Export Procedure

Choose Your Company Name - First, select the name of the company or firm
whose end Global, Exim, Overseas, Exports, International, Impex etc. so Foreign
Buyers should know easily it’s import and export company. Then we will find that
we have to choose which name is available or not at Trademark Registrar. For
Trademark Search Visit :-
https://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx
http://ipindiaonline.gov.in/tmrpublicsearch/classfication_goods_service.htm

Choose Your Business Type - Manufacturer Exporter - "Manufacturer Exporter"

means a person who manufactures goods and exports or intends to export such
goods.
Merchant Exporter - "Merchant Exporter" means a person engaged in trading
activity and exporting or intending to export goods. Merchant Exporter taking the
goods from manufacturer and doing Export.

Select a Firm (Type of Company/firm)

 Proprietor Ship Firm
 Partnership Firm
 Private Limited Company
 Public Limited Company
 Government Undertaking Company

Location of Firm/Company/Office
Register office of firm/company should be owner’s property. If owner don’t
have his own name property so create a rent agreement at notary public between
the owner and the tenant. In agreement the firm’s name most compulsory.

Certificate of Registration (TIN No.)

Certificate of Registration of the firm at Registrar of Firm. Go to your C.A. and
say for this registration like proprietorship or partnership. Carry along with all KYC
(Know Your Customer) documents like Adhaar Card, Voter Id, Pan card (Company
pan card in case of partnership otherwise individual pan) with rent agreement
copy. 2 witness which is already taken TIN no.

PAN Card
Proprietor Ship Firm – Only Individual/Person/Owner/Proprietor PAN
Partnership Firm – Apply Firm’s Name PAN at income tax department.
 Partnership Firm – Partnership Deed Agreement
Among whom at least 2 are partners in a partnership agreement which would
limit the life of the partnership, profit loss, capital, etc. are written with notary.

Current Account opening

With Company or Firm name You are doing Foreign business so have to open
EEFC current account. So, can make/receive payment in dollers $. Academy will
advise you to prefer banks – HDFC, ICICI, AXIS, Kotak Mahindra Bank etc..

Export Import Business Website

Create a export import business website with full featured & attractive designing
& development.
For example – www.rkexport.co.in
Domain end should be .com, if .com is not available than any other which is
available.

What is Export Cycle ?

Pre-Shipment Activity
 Issuance IEC (Importer Exporter Code) Foreign Trade License from DGFT.
 Select Product
 Select Market
 Identifying potential buyers / Generating Enquiry from B2B/B2C.
 Sending quotation / sampling / Negotiation with buyers.
 Sending Proforma Invoice by E-m@il.
 Decide Payment terms with buyer
 Commercial Invoice / Sales Contract
 Get advance payment / letter of credit / DP/ DA (don’t forget ECGC Policy)
 Production and Packing of product
 Excise Clearance.
 Arrangement local transport from factory to Port / ICD / CFS
 Custom clearance of cargo at Port / ICD / CFS by custom officer present.
 Arranging shipping lines / Air Lines.

Post-Shipment Activity
 Issuance Transport Documentation.
 Airway bill – by Air / Bill of Lading – by Sea / LR – Lorry Receipt – By Road
 Prepairing Bank Documentation.
 Payment formalities with Bank.
 Claiming Government Benefits.
 What is Import Cycle ?
 Select a profitable product
 Get rates from domestic market & compare with foreign market.
 Identification of Importing country suppliers
 Quotation / Sampling / Negotiation with suppliers
 Contracting with suppliers
 Done payment formalities
 Onsite / Third party inspection
 Shipment follow up with suppliers
 Release documents from bank
 Give import documents to CHA for filling Bill of Entry
 Import custom clearance
 Payment of import duty (Now pay online)
 Releasing cargo (Get Delivery Order) / containers from shipping lines / Air Lines
 Arrangement local transportation

Export Documentation
1. Proforma Invoice
2. Sales Contract / Commercial Invoice
3. Packing List
4. IEC License Copy
5. SDF
6. Certificate of Origin
7. Export Value Declaration
8. Bill of Lading
9. Inspection Certificate
10.Insurance Certificate
11.Product testing certificate
12.Health Certificate (Human Consumption)
13.Phytosanitary Certificate (Plant & plantation material)
14.Fumigation Certificate (Solid wood packing material. It is mainly required by
US, Canada, Australia, New-Zealand, UK’s Customs)
15. Mate receipt (By Shipping line Captain that the cargo/container loaded on ship)
16. Bill of Exchange
 Import Documentation
1. Commercial Invoice
2. Packing List
3. Bill of Entry
4. Bill of Lading
5. Certificate of Origin
6. Insurance Certificate
7. Product testing certificate
8. Health Certificate (Human Consumption)
9. Phytosanitary Certificate (Plant & plantation material)
10.Fumigation Certificate

Export Pricing
Terms Description Who will give rates
Ex-Works Cost of Product Manufacturer
Packing Charges Manufacturer
Add Profit and send quotation to buyer
FOB Ex-works Manufacturer
Add Profit Exporter
Truck Loading charges (Labour) Know Exporter
Local Transportation (from factory to Transport Company
port/cfs/icd)
Unloading charges (Labour) CHA
Total Custom Clearance charges CHA
THC CHA
CIF FOB E./CHA/FF/T.C./Mf/Ins.
insurance Insurance Company
Freight charges Freight Forwarder
/CHA
Export Pricing Calculator
www.santandertrade.com
https://en.portal.santandertrade.com/international-shipments/export-price-calculator
Parties involved in the documentation of exports in India
Importer (Buyer) and Exporters (Seller)
VAT and Excise Authorities (Local Bodies)
Buying agents (Indenting Agent or Mediator)
Buyer’s bank (Foreign bank)
RBI – Reserve Bank of India
Authorized dealers (where the Exporter has his Bank Account)
DGFT – Director General of Foreign Trade
Customs and Port Authorities
Insurance Companies
EPC – Export Promotion Councils
Inspection Agencies
Clearing and Forwarding Agents (CHA / Freight Forwarder)
Shipping Companies/Airlines and Inland Carriers
 Documents Prepared in Prepared By / Made By

Importer Exporter Code Issued by “DGFT”

MS-Word / Excel
(Import Import License)
Introduction with Buyer MS-Word / Excel Exporter

Only Email Exporter

Embassy Letter
(Attachment not Allowed)

MS-Word Exporter
Quotation

MS-Word / Excel Exporter

Invoice for Sampling

MS-Word / Excel Exporter

Negotiation by quantity
Proforma Invoice / Sales Exporter
MS-Word / Excel
Contract
MS-Word / Excel Exporter
Packing List
Standard Format in PDF Exporter
SDF
www.cbec.gov.in
Standard Format by FIEO, FIEO, Chamber of
Chamber of Commerce, Commerce,
Certificate of Origin
Export Inspection Council Export Inspection Council

Standard Format in PDF Exporter

Export Value Declaration
www.cbec.gov.in
Standard format of Insurance Company
Certificate of Insurance Insurance company

Standard format of Inspection Agency

Certificate of Inspection Inspection agency

Invoice & Packing List Exporter / CHA /

Shipping Bill
details Filled in Custom House
(in case of Export)
www.icegate.gov.in
Issued by Captain of Ship Captain of Ship
Mate’s Receipt
Standard Format of Shipping Line
Bill of Lading (B/L)
Shipping Line
Invoice & Packing List, Bill Exporter / CHA /
Bill of Entry
of Lading details Filled in Custom House
(in case of Import)
www.icegate.gov.in
Airline give to Freight
Airway bill (AWB) Standard Format of Airline Forwarder
 Learn step by step Procedures & Formalities
for
Export Clearance Procedures & Formalities in India

Step 1 – Prepare Invoice and packing list according to Letter of credit or purchase order.
Now we have arrange export clearance procedures. Exporter can clearance of his cargo
self at ICD/CFS. Generally Exporter don’t have time for clearance the export goods.

Step 2 – Exporter can appoint a Custom Broker (Custom House Agent) for complete
export custom clearance procedures & formalities. Custom house agent is appointed for
safe, smooth and fast clearance of export cargo.

Step 3 – After appoint CHA, Exporter gives him all documents for completion of
necessary export customs formalities like invoice, packing list, SDF Declaration, Export
value declaration and other specific required documents.

Step 4 – After giving all documents to Custom house agent, He files shipping bill through
customs online software system electronically. Shipping bill filling software can be
downloaded from ICEGATE electronically. Before generation shipping bill no., CHA
create a check list and send a copy to exporter. Exporter check cross checking - check list
and purchase order / letter of credit. After cross verified check list by exporter, gives
instruction to cha for generate shipping bill no. The generation of shipping bill number is
as per serial order all over the country. ICE GATE is the software service provider for
Customs department of Government of India for import and export customs clearance
procedures and formalities. ICE GATE opens their software system 24 hours a day to
support export import trade for smooth clearance procedures in India. So the shipping
bill number – the serial number of export shipping bill - generated by software is
obtained by customs broker or exporter who files online on a queue basis.

Step 5 – Now the goods is ready for export and move to Sea port / Airport / container
freight station and unload the cargo in to the respective yard of shipping carrier. There
is many yard of each shipping carriers. The location of yard already decided by carrier
who birth/places the vessel / aircraft at the allocated place which is near by where in
loading of goods makes easy to handle.

Step 6 – CHA or his representative person doing arrangement of export procedures &
formalities at cfs /port. The custom officer examine / inspect the cargo physically by
cross checking the goods as per invoice and packing list and complete examination of
exporting cargo. After custom officer enter the details of examination of goods in to
software system online for the approval of higher officials of customs. The assessment
of value of goods and other information are verified by the customs officials with
necessary documentary supports if required. Customs department is also alert on the
export benefits schemes filed by you (exporter) for claim by verifying with necessary
supporting documents if required.
Step 7 – After verifying all required information, customs authorize the assessment and
inspection procedures and issue ‘Let Export Order’ as a proof of completion of export
customs procedures and formalities. Then, the prints of shipping bill are generated.
There are three type copies of shipping bills release this time, one for exporter’s copy,
second one exchange control copy which has to be submitted with Reserve Bank of
India through exporter’s bank, and third one for shipping carriers to move the cargo to
port of final destination. Representative of CHA arrange container from shipping line &
stuffing the export goods, Custom officer lock the container with custom bottle seal.

Step 8 - Once after completion of export customs clearance procedures, exporter is

eligible to obtain Bill of lading from shipping carrier of goods. However the stuffing of
said cargo may take place on the same day or later.

Step 9 – After receiving all copies of shipping bills, Representative of cha submit a copy
of shipping bill for shipping line. Shipping line officer also lock the container with
shipping line bottle seal. Bottle seals having in different color. In the port or cfs shipping
company having his own transportation for moving container from cfs to the port for
loading on vessel.

Step 10 – After loading container on vessel, the captain of vessel issued mate’s receipt
to customs.

Step 11 - After obtaining the prints – hard copy - of said original shipping bills, the
respective customs officials involved in the said process signs on the shipping bills and
return to the exporter or their appointed Customs House Agent. Once after movement
of goods from exporting country, the shipping carrier files necessary export general
manifest (EGM) with customs and based on the same, customs department issue proof
of export – Export Promotion copy of shipping bill.

Step 12 – CHA collect all document from shipping company, custom and other specific
documents. And gives to exporter with export shipment billing of CHA.

Inland Container Depot – Rail Facility

www.concorindia.com
CONCOR ISO RAIL FREIGHT CHARGES
 Import Procedure
Learn step by step Procedures & Formalities
for
Import Clearance Procedures & Formalities in India

Step 1 – Once you get all required documents from foreign supplier (Exporter) than give
all necessary document to your custom house agent to file bill of entry for import
clearance procedures & formalities. Before arrival of your goods at port of destination,
you can keep ready with all documents required for import clearance.
These major documents required are:
Bill of Lading / Airway Bill
Commercial Invoice and Packing List
Cargo arrival Notice
Freight Certificate
Insurance certificate
Purchase order or LC and other specific documents for your goods.
Important :- You need to track your shipment of arrival properly to avoid. Because you
need to import customs clearance the cargo as early as possible on arrival of shipment.
Otherwise you have to pay demurrage to the import handling authorities. Normally a
limited number of days of two or three are allowed by import handling authorities as
free of cost time duration to importer.

Step 2 – Your CHA will file Bill of entry and give you a soft copy of check list of Bill of
Entry. After checking by importer, CHA may have the software to file Bill of Entry at his
office. If you do not have such facility, you can approach private EDI (Electronic Data
Intercharge) service providers who can arrange to submit the data on behalf of you.

Step 3 – Once the cargo arrives in port, carrier of goods files Import General Manifest
(IGM) with customs department. IGM is the details of import of goods to be filed with
customs mandatory, by all carriers once goods arrived. You need to enter this numbers
in the specified column of Bill of Entry while filing. This number will be automatically
linked with your document while filing uploading the bill of entry details with customs
web software. The Bill of Entry number is generated at one place for all over the ports of
country as per software queue automatically. If your goods are under green channel
clearance, you can directly take delivery of cargo with simple procedures at port.

