Want to learn how Import-Export business work.

 Top 4 Safest Payment term in export -ExportPillars. In today's booming international business world everyone want to do it. But majority people frustrate about payments in Import and export business. Because, we hear everyday in International business people loss their money. They loss the money because they don't know about payment term in export and import business. In International business you may don't know about your buyer and also don't aware about their financial situation. So, how can you do trust on them.  Payment terms is main part of any local or International business. If you follow the terms of payment in International business there are majority chance to you get your payment easily without facing any problem. So, now you excided to know what are the four methods of payment for the international transaction?  So, lets we discuss the payment term in export and import business. Advance payment This Advance Payment term in export is also known as a Telegrap...

What are major changes in Incoterms 2020? In simple words, Incoterms are terms for Buyer and seller of goods, which is both are agreed during International transactions. latest Incoterms 2020 is publish on September 2019 and officially come on effects on 1st January 2020 .This terms are accepted by all the governments and legal authorities around the world. The Incoterms are published by the   International chamber of commerce(ICC)   Latest Incoterms 2020 in provide  proper  guidance for them who do business related to Import and Export on daily basis.  Below Image provide guide for which Incoterms in where to transfer Risk of Exporter to Importer.  Overview of latest Incoterms 2020  EXW  In this term seller is only responsible for making the goods available at the seller's premises. The buyer bears the fully risk from there to the destination. In this case, seller mostly preferred full payment in advance from buyer This term m...

 What is Re-export trade : Process of Re-export Goods. We we all know about Export and Import. But many few know about Re-Export and benefits of it. So, let's we know what is Re-Export and how it different from Export. Re-Export meaning  Re-Export is process in which Importer can import products and their country and do some processing or not on products. Then they Export it on different country from their country port. You can easily understand process from picture. First Importer import products in their country port and then keep products in Bounded Warehouses and do whatever process like packaging and then directly from their port they export it in any other country. For, Re-export mainly refer to Duty-free ports. At enter port do not have to pay any Import and Export duties. If your goods cross the Custom Border then you should pay duty. Let's take one example for easy understanding. Indian importers import goods from Thailand and then keep it in Bunded warehouse and do w...

Custom House Agent(CHA) - Duties of CHA Custom House Agent required for Importer and Exporter for them custom clearance activity. If you are in Import and Export business. I know you appoint your Custom House Agent for your custom clearance. CHA  is licensed to act behalf of you for Import and Export clearance and full fill the procedure and formalities. Custom House Agent charge normal charge as custom commissioner define. And this charge is negotiable. Here are the question is it's mandatory to appoint CHA for our company? No, it's not mandatory to appoint it. You can also do your own custom clearance procedure. But CHA has a knowledge of it and they know how to pass the custom easily and also they know which documents is required. However, Some companies hire their own CHA for make process fast. But, some companies doing self-clearance which have proper clearance knowledge and transparency between custom authority and firm.  Duties of Custom House Agent(CHA) ...

 India's share in world trade - Statistics of India's International trade India Exports different 7500 types of products over the 190 countries And 6000 types of products import from different 140 countries. because of that India's total share in International market is very huge. In 2019 India is the 18th largest Exporter country. Total Amount of Export is $ 530,706 Million. Which is 1.90% of world's total Exports. Let's see the India's import and Exports total share in world trade: Total Exports from India India approximately Exports 7500 different products to different 190 countries. Here is the table shows the recent India foreign Export data (in billion $)       According to data we see that gradually year by year India increase the Export worldwide. So, this is the best opportunity for you to start now. Basically, governments gives all benefits regarding International trade to only exporters.   Total Import by India  India imports around 600...

How to Apply IEC code in India - Step by step process for IEC code 2021  IEC code is 10-digit code for Importer or Exporter. which provide by the regional office of Director general of foreign trade(DGFT). IEC code full form is IMPORT EXPORT CODE. Import Export code issued once on each firm against single PAN number. IEC is only document which through your company can get every government advantages regarding International trade. If you want to know in detail which documents required for IEC code and How to apply for IEC code online then read below article carefully. Documents for proprietorship firm/company:- Rental/Lease Agreement (In case office is rented/Leased) or latest electricity/telephone bill. Cancelled cheque   with pre-printed name of applicant's company and A/c No.   Documents for Partnership firm/company:- Copy of PAN card of the applicant entity. Copy of Partnership deed. Rental/Lease Agreement (In case office is rented/Leased) or latest electricity/tele...