Presentation of Documents for Negotiation after exports

Presentation of Documents for Negotiation after exports

 

Presentation of Documents for Negotiation after exportsAfter shipment of goods, exporter has to negotiate the documents through a bank within a period of 21 days from the date of shipment. Submission of relevant documents to the bank and the process of obtaining payment is called "Negotiation of Documents". Documents which are submitted, in this context, to the bank are called "Negotiable set of Documents" which normally contains:

Bill of Exchange, Sight Draft or Usance Draft. • Full set of Bill of Lading or Airway Bill. • Customs Invoice. # • Commercial invoice including one copy duly certified by customs. • Packing List. • Original Letter of Credit. • Certificate of Origin. • Exchange control copy of the Shipping Bill. • Marine Insurance Policy, in duplicate.

When the documents are presented under Letter of Credit, Negotiating Rank makes the payment immediately. In the absence of letter of credit, exporter's bank may purchase the documents and provide funds immediately or send for collection and on realization gives credit for the amount collected, after deducting commission.

 

Registration procedures and formalities to obtain GSTIN

How many digits in GSTIN under Goods and Service Tax registration

Would multiple registration be allowed under Goods and Service Tax (GSTIN)?

Procedure for obtaining Registration number of GSTIN

Procedures to get GST Registration number for IT exempted proprietorship firms.

Process of application for registration under GST Act to obtain GSTIN

Different application Forms for registration under Goods and Service Tax Act (GSTIN)

Application for registration under GST Act to obtain GSTIN

GST registration and returns filing procedures for PSUs and Government entities

Re-registration of GST, Goods and Service Tax.

Levy of late fee for GST Tax returns filing in India 

Notice to GST return filing defaulters 

When to file Annual Return of GST online?

Procedures to claim reduction in output tax liability of GST in India 

Procedures to claim Input Tax Credit under GST in India 

When to file first Return of GST tax in India? 

GST Tax returns filing – Who, How and When? 

How is time of supply accounted under GST Tax Calculation 

Valuation of GST under special cases

What is VACIS exam in US import customs clearance

When can an exporter release bill of lading from shipping company?

When does exporter get EP copy of shipping bill after customs clearance

Procedure for Central Excise Clearance Under Claim of Rebate

Customs procedures for Costa Rica Export

Registration required to export from Costa Rica

Import Customs processes in Costa Rica

Import Registration and import Licence procedures in Costa Rica

How to export from Bolivia?

How to Import to Bolivia?

How to import to India from Bolivia?

 

Click here to know GST rate on Goods and Services

GST Exemption list of goods and services

Find HSN number or Service tariff code for GST

GST registration guidelines

Indian GST Laws

How to export your goods?


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers