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About "Regulations" topic:
This topic will cover various trade regulation/poliy llike FEMA, foreign trade regular, international trade regulation etc...
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Posted by: veguru vijayakumar babu
Activity: 25 referals , 2 comments, 2782 views
Consignment exports are exports made by Indian exporters to their agents / associates / branches / trading offices located abroad. These are also called " stock and sale " exports. The consignee, after receipt of goods will arrange for sale and after sale, repatriate the proceeds to India. In terms of FEMA, documents relating to consigment exports are to be necessarily routed through the foreign branch / foreign correspondent bank of the exporter's bank in India. Exporter's bank in India should instruct the foreign bank to deliver the documents to the consignee against a trust receipt or undertaking to deliver the sale proceeds of the export with in the prescribed period for realisation of export. Further, the freight and insurance on the export are to be arranged in India and paid by the Indian exporter only, i.e. export to be necessarily on CIF terms. The expenses relating to receipt of goods, warehousing, advertisement, selling and administration etc will be deducted from the...
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