Prepare a Business Plan
Select a name for organization
Registration under Company Act
Open a bank account
Product selection for Export
Market Research
Product Evaluation
Registration with Director General of Foreign Trade to get IEC number
Registration with the relevant export promotion council Market Identification
Registration with Sales Tax Office
Registration with Export Credit Guarantee Corporation
Registration with relevant Chamber of Commerce to get certificate of origin
Need Analysis
Channel Selection
Agents/Distributors/ Wholesalers/ End User s/ Sales Reps
Identifying the Potential Buyers / Customers
Trade Fairs/Internet/ Personal Visits/Contacts/Agents
Going for procuring orders
Agreeing upon pricing, document ,freight charges, currency ,delivery etc
Signing of contract
Determining the payment terms
Advance Payment/ Letter of Credit (LC) / Open Account Consignment
Importer sends purchase order
Production
Packaging, warehousing
Certificate of quality control
Bank sends docs to importer’s bank .payment is done
Submission of docs to banks
Transportation Maritime / Air / Road / Rail
Insurance certificate, shipping bill, Mate’s Receipt, Bills of lading, Airway bill, Packing list , customs invoice etc
Prepare marine, air, and docs
STEPS INVOLVED IN EXPORT TRANSACTION: Step 1
In the case of first time exporters –importers ,they need to apply to the Director General of Foreign Trade (DGFT) regional office for getting Importer-Exporter Code (IEC) Number.
Step 2
The exporter has to register with the concerned export promotion council in order to obtain various permissible benefits given by the government. ,they need to get registered with sales tax office, and even Export Credit Guarantee Corporation.
Step 3
The exporter can now go in for procuring orders, by first sending a sample, if required. The importer sends a purchase order once both exporter and importer have agreed upon the terms and conditions