Basic steps involved in Import-Export transactions are:
The first step to start a business,Importer-Exporters need to apply for getting Importer-Exporter code (IEC)Number to the
Director General of Foreign Trade(DGFT).
The next step of Exporter is to registered with sales tax office and even Export Credit Guarantee Corporation
in order to obtain various permissible given by the government.
For producing orders, an exporter sends a sample, if required. And an Importer sends a purchase order once
both exporter and importer have agreed upon terms and conditions of the contract like pricing, documents etc.
With exporter order in hand, the exporter starts manufacturing goods or buying them from other manufacturers.
Now Exporter makes arrangements for quality control for his goods and obtains a certificate confirming
the quality of goods from inspector of quality control.
Exportables are then dispatched to port/airports for transit.
Once the goods are loaded into the ship, a receipt is issued to the captain of the port
Now the exporter sends a set of documents to the importers like stating the date of shipment, name of vessel etc.
At last step, exporter bank sends these documents to the Importer's bank which should make the payment on of before the due date.