep detailed records of the shipment, including commercial invoices, packing lists, bills of lading, and any other relevant documents. These documents
will be crucial when filing an insurance claim.
7. Notifying the Insurance Provider: In the event of loss or damage to the goods, notify the insurance provider as soon as possible. Prompt notification is essential for initiating the
claims process.
8. Filing a Claim: Prepare and submit a formal claim to the insurance provider. The claim should include documentation that supports the loss or damage incurred. This may include
photos, inspection reports, and other relevant evidence.
9. Claim Assessment: The insurance provider assesses the claim by reviewing the submitted documentation and conducting any necessary investigations. They may request additional
information or clarification.
10. Claim Settlement: If the claim is approved, the insurance provider will settle the claim amount with the exporter. The settlement amount is typically based on the insured value of
the goods, minus any deductibles specified in the insurance policy.
11. Dispute Resolution (if necessary): In case of disputes regarding the claim settlement, a resolution process may be initiated. This could involve negotiation, mediation, or, in extreme
cases, legal action.
12. Continuous Improvement: After the claims process, evaluate the circumstances that led to the loss or damage. Consider any improvements or preventive measures that can be
implemented to minimize future risks.

Import contract :- 1. Contact Information: Full names, addresses, and contact details of the importer and exporter. 2. Description of Goods:
3. Pricing and Payment Terms: ( - Unit prices, total cost, and currency of the transaction.) ( - Payment terms, including the method of payment (e.g., letter of credit, wire transfer)
and any milestones for payments.)
4. Incoterms (International Commercial Terms): Clearly specify the chosen Incoterms that define the responsibilities and obligations of the buyer and seller in terms of transportation,
risk, and costs. 5. Delivery Schedule:
6. Quality Standards and Inspection: ( - Specify the quality standards the goods must meet.) ( - Outline procedures for inspection and acceptance of the goods.)
7. Packaging and Labeling 8. Documentation: List of required documents, such as commercial invoices, packing lists, bills of lading, certificates of origin, and other relevant paperwork.
9. Force Majeure Clause: A clause addressing unforeseen circumstances that could prevent one or both parties from fulfilling their obligations (e.g., natural disasters, political events).
10. Dispute Resolution: Mechanisms for resolving disputes, including whether disputes will be settled through negotiation, mediation, arbitration, or litigation. 11. Insurance:
12. Intellectual Property Rights: Address intellectual property considerations, such as trademarks or patents related to the goods.
13. Governing Law: Specify the jurisdiction and governing law that will apply to the contract.
14. Confidentiality Clause: Include provisions related to the confidentiality of business information shared between the parties.
15. Compliance with Laws: Affirm that both parties will comply with relevant laws and regulations, including import/export regulations of the respective countries.
16. Termination Clause: Define conditions under which either party can terminate the contract.
17. Liability and Indemnity: Clarify liability for breach of contract and indemnification responsibilities.
18. Notices: Outline the procedures for giving notice and contact details for official communications.
19. Amendments: Specify the process for making amendments to the contract and the conditions under which amendments can occur. 20. Signatures:

"Deemed exports" refer to those transactions in which the goods supplied do not leave the country, and the payment for such supplies is received either in Indian Rupees or in free
foreign exchange. These transactions are deemed to be exports because they promote economic benefit and production within the country, even though the physical movement of
goods across borders may not occur. Several facilities and benefits are associated with deemed exports in India:
1. Tax Benefits: Refund of Central Taxes and Duties: Deemed exporters are eligible for a refund of certain central taxes and duties paid on the procurement of goods for deemed export
transactions under various schemes.
2. Duty Drawback: Duty Drawback Scheme: Deemed exporters can avail themselves of the duty drawback scheme, where they receive a refund of duties paid on inputs used in the
manufacturing of goods meant for deemed export.
3. Advance Authorization Scheme: Advance Authorization Scheme: Deemed exporters can benefit from the Advance Authorization Scheme, which allows duty-free import of inputs
required for the manufacturing of goods meant for deemed export.
4. Export Promotion Capital Goods (EPCG) Scheme: EPCG Scheme: Deemed exporters may avail benefits under the EPCG scheme, which allows duty-free import of capital goods for
upgrading technology, modernization, and expansion of existing export units.
5. Manufacturing Under Bond: Manufacturing Under Bond (EoU/EHTP/STP/BTP): Deemed exports may be allowed for manufacturing under bond, where units are located in Export
Processing Zones (EPZ), Export Oriented Units (EOU), Electronic Hardware Technology Parks (EHTP), or Bio-Technology Parks (BTP).
6. Customs Duty Exemption: Customs Duty Exemption: Deemed exports may qualify for customs duty exemptions or concessional rates on the import of raw materials and inputs.
7. Benefits for Specific Sectors: Sector-Specific Benefits: Certain sectors, such as electronics, textiles, and chemicals, may have specific schemes and benefits for deemed export
transactions to encourage domestic production.
8. Special Economic Zones (SEZ): SEZ Benefits: If the deemed export transactions are carried out within a Special Economic Zone (SEZ), additional benefits related to tax exemptions and
a simplified regulatory environment may be available.
9. Rebate of State Levies (RoSL): RoSL Scheme: Deemed exporters involved in the textile and garment sector may avail benefits under the RoSL scheme, which provides a rebate on
state levies.
10. Import of Restricted Items: Import of Restricted Items: In certain cases, deemed exporters may be allowed to import restricted items for their manufacturing processes without the
need for an import license.
11. Export Credit: Access to Export Credit: Deemed exporters may have access to export credit facilities to facilitate their manufacturing processes.
12. Support from Export Promotion Councils: Export Promotion Council Support: Deemed exporters may receive support and guidance from Export Promotion Councils relevant to their
industry.

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