For Exchange Contract should clearly indicate the

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For obtaining this contract, the exporter should approach his bank along with a (i) application on plain paper for obtaining the Forward Exchange Contract and (ii) L/C and/or the Confirmed Export Order (in original).

The application for the Forward Exchange Contract should clearly indicate the definite period (not the exact date but period says between such dates to such date) in which the export documents would be submitted to the bank.

An important condition is that the L/C covering the particular export contract should not be restricted to any bank(s). It must be rather restricted to the exporter(s) Bank. In case of confirmed export order, the exporters should ask their overseas customers (importers) to open the L/Cs on their banks.

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2. Export Licenses/Quota:

In case the product to be exported is subject to the Export Trade Control, the exporter should apply for an Export Licence to the concerned Licensing Authority.

3. Central Excise Declaration:

File a declaration with the concerned Central Excise Authority, in case the export goods are subject to Excise Duty and obtain a declarant’s Code Number, in case the exporter has no Central Excise Registration.

4. Importer-Exporter Code No. (IEC):

Also obtain the Importer-Exporter Code No. from the Regional Licensing Authority concerned.

5. Sales Tax Registration:

Get registered with the Sales Tax Department and become a Registered Dealer, for obtaining goods without payment of Sales Tax from other manufacturers/ merchants.

Categories: Trade


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