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    Post Shipment Stage

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    Paresh7777777
    The post-shipment stage involves 5 steps: 1) the C&F agent submits documents to the exporter, 2) the exporter notifies the importer of shipment, 3) documents are presented to a bank for negotiation, 4) documents are dispatched, and 5) a bill of exchange is accepted. The C&F agent provides documents including invoices, bills of lading, the letter of credit, and export forms to the exporter. The exporter then informs the importer of shipment details. Relevant documents are submitted to a bank which negotiates the payment with the importer's bank, sending certificates to the exporter. The bill of exchange and documents comprise the documentary bill of exchange, which can be sight draft or usance draft

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    Post Shipment Stage

    Uploaded by

    Paresh7777777
    403 views6 pages
    The post-shipment stage involves 5 steps: 1) the C&F agent submits documents to the exporter, 2) the exporter notifies the importer of shipment, 3) documents are presented to a bank for negotiation, 4) documents are dispatched, and 5) a bill of exchange is accepted. The C&F agent provides documents including invoices, bills of lading, the letter of credit, and export forms to the exporter. The exporter then informs the importer of shipment details. Relevant documents are submitted to a bank which negotiates the payment with the importer's bank, sending certificates to the exporter. The bill of exchange and documents comprise the documentary bill of exchange, which can be sight draft or usance draft

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    The post-shipment stage involves 5 steps: 1) the C&F agent submits documents to the exporter, 2) the exporter notifies the importer of shipment, 3) documents are presented to a bank for negotiation, 4) documents are dispatched, and 5) a bill of exchange is accepted. The C&F agent provides documents including invoices, bills of lading, the letter of credit, and export forms to the exporter. The exporter then informs the importer of shipment details. Relevant documents are submitted to a bank which negotiates the payment with the importer's bank, sending certificates to the exporter. The bill of exchange and documents comprise the documentary bill of exchange, which can be sight draft or usance draft

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    403 views6 pages

    Post Shipment Stage

    Uploaded by

    Paresh7777777
    The post-shipment stage involves 5 steps: 1) the C&F agent submits documents to the exporter, 2) the exporter notifies the importer of shipment, 3) documents are presented to a bank for negotiation, 4) documents are dispatched, and 5) a bill of exchange is accepted. The C&F agent provides documents including invoices, bills of lading, the letter of credit, and export forms to the exporter. The exporter then informs the importer of shipment details. Relevant documents are submitted to a bank which negotiates the payment with the importer's bank, sending certificates to the exporter. The bill of exchange and documents comprise the documentary bill of exchange, which can be sight draft or usance draft

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    m The Post-shipment stage consist of the following

    stages:
    1. Submission of Documents by the C&F Agent to the Exporter
    2. Shipment Advice to Importer
    3. Presentation of Documents to Bank for Negotiation
    4. Dispatch of Documents
    5. Acceptance of the Bill of Exchange
    m °n the completion of the shipping
    procedure, the C&F agent submits the
    following documents to the exporter:
    ¦ A copy of invoice duly attested by the
    Customs
    ¦ Drawback copy of the shipping bill
    ¦ A full set of negotiable and non-negotiable
    copies of bill of lading
    ¦ The original L/C, export order or contract
    ¦ Duplicate copy of the ARE-I form
    m Shipment Advice to Importer:

    ¦ After the shipment of goods, the


    exporter intimates the importer about the
    shipment of goods giving him details about
    the date of shipment, the name of the
    vessel, the destination, etc. He should also
    send one copy of non-negotiable bill of
    lading to the importer.
    m w   
        

    Submission of relevant documents to the bank and the process of getting the
    payment from the bank is called DzNegotiation of the Documentsdz and the
    documents are called DzNegotiable Set of Documentsdz. The set normally
    contains:
    ¦ Bill of Exchange, Sight Draft or Usance Draft
    ¦ Full set of Bill of Lading or Airway Bill
    ¦ °riginal Letter of Credit
    ¦ Customs Invoice
    ¦ Commercial Invoice including one copy duly certified by the Customs
    ¦ Packing List
    ¦ Foreign exchange declaration forms, GR/S°FTEX/PP forms in duplicate
    ¦ Exchange control copy of the Shipping Bill
    ¦ Certificate of °rigin, GSP or APR Certificate, etc.
    ¦ Marine Insurance Policy, in duplicate
    m 
      
    :

    ¦ The bank negotiates these documents to the importerǯs bank in the


    manner as specified in the L/C. Before negotiating documents, the
    exporterǯs bank scrutinizes them in order to ensure that all formalities
    have been complied with and all documents are in order. The bank
    then sends the Bank Certificate and attested copies of commercial
    invoice to the exporter.
    m á

    
         
    :

    Bill of Exchange accompanied by the above documents


    is known as the Documentary Bill of Exchange, It is of
    two types:
    ¦ u   
       
     u In case of sight
    draft, the drawer instructs the bank to hand over the relevant
    documents to the improper only against payment.
    ¦ u   
       u In case of
    usance draft, the drawer instructs the bank to hand over the
    relevant documents to the importer against his acceptance of
    the bill of exchange.

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