Step 4 – After filing bill of entry, customs house agent can view the status of bill of entry
online whether any ‘query’ is there and blocked the process or already ‘passed’ over to
next procedures. Once the bill of entry assessment completed by customs official, the
document pass over for inspection procedures as explained. Your customs broker
arranges examination of goods by ‘goods registration’ electronically at customs
department software system.

Step 5 – The inspection is carried out under the supervision of necessary customs
officials and enters examination report in the system. Once approving the inspection
report by concerned officer, bill is ‘passed out of customs’ for delivery, if no duty
amount is involved. If duty involved, you can arrange to pay the same and produce with
the deputed customs officials. The customs department updates the duty amount and
‘pass out’ order is generated by software. If you pay customs duty online with the
electronic arrangements of customs, the details of import duty paid is reflected in
customs website within a specified period of time of deposit. This facility introduced
recently helps importers minimize the formalities to pay customs import duty.

Step 6 - Prints of processed bill of entry are generated and customs officer signs
physically on the said bill of entry. You can arrange delivery of cargo once after
submitting the bill of entry of ‘passed out of customs’ with the carrier of goods. The
carrier, after collecting necessary charges if any, issued delivery order to the custodian
of cargo. The custodian of cargo delivers cargo to you or your authorized customs
broker. You move the cargo to your place.
 Letter of Credit
Basic Letter of Credit Transaction
How letters of credit work in international trade? Commercial letter of credit
transaction in simple language.

1. The starting point of the letter of credit process is the agreement upon the sales
terms between the exporter and the importer. Then they sign a sales contract. It is
important to stress here that letters of credit are not a sales contract. Actually, letters of
credit are independent structures from the sale or other contract on which they may be
based. Therefore, it should be kept in mind that a good sales contract protects the
party, which behaves in goodwill against various kinds of risks.

2. After the sales contract has been signed, the importer (applicant) applies for its bank
to issue a letter of credit. The letter of credit application must be in accordance with the
terms of the sales agreement.

3. If the importer and its bank reach an agreement together on the working conditions
the importer's bank (issuing bank) issues its letter of credit. In case the issuing bank and
the exporter (beneficiary) are located at different countries, the issuing bank may use
another bank's services (advising bank) to advise the credit to the beneficiary.

4. The advising bank advises the letter of credit to the beneficiary without any
undertaking to honor or negotiate. The advising bank has two responsibilities against to
the beneficiary. Advising bank's first responsibility is satisfy itself as to the apparent
authenticity of the credit and its second responsibility is to make sure that the advice
accurately reflects the terms and conditions of the credit received.

5. The beneficiary should check the conditions of the credit as soon as it is received from
the advising bank. If some disparities have been detected beneficiary should inform the
applicant about these points and demand an amendment. If letter of credit conditions
seem reasonable to the beneficiary then beneficiary starts producing the goods in order
to make the shipment on or before the latest shipment date stated in the L/C. The
beneficiary ships the order according to the terms and conditions stated in the credit.

6. When the goods are loaded, the exporter collects the documents, which are
requested by the credit and forwards them to the advising bank.

7. The advising bank posts the documents to the issuing bank on behalf of the
beneficiary.
8. The issuing bank checks the documents according to the terms and conditions of the
credit. In addition, the governing rules, which are mostly latest version of the UCP are
taken into account. If the documents are found complying after the examination the
issuing bank honors the payment claim.

9. The documents transmit to the applicant. The applicant uses these documents to
clear the goods from the customs.
 FORMAT FOR LETTER OF CREDIT(FOB)

FROM :( NAME * & ADDRESS OF OPENING BANK )

TO :( NAME & ADDRESS OF ADVISING BANK )

(For Shipments from Haldia ) STATE BANK OF INDIA OVERSEAS BRANCH KOLKATA SWIFT CODE SBININBB106
(For Shipments from Vizag ) STATE BANK OF INDIA OVERSEAS BRANCH VIZAG SWIFT CODE SBININBB123

40A TYPE OF L/C :IRREVOCABLE

20 L/C Number :

31C DATE OF ISSUE :

