Documents and Banking in Export-Import
Simplifying the Essentials for Success
Why Documents and Banking are Vital in Export-Import
Accurate documentation and proper banking processes are the backbone of a smooth export-import business. From securing payments to clearing customs, managing the right paperwork and banking requirements can make or break your success. At Bengal Institute of Foreign Trade, we teach you all the critical details in simple Bengali, empowering you to manage these aspects with confidence.
What You’ll Learn About Documentations
Understand the key documents required at every stage of the trade process:
- Commercial Invoice: A detailed bill of the goods being shipped.
- Packing List: Specifies the contents of the shipment for buyers and customs.
- Bill of Lading (B/L): A receipt issued by the shipping company confirming cargo details.
- Certificate of Origin: Verifies the origin of your goods.
- Customs Declaration: Required for clearance at international borders.
What You’ll Learn About Documentations
Learn the documents necessary for ensuring secure and timely payments:
- Letter of Credit (LC): How to prepare and use this essential document.
- Bank Realization Certificate (BRC): Documenting foreign currency payments.
- Proforma Invoice: The initial agreement outlining the terms of trade.
What You’ll Learn About Documentations
Stay compliant with local and international trade regulations:
- Import-Export Code (IEC): How to apply and use this mandatory license.
- GST and Tax Filings: Ensure proper tax documentation for seamless transactions.
What You’ll Learn About Documentations
- How to double-check your paperwork to avoid costly errors.
- Common mistakes exporters make and how to avoid them.
What You’ll Learn About Banking in Export-Import
- How to open and manage an export-import bank account.
- Choosing the right bank for international transactions.
What You’ll Learn About Banking in Export-Import
- Understanding payment methods like Advance Payment, Open Account, and Document Against Payment (DAP).
- How to reduce risks with export credit insurance.
What You’ll Learn About Banking in Export-Import
- SWIFT Codes: What they are and how they work in global payments.
- Managing foreign exchange rates effectively.
- Dealing with bank charges and transaction fees.
What You’ll Learn About Banking in Export-Import
- Accessing pre-shipment and post-shipment financing.
- Using bank guarantees to secure deals with buyers and suppliers.