In India, both imports and exports are regulated under the foreign trade act, 1992, to empower the government to make provision for the development and regulation of foreign trade. As mentioned under the regulation 6 exam, any company planning for export is required to obtain an IEC number from the DGFT. Once obtaining the IEC, the very next step for the exporter is to ensure that all the legal compliances are met under the trade laws.
Also, the exporter needs to register with the ICC - Indian Chamber of Commerce, they issue the non-preferential certificates of origin certifying that all the goods listed for exports are originated in India.
As mentioned under regulation 6 examination here are the required documents for the exporter,
=>Commercial Invoice - this is the first document that provides the details about the contents of the goods. As per the experts of Rule 6 exam the exporter needs this document to obtain an inspection certificate.
=>Bill of lading - this document is an acknowledgment that all goods are in the process of shipping or that the shipment is complete. In other words, it is a document that is evidence of the contract of transport.
=>Bill of Exchange - this addressed to the importer to make payment at a fixed or on-demand or determinable future. Read more...
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