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A packing list is mandated by foreign trade policy - section 2.06 (a), under which a detailed document is to be provided by the shipper that itemizes the contents of a shipment. It includes information such as the description of items, quantities, weights, dimensions, and packaging details. The packing list helps customs authorities, carriers, and recipients verify the contents of the shipment and facilitate smooth clearance and delivery.
Payment terms DA (Documents against acceptance) and DP (Documents against payment) are methods used in international trade. DA allows the importer to receive shipping documents and goods upon accepting a time draft, agreeing to pay later. DP requires the importer to pay the invoice amount to obtain the shipping documents
Learn morePeriodic settlement refers to the regular reconciliation and payment of outstanding balances between trading partners. Instead of settling each transaction individually, parties agree to a fixed period (e.g., monthly or quarterly) to review and settle all transactions within that period. This approach streamlines financial management and reduces administrative burden.
Learn morePre-shipment credit is a short-term loan provided to exporters to finance the procurement, processing, and packing of goods before shipment. This type of credit helps exporters prepare goods for export without facing cash flow issues. It is typically granted against export orders or letters of credit and is repaid once
Learn moreThe rebate of state levies (RoSL) scheme aims to rebate all state-level taxes and levies on export goods, particularly in the textiles sector. By reimbursing these costs, the scheme ensures that exported products are competitive in the international market, thus promoting Indian exports by reducing the overall cost burden on
Learn moreA red clause letter of credit is a type of letter of credit that allows the beneficiary to receive an advance payment, typically against a receipt, before shipping the goods. This advance helps the exporter finance the production or purchase of goods, providing liquidity and facilitating smoother international trade transactions,
Learn moreRisk retention involves a business or individual keeping or absorbing the financial impact of certain risks rather than transferring them to an insurer or third party. This strategy is often used when the cost of insuring the risk is higher than the potential loss, or when the risks are considered
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