Articles under Export Import Terms

Types or Forms of Post-shipment Finance

  Types or Forms of Post-shipment Finance: Following special schemes are available in respect of post-shipment finance: (a) Export Bills Negotiated under L/C: If the exporter has obtained documentary letter of credit and has submitted the required documents, as mentioned in the UC, to the bank, the bank negotiates them and sanctions the equivalent amount of post-shipment finance to the exporter, Post-shipment finance is released after liquidating the pre-shipment finance

Read More

Meaning of Post Shipment Finance

Meaning of Post Shipment Finance Post-shipment finance (short-term) refers to the credit extended to the exporters after the shipment of goods for meeting working capital requirement. It is given by the commercial banks after the shipment of goods and submission of commercial documents to them for negotiation or collection. Post-shipment credit (medium and long-term) is given for exports on deterred payment terms for the period of over one year.   //

Read More

Contents of bill of lading

Contents of bill of lading: (a) Name and logo of the shipping line. (b) Name and address of the shipper. (c) Name and the number of vessel. (d) Name of the port of loading. (e) Name of the port of discharge and place of delivery (f) Marks and container number. (g) Packing and container description. (h) Total number of containers and packages. (I) Description of goods in terms of quantity. (j) Container status and seal number. (k) Gross weight in kg, and

Read More

Mate Receipt

  Mate's Receipt: Mate's receipt is a receipt issued by the Commanding Officer of the ship when the cargo is loaded on the ship. It is a prima facie evidence that goods are loaded in the vessel. Mate's receipt is first handed over to the Port Trust Authorities. After making payment of all port dues, the exporter or his agent collects the mate's receipt from the Port Trust Authorities. Mate's receipt is freely transferable. It must be handed over to the shipping company in orde

Read More

Consular Invoice

Consular Invoice Consular invoice is a document required mainly by the Latin American countries, Kenya, Uganda, Tanzania, Mauritius, New Zealand, Myanmar, Iraq, Australia, Fiji, Cyprus, Nigeria, Ghana, Guinea, Zanzibar, etc. This invoice is an important document, which needs to be submitted for certification to the Embassy of the importing country concerned. The main purpose of the consular invoice is to enable the authorities of the importing country to collect accurate information a

Read More

Certificate of Origin

Certificate of Origin in International Trade A Certificate of Origin (CO) is a document which is used for certification that the products exported are wholly obtained, produced or manufactured in India. it is generally an integral part of export documents. It is required when: (a) Goods produced in a particular country are subject to preferential tariff rates in the foreign market at the time of importation. (b) The goods produced in a particular are banned for import in the for

Read More

Factors Affecting Export Payment Terms

Factors Affecting Export Payment Terms The following factors affect the payment decisions in the international market: (a) Nature of Product: In the case of perishable and consumer goods long term credit is not desirable. Therefore, the payment method should be "Documents against Payment". However, in the case of capital goods, the exporter may allow "Deferred Payment terms". (b) Creditworthiness of Buyer: It is desirable to inquire about the creditworthiness of new importe

Read More

Making Export Decisions

Making Export Decisions   Once a company determines it has exportable products, it must still consider other factors, such as: What does the company want to gain from exporting? Is exporting consistent with the other goals of the company? Does the company possess adequate key resources, viz. management, personnel, production capacity and finance? Are the expected benefits worth the costs, or would company resources be better used for developing new domestic business?

Read More

Product Liability under Export Import Business

  Product Liability   Product liability can be defined as the responsibility borne by the manufacturers, distributors and retailers for any consequential injuries/damages from the products they make or sell. If the user of the product suffers, he has the right to sue. (A) In case of Negligence on the Part of the Manufacturer: Negligence in manufacturing makes him liable. The user has to establish negligence on the part of manufacturer in designing or making the p

Read More

Transhipment - A redefinition

 The information provided here is part of Import Export online Training   Transhipment After going through many articles in different books and electronic search engines, I could not get a satisfactory explanation about the subject ‘Transhipment’ at global point of view. Most of the information about transhipment is partial used at their own practice based on their act of business or services. Let me re-define ‘Transhipment’ (transshipment) as bel

Read More

Difference between BL and MBL.

