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Import Export

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Import-Export Process and Documentation
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To take part in international business or import-export business, there are aspects that as a
strong entrepreneur you must understand well. The aspects that you need to understand include
the process of import-export as well as the necessary documentation needed. However, there
may be slight differences in documentation from one country to another; there are other common
documents that one must have.
The first step in import-export business is the acquisition of Import-export code which is
sometimes referred to as IE code. This is obtained in most countries from the Department of
foreign exchange. Alternatively, the IE is obtained after the business has accessed PAN and has
created a bank account. The next step is the acquisition of commercial invoice. This is the
document that contains the terms of the transaction such as date of the transaction and the seller’s
details among other shipping details. It is important to note that there is a customs duty levied on
the shipment. Essentially, there is the Air Waybills which is a proof of the good shipment by air.
It is always attached to the certificate of insurance. It contains the details of the person uncharged
of shipment, departure time, destination, good description and details of the shopper for example
sign and seal of the carrier. The other document is the bill of lading which is the document given
to the shipping agency as a sign of goods they ship. This as well contains the details of the
shipper and other details of identification of the good. Other documents include the bill of
exchange, certificate of origin, packing list, and letter of credit.

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Import-Export Process and Documentation Student’s Name University Affiliations To take part in international business or import-export business, there are aspects that as a strong entrepreneur you must understand well. The aspects that you need to understand include the process of import-export as well as the necessary documentation needed. However, there may be slight differences in documentation from one country to another; there are other common documents that one must have. The first step in import-export business is the acquisition of Import-export code which is sometimes referred to as ...
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