Friday, February 19, 2016
Export-Import business is a self made profitable business most of the time if you can do the business. its kind of own start up business and make more self in dependency with financial solvency. Bangladesh is a potential country for export import business. Now how one can start Export-Import business from Bangladesh as follows.
Step-1:
Buyer and seller agreement/proforma invoice/sales invoice:
This document is needed at first step to do Export-Import business. Exporter will send this document (Buyer and seller agreement/proforma invoice/sales invoice) to Importer.
Step-2:
Application:
If i am an importer i have to give an application to my local bank. In this application here will be some documents and certificates and these documents are:
1.Agreement/proforma invoice
2.Application
3.Trade Licence
4.Tin
5.VAT
6.IRC
7.Insurance
8.Margin Money
Step-3:
If my local bank(example: Dutch Bangla Bank) accept the application they(Bank) will send the LC to Exporter's Bank.
Step-4:
Confirmed Letter of Credit:
A confirmation letter will go to the exporter's Bank that is exporter's local bank will confirm the exporter about the document.
Step-5:
Product is Shipped:
If supplier think that LC is perfect that time he/she will go for shipment.
Step-6:
Document:
Exporter/Supplier also have to give some document to his local bank that is exporter's bank. Common documents are:
1. Commercial invoice
2.Packing List
3.Certificate of Origin
4.Certificate of Analysis
5.Bill of Lading
6.Bill of Exchange
These are the documents that have to submit to the exporters bank account. If exporter don't submit these document that time exporter will not eligible for the payment so its important.
Step-7:
Document:
exporter's bank will send these document(step-6) to the importer's bank.
Step-8:
Document:
If we are importer we will provide all our documents that we will get from our bank to the C and F agent to have our products. C and F agent will solve all the procedure( custom and so on) after that.
Step-9:
Money:
After completing all the task importer's bank will send money to the exporters bank.
Step-10:
Money:
Exporter will get the money from his local nominated bank.
These are the procedure to do export-import business from Bangladesh. Whenever you will do practically you will be more clear. Best of luck.