The information provided here is part of Import Export Training course online Difference between BL and MBL.   How to differentiate Bill of Lading and Master Bill of Lading? What is Bill of lading? How Master Bill of Lading differentiate from Bill of Lading. If you know about bill of lading and master bill of lading, you can differentiate both. Se let us discuss what is Bill of lading and how does bill of lading work. I am copying below, information about

Read More

How to differentiate BL and HBL?

 The information provided here is part of Export import business Course online   How to differentiate BL and HBL?     What is the Difference between BL and HBL? What is Bill of lading and how does bill of lading work?   Bill of lading is a document issued by sea carrier of goods on receipt of cargo to him from the shipper. Bill of lading is issued to shipper after completion of export customs clearance procedures at load port customs locati

Read More

Difference between AWB and HAWB - Airway bill and House Airway bill

 The information provided here is part of Guide on howtoexport and import  Difference between AWB and HAWB - Air Waybill and House Airway bill   You can also read here - Difference between HAWB and MAWB   This article is a part of series of replies on questions asked by beginners of international trade relates to basics of export and import. How Air Waybill works? How does HAWB differs from AWB. AWB Vs HAWB In general terms, AWB and HAWB

Read More

Difference between Airway bill and Master Airway Bill

 The information provided here is part of Import Export course online Difference between Airway bill and Master Airway Bill   Difference between AWB and MAWB This article is a part of series of replies on questions asked by beginners (among beginners) relates to basics of export and import trade. As I have explained, please accept my apology on my inability to reply individually for all questions. However, I treat each question of you is valuable. You can certa

Read More

Difference between Airway Bill and Bill of Lading.

 The information provided here is part of Export Import Online Tutorial   Difference between Airway Bill and Bill of Lading.   After introduction of this website, I have been receiving many enquiries and clarifications on different subjects on daily basis. Please accept my apology on my inability to reply individually for all questions. However, I treat each question of you a valuable one. You can certainly expect reply on all of your questions in this website as a

Read More

Difference between NVOCC and Freight Forwarder

 The information provided here is part of Export Import Training online     Difference between NVOCC and Freight Forwarder   Is there any difference between a freight forwarder and NVOCC? Who is a freight forwarder? How NVOCC works? How NVOCC differs from a freight forwarder. This is a common question in international trade.   In this article let us discuss about the difference between a freight forwarder and adn NVOCC. The definition a

Read More

Any difference between Wire Transfer and Telegraphic Transfer?

 The information provided here is part of Export Import Training course online How to differentiate Wire Transfer and Telegraphic Transfer? What is the difference between a Telegraphic Transfer and a wire transfer? Is wire transfer and TT transfer are one of the same? How to differentiate Telegraphic Transfer and wire transfer. Let us find our what is Wire Transfer and What is Telegraphic Transfer.  We have already discussed about wire transfer and how does

Read More

Difference between Telegraphic Transfer and Swift

 The information provided here is part of Online Training Course on howtoexportimport Difference between ‘Telegraphic Transfer’ and ‘Swift’ This is another common question among traders about swift and TT (Telegraphic Transfer). What is the meaning of Telegraphic Transfer, How does swift work? Whether swift and TT are same? Before differentiating Swift and Telegraphic Transfer, let us find out What is swift and what is TT? I have writte

Read More

Difference between Swift and wire transfer

The information provided here is part of Online export import business guide course. Difference between Swift and wire transfer // This is a common question among traders about swift and wire transfer. What is the meaning of wire transfer, How does swift work? Whether swift and wire transfer are same? Before differentiating Swift and wire transfer let us find out What is swift and what is wire transfer? What is Swift ? How SWIFT works?  

Read More

How does TT (Telegraphic Transfer) work?

  The information provided here is part of Online export import training guide  How does TT (Telegraphic Transfer) work?   What is a Telegraphic Transfer TT? Telegraphic Transfer is a mode of transfer of funds electronically before the year 1990s. TT, Telegraphic Transfer of money was effected by a cable message service from one bank to another to transfer money. Before introduction of Telegraphic Transfer, money had been transferred directl

Read More

What is swift transfer in import and export trade.

