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Export contract is an agreement enforceable by law. Export business cannot be carried out orally.

There is every need to prepare a written document to regulate export business. Export contract is an important document to avoid disputes with overseas buyers When the offer made by the exporter is accepted by the importer it becomes as export contract

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Registration stage : Every export business needs various registrations without which the business is not legally recognized. Pre shipment stage : The exporter has to procure goods and get completed inspection and excise formalities. Shipment stage : The exporter has to put the goods through the customs and fulfill documentary requirements. Post shipment stage: The exporter has to take steps to realise payments from abroad.

Registration with various authorities:

1.Deceding the nature of business 2.Selection of name of the firm 3. Opening of the bank account 4. Registration with excise authorities 5. Obtaining member of chamber of commerce 6.Registration for BIN 7. Registration with sale tax authories 8.Registration with ECGC

Receipt of confirmed order: Obtaining a confirmed letter of credit: Obtaining export license if necessary: Obtaining pre shipment finance Production/procurement of good: Packing and Marketing: ECGC Cover: Marine insurance policy:

Once the good are ready for shipment, the exporter should prepare for their preshipment inspection. No export of any notified commodity can be made unless accompanied by inspection certificate issued by a recognized inspection agency. These agencies work under the administrative and technical control of the EIC. There are 60 offices of EIA in India.

SHIPPING AND CUSTOMS FORMALITIES

In consultation with the C&F agents the exporter must prepare proper shipping documents , keep ready relevant declaration, fill in the correct classification and hand over the documents to the C&F agents in time to maintain delivery schedule. 1.Reservation of space in the ship: 2.Arrangeeement of internal transport from factory warehouse to the port of shipment 3. Preparation and Processing of shipping documents

1.Submission of Documents by the agent to the exporter 2.Shipment advice to the importer. 3.Presentation of documents to the bank for negotiation. 4.Despatch of documents. 5.Documentary bill of exchange 6.Letter of Indemnity 7.Realisation of Export proceeds 8. Processing of form GR.