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The Zero Duty Export Promotion Capital Goods (EPCG) Scheme allows Indian exporters to import capital goods at zero customs duty, provided they commit to export an amount equivalent to 6 times the duties, taxes, and cess saved on capital goods, to be fulfilled within 6 years from availing of the benefits under this scheme. This scheme helps businesses modernize production facilities, reduce costs, and enhance export competitiveness.
An Advance Customs Manifest (ACM) is a document submitted to customs authorities before a shipment arrives at the port of entry. It includes detailed information about the cargo, shipper, consignee, and transportation route and allows customs to pre-screen shipments, ensuring compliance. The Advance Customs Manifest must be submitted at least
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An Advanced Shipping Notice (ASN) is an electronic notification sent by a supplier to a buyer, detailing the contents and shipment information of a forthcoming delivery. It typically includes information such as the shipment date, carrier, tracking number, and item details. ASNs helps in: * Streamlining the receiving process, * Improving inventory
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An Air Waybill (AWB) is a document issued by an airline or its agent, serving as a contract of carriage between the shipper and the carrier for goods shipped by air. It provides detailed information about the shipment, including the consignor, consignee, description of goods, and flight details and allow
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Anti-Boycott Compliance refers to adhering to U.S. laws that prohibit companies from participating in foreign boycotts not sanctioned by the U.S. government. This includes refusing to do business with blacklisted countries or complying with boycott-related requests in contracts and documents. Violations can lead to significant penalties and loss
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A Back-to-Back Letter of Credit is a financial arrangement involving two letters of credit to facilitate international trade. The first letter of credit is issued in favor of an intermediary, who uses it as collateral to obtain a second letter of credit for the actual supplier. This structure enables intermediaries
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A Bank Draft is a payment instrument issued by an issuing bank on behalf of a payer, guaranteeing payment to the payee. Drawn from the bank’s own funds, it provides security that the draft will be honored upon presentation. Commonly used in international trade transactions, it is also known
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