  The information provided here is part of Online Export Import course    Swift transfer in import and export trade.     What is SWIFT payment? How does SWIFT payment work?   The elaboration of SWIFT is Society for Worldwide Interbank Financial Telecommunication   Society for Worldwide Interbank Financial Telecommunication is abbreviated as SWIFT. SWIFT extends service of network which enables banks and other financial orga

Read More

Difference between vessel name and voyage number

  Difference between vessel name and voyage number   Vessel name and Voyage number     We have already discussed about difference between mother vessel and feeder vessel in this web blog. Let us discuss about vessel name vs voyage number.   Vessel name with voyage number are mentioned in Bill of lading of each shipment issued by carrier of goods. Some of you may need clarification on voyage number mentioned in Bill of lading and other

Read More

Difference between EGM and IGM

The information provided here is part of Import Export online Training Difference between EGM and IGM   What is the difference between IGM and EGM. How to differ Export General Manifest (EGM) with Import General Manifest (IGM). What is Export General Manifest EGM and what is Import General Manifest IGM. Export General Manifest (EGM) EGM in export trade means Export General Manifest. This is the document which has to be filed with customs department by shipp

Read More

Difference between EGM and shipping bill

 The information provided here is part of Import Export Training course online   //   Difference between EGM and shipping bill   What is EGM? How does EGM work?   What is shipping bill? Explain the mechanism of shipping bill process.  What are the difference between Export General Manifest and Shipping Bill?   EGM means export general manifest which has to be filed by shipping carrier of goods, once af

Read More

Difference between let export date and shipment date.

 The information provided here is part of Export import business Course online     Shipment Date and Bill of Lading date.   Difference between Let Export Date/ Shipment Date and Bill of Lading date.   In this article, I would like to explain the difference between shipment date and bill of lading date and Let export order date.   How to differentiate between Let export order date, Bill of Lading date and Shipment Date?  

Read More

Difference between export bill collection and export bill discounting.

 The information provided here is part of Guide on howtoexport and import  Difference between export bill collection and export bill discounting.   After reading below article, you can also read  Negotiation procedures and formalities of export bills In simple terms, export bill collection means sending of export bills to overseas buyer through his bank to collect payment under export bills. Where in export bill discounting, the exporter get amount

Read More

Difference between bill discounting and bill negotiation

 The information provided here is part of Import Export course online Difference between bill discounting and bill negotiation.   Export Bill Discounting and Export Bill Negotiation   How to distinguish export bill discounting and export bill negotiation. Are export bill negotiation and export bill discounting same? If not, what is the difference between Export Bill Negotiation and Export Bill Discounting? In simple terms, export bill discounting

Read More

Rummaging

 The information provided here is part of Export Import Online Tutorial   Rummaging in Imports   What is Rummaging? How does Rummaging work? Is Rummaging done in all vessels arrival? Who is the authority for Rummaging?.   Once after arrival of cargo at a customs location, the necessary details of arrival of goods have to be filed with customs station which is known as Import General Manifest. IGM is filed in a specified format legally to be followe

Read More

What is Nominated cargo or Routing order shipment

 The information provided here is part of Export Import Training online Nominated cargo or Routing order shipment   What do Nominated Cargo /routing order mean? Who decides shipping line in a Nominated Shipment? Can a shipper arrange shipping line in a Routing order shipment? What are the circumstances where in buyer appoints a carrier in imports and export trade?   In an export import trade, if the terms of delivery are on ex-works basis, the ca

Read More

Is Seaway bill a document of title? What is Seaway bill.

