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Export Documentation. Export documentation. Once the goods are ready the exporter has to prepare and execute various documents of different tags of sending the shipment of goods to the importer The various documents are vital to the exporter and bank which is a media of payment.
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Export documentation • Once the goods are ready the exporter has to prepare and execute various documents of different tags of sending the shipment of goods to the importer • The various documents are vital to the exporter and bank which is a media of payment
Importance of Export document • As an evidence of shipment and title of goods • For obtaining payments • Transportation of the goods • Custom clearance of the goods • And many other purposes
Export document • The documentary requirement are both regulatory and operational in nature and have to comply with the rules and regulation with the Indian government as well as the importing countries for different type of products. • These requirement are different for different type of products • Accuracy and completeness are the prime necessities in documents covering export shipments
Export document cost • Export documentation work constitutes a heavy charge in exports activity • Its costly, complex and cumbersome • Minor discrepancies of any kind either in the date itself or any typing error in the document which looks harmless might proves costly
Export document • Any alteration or addition made by an authority issuing the documents should be endorsed properly, with the signature of the person issuing the document only • If the documents are not the correct ones and not filled properly the importers may not be able to get the goods when the ship carrying them arrives
Legal Importance • Before granting the permission, the custom officer however ensures that the goods being exported are in accordance with the different regulation particularly in terms of following: • The goods are same type, sort and values as declared by the exporter • The duty or cess livable has been properly determined and paid
Aligned documentation system • The Government of India made it mandatory for every exporter to use standardized preshipment export documents w.e.f. September 1,1991 • This is properly known as aligned documentation system • The preshipment document on a standard layout was first introduced by Sweden in 1956
Paper size and specifications • All documents under the system are to be prepared on A4 size of paper • Standard margin 10mm---top 20mm----left • The size of the individual boxes should be as per the specification • Maximum tolerance is 1 mm
Specifications • The captions inside the boxes should be printed in 6 points sans serif face and should be located as near on the top left corner of the boxes as possible • Documents need to generated mechanically • Paper should be found in stable form 50-60% relative humidity
Documentation practice in India • In India, on an average about 25 documents are associated with the preshipment stages to export transaction • These documents are classified in to two categories: commercial regulatory
Important documents • Proforma invoice • Commercial invoice • Consular invoice • Packing list • Mate receipt • Bill of lading • Letter of Credit (not a export document)
Performa Invoice • The starting point of the export contract is in a form of a offer made by an exporter to the foreign customer • The offer made by an exporter is in the form of a proforma invoice • It is a quotation given as a reply to an enquiry
Importance of proforma invoice • It forms the basis of all trade transaction • It may be useful for an importer to obtain the import license or foreign exchange
Commercial Invoice • A commercial invoice is a bill for the goods from the seller to the buyer • Its an important and basic export document • These invoices are often used by the government to determine the true value of goods for duty purposes
Consular invoice • A consular invoice is a document that is required by some countries • It describes the shipment of goods and information such as importer, exporter and value of the consignment for custom purposes • Kenya, Uganda, Tanzania, Mauritius, New Zealand, Myanmar, Iraq, Australia, Fiji, Cyprus, Nigeria, Ghana, Guinea,
Packing List • Export packing list is considerably more detailed and informative then a domestic packing list • It also shows the individual net, gross weight, and measurement for each package • The list is used by the shipper or forwarding agents to determine the total shipment weight & volume and whether the correct cargo is being shipped
Bill Of lading • The bill of lading (in ocean transport), waybill or consignment note for rail, air, or road transportation and receipt in postal or courier delivery are collectively known as transport document • Bill of lading is issued by shipping company or its agent stating that goods are either being shipped or have been shipped
Significance • Bill of lading is the only evidence to file a claim against a shipping company in the event of no delivery, defective delivery or the short delivery of the cargo at the destination