31D DT. & PLACE OF EXPIRY : __________________________________IN INDIA

50 NAME & ADDRESS OF THE:

APPLICANT

59 NAME & ADDRESS OF THE: Steel Authority of India Limited,

BENEFICIARY Central Marketing Organization, Ispat Bhawan
40 J.N.Road, Kolkatta-700071, India

32B AMOUNT OF CREDIT IN :

US DOLLARS /EURO/ANY
OTHER FREELY
EXCHANGEABLE CURRENCY
(IN FIGURES & WORDS)

39A PERCENTAGE CREDIT : AS PER CONTRACT

AMOUNT TOLERANCE

41A CREDIT AVAILABLE WITH: STATE BANK OF INDIA, KOLKATA/VIZAG and or ANY BANK IN
INDIA
CREDIT AVAILABLE BY : NEGOTIATION

42C DRAFTS : AT SIGHT

42A DRAFTS TO BE DRAWN ON:

43P PARTIAL SHIPMENT : AS PER CONTRACT

43T TRANSHIPMENT : AS PER CONTRACT

44A SHIPMENT FROM :

44B SHIPMENT TO :

44C LATEST DATE OF SHIPMENT :

45A DESCRIPTION OF GOODS :

a) Description of Materials
b) Size ( in mm) (except for Pig Iron) and Quantity (in MT)
c) Specification
d) Tolerance (except for Pig Iron)
e) Quantity
f) Quantity Tolerance
g) Price per MT (in USD/Euro/any other freely exchangeable currency)

_________________________________________________________________________________________

* L/C to be opened with First Class International Bank having Correspondent relationship with State Bank Of India. Name of
the Banks can be obtained by the buyer from SAIL

46A DOCUMENTS REQUIRED :

1. Beneficiary‟s Commercial Invoice - one original plus two signed copies covering materials shipped. Invoices
will be raised on the basis of (THEORETICAL/ ACTUAL/ DRAFT SURVEY) WEIGHT.

2. Full set 3/3 original on board ocean or charter party Bills of Lading (CONGEN) issued to the order of the
Shipper notifying applicant and blank endorsed marked “Stowed under deck” further more marked “freight prepaid/freight
payable as per charter party/ freight to pay” evidencing shipment from __________ Port, India to ________ Port in ________ .
Bills of Lading (CONGEN) with remarks “Materials partly rust stained/ rusty edges/ wet before shipment/ rust stained/ some
rusty edges” and/or “unprotected cargo” and/or “said to be” and/or “said to weigh” and/or “stored in open area prior to loading”
are acceptable.
3. Works Test Certificate in duplicate issued by the Steel Plant (s) of the beneficiary and confirming that the
materials are as per contracted specification.
4. Pre- shipment Inspection certificate issued by M/s ., (herein after referred to as) certifying the
following:
(a) The materials were inspected prior to loading at the load port and that the markings were as per General Terms
and Conditions for Export(FOB) between beneficiary and the opener.
(b) Quantity loaded on board the vessel.
(c) The materials were loaded on board the vessel without apparent damage and were found to be in good order and
condition. That the loading was done under their supervision , and were properly lashed and secured (except for pig iron)
inside the hatches / holds of the vessel.
Remarks such as “materials partly rust stained/ rusty edges/ wet before shipment/ rust stained/ some rusty edges”
and/or “stored in open area prior to loading” and/or “unprotected cargo” appearing on Pre-shipment inspection certificate are
acceptable.
5. Beneficiary‟s packing list (except for pig iron) indicating details of the materials shipped - 3 copies.
6. Certificate of origin.
7. Copy of Telex/e-mail or Fax from Steel Authority of India Limited, ________ / KOLKATA/ NEW DELHI
addressed to the opener‟s FAX No. __________ within FIVE working days after the on board Bill of Lading (CONGEN) date
advising the name of the vessel, Bill of Lading (CONGEN) number and date, materials and quantity, destination ports in
__________ (Country).

