Essay Title: 

International Trade Operations

March 28, 2016 | Author: | Posted in mathematics and economics, trade

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Running head : International Trade Operations

INTERNATIONAL TRADE OPERATIONS

International Trade Operations

Introduction

Finding overseas markets or suppliers and dealing with shipping complexities are only two of the challenges facing small firms seeking to participate in international trade (IT .Entrepreneurs should be cautioned that international trade involves many complexities above and beyond the basic disciplines necessary for operating a domestic business . International trade (IT ) can be defined as either the buying (importing ) or selling (exporting ) of goods or services on a global basis [banner_entry_middle]

(My Own Business , 2006

This essay ill explore the important aspects of international trade operations its complexities include issues of documentation , shipping financial , legal , communications , origins of , insurance , custom freight charges , insurance and licensing . Success in international trade will require that the start-up entrepreneur dedicate time , study and investment in to gain appropriate knowledge and experience on these issues

India has a diverse and rich textile tradition . The origin of Indian textiles can be traced to the Indus valley civilization . The people of this civilization used homespun cotton for weaving their garments Excavations at Harappa and Mohen -Jo-Daro , have unearthed household items like needles made of bone and spindles made of wood , amply suggesting that homespun cotton was used to make garments . Fragments of woven cotton have also been found from these sites (Crafts in India 2006

As a manager of export shipping in India , I have the knowledge on all the documentations and the safety of the products from the place of origin to the destination of clients . The following should be taken into considerations

Registration

Be sure that the company is registered with Reserve Bank of India : No longer required . Prior to 1 .1 .1997 it was compulsory for every exporter to obtain an exporters ‘ code number from the Reserve Bank of India before engaging in export . This has since been dispensed with and registration with the licensing authorities is sufficient before commencing export or import . Registration with Regional Licensing Authorities (obtaining IEC Code Number ) The Customs Authorities will not allow you to import or export goods into or from India unless you hold a valid IEC number . For obtaining IEC number you should apply to Regional Licensing Authority (list given in Appendix 2 ) in duplicate in the prescribed form given in Appendix 1 . Before applying for IEC number it is necessary to open a bank account in the name of your company / firm with any commercial bank authorized to deal in foreign exchange . The duly signed application form should be supported by the following documents

Bank Receipt (in duplicates /Demand Draft for payment of the fee of Rs 1 ,000 /- .Certificate from the Banker of the applicant firm as per Annexure 1 to the form given in Appendix 1 of this Book . Two copies of Passport size photographs of the applicant duly attested by the banker to the applicants . There must be a copy of Permanent Account Number issued by Income Tax Authorities (Income Tax Department , 1999 .If… [banner_entry_footer]

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