 The information provided here is part of Online Training Course on howtoexportimport   Is Seaway bill a document of title? What is Seaway bill?   Bill of Lading and Sea way bill are two terms in shipping under imports and exports. What is Seaway Bill? How does bill of Lading work? Is Sea Way bill a document of Title?   Seaway bill is an evidencing document of contract of carriage and the carrier’s receipt of the goods. A bill of lading functions

Read More

Difference between HS code and ITC code

 The information provided here is part of Online export import business guide course   Click here to know  HSN Code     Click here to know 6 digit HS code of your product Difference between HS number and ITC number   //     What is the difference between Harmonized System code and Indian Tariff Code?   Are HS code and ITC code same?   Most of us in the trade belie

Read More

Difference between Bank Release Order and Bank Delivery Order

 The information provided here is part of Online export import training guide    Any Difference between Bank Release Order and Bank Delivery Order?   Are there any difference between Bank release order (BRO) and Bank delivery order? What is Bank Release order / Bank Delivery Order?   The terms Bank release order and Bank Delivery Order are same in business. Bank release order/Bank Deliver order is issued by bank to release goods to t

Read More

BL charges

 The information provided here is part of Online Export Import course      BL charges in release of Bill of Lading   What is Bill of Lading Charges? Are there any standard charges on BL?   Bill of Lading Charges is nothing but documentation charges of shipping carriers to shipper when releasing Bill of Lading.   After completion of necessary legal export customs clearance, the cargo is handed over to carrier by shipper. Once aft

Read More

What is Late BL release charges

 The information provided here is part of Import Export Training online Why ‘Late BL release charges’?   Late BL release charges – An account head of carrier of goods in an export trade. What is this late Bill of Lading releases Charges? Why do carrier charge an additional amount on late release of Bill of Lading?   The carrier releases bill of lading to shipper, once after handing over cargo to him after completion of necessary legal

Read More

What is co-loading

 The information provided here is part of Import Export online Training   What is co-loading? Co loading is a term used in export and import trade especially in the area of freight forwarding. What is co loading? How does Co loading work? Is there any advantage in Co loading? What are the demerits in Co loading?   The term co loading means transferring cargo by a freight forwarder to another carrier either to a freight forwarder or consolidator. Co load

Read More

Consol DO and liner DO

  The information provided here is part of Import Export Training course online   Consol DO and liner DO   What is called Console Delivery Order? How console Delivery Order differs from main carrier Delivery Order? Do Consol DO and Liner DO function same?     What is consol delivery order and what is liner deliver order. What is the difference between consol DO and liner DO.   // If a cargo is

Read More

Difference between IGM number and line number

  The information provided here is part of Export import business Course online Difference between IGM number and line number in Imports   What is IGM number in Imports? What is Line number in IGM? What is the difference between IGM and Line Number in Imports?   What is IGM?   IGM means, Import General Manifest.   Let us discuss about Import General Manifest. Once after arrival of cargo at a destination customs locati

Read More

What is Line number in IGM

  What is Line number in IGM   Most of you in import trade would have heard or experienced about Line number in Import General Manifest. What is Line number in IGM?   Once after arrival of goods at a customs location, the carrier of goods files an IGM with customs in a specified format. This detail contains the details of arrival of goods with name of shipper, consignee, number of packages, kind of packages, AWB/BL number, description of goods etc.etc.

Read More

Difference between Shut out and Re-import

 The information provided here is part of Import Export course online   This is a  common question in an international trade. How to distinguish between Shut out cargo and re-import cargo.   Let us find the term ‘Shut out’ and ‘re-import’.   What is ‘re-import’? If any goods of a country is exported to another country and thereafter importing  back the same goods, such goods are fallen under re imports. Fo

Read More

Difference between imports and re imports

The information provided here is part of Export Import Online Tutorial   What does the term Imports mean? What is Re Imports?   How to differentiate between re Imports and Imports?   What does Imports mean?   In a simple language, Imports mean movement of goods to a country from another country. I have written a detailed article and redefined exports and imports in this website. You can go through the same to have a good idea of the

Read More

The term LCL. What does LCL mean?