47A ADDITIONAL CONDITIONS :

1. Ocean freight is payable by the openers over and above the value of this Letter of Credit.
2. Marine Insurance to be covered by the opener.
3. In the event of (a) the failure of the opener to nominate a suitable vessel within 21 days, including lay days , from the
date of beneficiary‟s Notice of Readiness of cargo (herein after referred to as NOR) OR (b) the vessel nominated by the
opener and accepted by the beneficiary failing to arrive at __________ port within 21 days including lay days from the date of
NOR for reasons other than Force Majeure as defined under Clause 10 of the said contract OR (c) the vessel (nominated by
the opener and accepted by the beneficiary) being found unsuitable after its arrival at _______ Port as certified by
independent marine surveyors, this credit is payable at sight at your counters in Kolkata/Vizag against presentation of
beneficiary‟s draft drawn on ourselves for 100 per cent value of invoice accompanied by the following documents:
a) Beneficiary's commercial invoice in duplicate.
b) Copy of Beneficiary‟s Notice of Readiness,
c) One copy of Works Test Certificate issued by the Steel Plant (s) of the beneficiary.
d) Certificate issued by M/S ..............., certifying that the materials were inspected at the storage yard of the beneficiary
at ______ (Place) and that the markings are as per requirement of the said contract and that the materials are in good
condition and further that the materials and quantity as per the Commercial Invoice are ready for shipment.
Remarks such as “materials partly rust stained/ rusty edges/ wet before shipment/ rust stained/ some rusty edges‟ and/or
„stored in open area prior to loading‟ and/or „unprotected cargo‟ appearing in the Pre-Shipment Inspection Certificate are
acceptable.
e) Beneficiary‟s declaration that suitable vessel has not been nominated by the opener within 21 days including lay days
from the date of NOR OR that the vessel nominated by the opener and accepted by the beneficiary failed to arrive at
________ Port within the agreed lay days for reasons other than Force Majeure as defined in Clause No. 10 of the General
Terms and conditions for export of FOB contract OR that the vessel (nominated by the opener and accepted by the
beneficiary) being found unsuitable after its arrival as certified by the independent Marine Surveyors (copy of certificate of
Marine Surveyors to be presented in such an event) as the case may be.
f) Beneficiary‟s declaration that
(i) the materials as mentioned in the commercial invoice will be held in custody by the beneficiary at the
risk and responsibility of the opener at the storage yard of the beneficiary at Haldia/Vizag Port.
(ii) the materials will be covered by tarpaulin at the cost of the opener.
(iii) the Materials shall be held by the beneficiary free of ground rent for a period of 15 days from the date of
expiry of Seller‟s NOR (against documents negotiated under this clause) and for storage extending
beyond 15 days from the date of expiry of Seller‟s NOR the cost of holding the materials (ground rent)
calculated at the rate of USD 1.00 per metric tonne for every week(s) (7 days) or part thereof shall be
paid by the opener to the beneficiary till the date of acceptance of vessel‟s NOR, when the vessel finally
calls at the loadport.
(iv) Opener/Buyer to ensure that payment towards Ground Rent and/or Tarpaulin cost is remitted
and remittance instruction duly forwarded by SWIFT message, before actual shipment, against
the debit invoice.
(v) Upon nomination of suitable vessel within reasonable time by the opener for taking delivery of the
materials for which payment has been realized by the beneficiary as aforesaid and subject to such
vessel arriving at Haldia/Vizag Port within the agreed lay days, the beneficiary shall at his cost deliver
FOB (Stowed) as per terms of the said contract the materials for which payment has been realized by
the beneficiary as aforesaid.

4. Any amendment to the letter of credit without the prior written consent of the beneficiary shall not be taken cognizance of,
under this letter of credit.

71B CHARGES:
All Bank charges incurred outside India including payment Cable charges, reimbursement charges, etc.
shall be borne and paid for by the opener.
All Bank charges incurred in India shall be borne and paid for by the beneficiary.

48 PERIOD FOR PRESENTATION :

Within 21 days from the date of B/L.
49 CONFIRMATION INSTRUCTIONS:
Paying Bank may add their confirmation to this Letter of Credit at the request and expense of the beneficiary and
such confirmation shall also apply to any amendment (s) to this credit.

78 REIMBURSEMENT INSTRUCTIONS:
Upon presentation of documents complying in all respects to Letter of Credit terms, the negotiating bank is authorised
to claim on us by tested telex certifying that all terms and conditions have been complied with and that the relative documents
have been forwarded to us by Registered Airmail/ Courier. We undertake to remit within two working days after receipt by us of
your tested telex/swift claim in US Dollars/Euro/any other freely exchangeable currency in accordance with your instructions.
This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision) International
Chamber of Commerce Brochure No. 500. This telex/swift may be treated as the operative instrument.

All apparent spelling mistakes/mistakes in LC documents, which do not alter meaning/ specification/ description/ Quantity/
value of goods are acceptable and will not count as a discrepancy.