  The information provided here is part of Export Import Training online LCL is a simple term used in export import business.   What is LCL and how does LCL work in import export trade?   LCL means Less Container Load   If a shipper does not have enough goods to accommodate in a fully loaded container, he arrange with a consolidator to book his cargo. This type of shipment is called LCL shipment. The said consolidator arranges a f

Read More

What is Dry Port

 The information provided here is part of Export Import Training course online   //   What is a Dry port / CFS in export import trade?     As we know, sea port is situated near sea. If the importer or exporter is far away from sea port, it will be an inconvenience to co-ordinate and handle the goods properly. So government has allowed CFS (container freight station) to handle export and import formalities under customs supervi

Read More

Custodian of Cargo at customs bonded CFS

 The information provided here is part of Online Training Course on howtoexportimport   Who is called Custodian of Cargo?     Afterarrival of cargo at port of destination,  it is moved to customs bonded area.  The custodian of goods at destination customs location could be owned by a private party or parties, semi government firms or fully owned by government.   However, customs bonded area is functioned with a memorandum of unde

Read More

Difference between shut out cargo and short shipment cargo

 The information provided here is part of Online export import business guide course   //   Difference between shut out cargo and short shipment cargo   How to differentiate short shipment between shut out?   Shut out and short shipment are the two terms used in Export customs clearance formalities and procedures in India.   What is shut out Cargo? How does short shipment cargo work? How to differentiate betwee

Read More

EGM (Export General Manifest)

 The information provided here is part of Online export import training guide    EGM (Export General Manifest)   Export General Manifest – EGM. How important EGM in Import?   Who files Export General Manifest? Why does Export General Manifest need to be filed? Is mandatory to file Export General Manifest? When to file Export General Manifest? Where to file EGM?   Who does file Export General Manifest – EGM?   Exp

Read More

Know the term Port of Discharge and Place of Delivery

The information provided here is part of Online Export Import course  // Know the term Port of Discharge and Place of Delivery   Difference between Port of Discharge and Place of Delivery. These terms are generally mentioned in sale contract of exporter and importer, shipping company who carries goods, and other related to shipping and freight forwarding. Let us learn these terms with simple example. Your ov

Read More

Stuffing and De stuffing 2 regular terms used in shipping

 The information provided here is part of Import Export Training online   What is stuffing and de-stuffing in export import trade     Stuffing means ‘loading’ goods in to container or any other mode for export. Once after moving cargo to Container freight station or load port, the cargo will be unloaded in warehouse. Once after completion of customs clearance procedures, the carrier loads the cargo to the container to move final destinatio

Read More

Short shipment in Export business

 The information provided here is part of Import Export online Training     Short shipment in Export business   What is short shipment in Export and Import Trade? How does short shipment work? What does short shipment mean?   “Short shipment of goods” means, quantity and value of goods actually exported, lesser than the declared in export shipping documents.   One of the examples of short shipment can be explained below:

Read More

What is Shut out in export trade

 The information provided here is part of Import Export Training course online   //   Shut Out – Some facts in international trade.    Have you heard of this term ‘Shut Out’ in Export Import Trade? What is Shut Out in International trade? How does Shut Out work in international trade of exports and imports?   What is Shut Out?   “Shut Out in international business” means,

Read More

What is Black list certificate from Shipping Line

 The information provided here is part of Export import business Course online     What is Black list certificate from Shipping Line   Have you heard about Black list certificate earlier?   I hope some of you in the field of export and import trade may not know about Black list certificate. I learned about Black list certificate only after a couple of years of my career in International Trade. When I was going through a Letter of Credit before

Read More

What is legalization of documents by embassy?

   The information provided here is part of Guide on howtoexport and import  Embassy legalization of export documents   What is legalization of export documents? Who does certify export documents legally?   If you are an exporter, you would have experienced about legalization of export documents, as one of the terms mentioned in Purchase Order or Letter of Credit. What does this legalization of export documents mean? Where to apply for such

Read More

Difference between SOFTEX and GR forms

  The information provided here is part of Import Export course online //   Difference between GR and SOFTEX forms   GR forms and SOFTEX forms are used by Reserve bank to monitor inward and outward remittance of a country on foreign exchange earnings. However, how differs SOFTEX form with GR forms.   What is GR form and how does it work?   GR.forms are issued by Reserved Bank of India to regulate and monitor foreign exch

Read More