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iiiEM Knowledge : What is an Inspection Certificate ?

An inspection certificate is a document used to signify that shipped goods have been inspected in order to certify that they conform with the terms stated on the sales contract. It is only required on specific goods, such as industrial equipment, perishable items, and meat.

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iiiEM Knowledge : Is there a need to renew the IEC Code in India?

The Import Export Code is a ten-digit number that is issued by the Director-General of Foreign Trade, Ministry of Commerce. Once the IEC application is submitted, it is granted for a lifetime. Thus, unlike most licenses, the IEC number does not expire and there is no need for renewal.

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iiiEM Knowledge : What is Bank Realisation Certificate ?

A Bank Realisation Certificate or BRC is a certificate issued by banks as a confirmation that the exporter has received payment against export of goods from his buyer.

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iiiEM Knowledge : What is a Letter of Credit ?

A Letter of Credit (LC) is a document that guarantees the buyer’s payment to the sellers. It is issued by a bank and ensures timely and full payment to the seller. If the buyer is unable to make such a payment, the bank covers the full or the remaining amount on behalf of the buyer.

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iiiEM Knowledge : What is Export Credit Insurance and How does it help ?

Export credit insurance protects a seller from the risk of nonpayment by a foreign buyer. The insurance usually covers commercial risks such as buyer insolvency, bankruptcy, or default. . Build “International Business Entrepreneurs of Tomorrow” Our experienced faculties are passionate about providing a quality knowledge base along with practical training in international business. . Follow Us for more updates....@iiiemexim

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iiiEM Knowledge : What is Proof of Product (POP) ?

Proof of product is an essential document set in petroleum trading which is documentary evidence that the product exists.

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iiiEM knowledge: What is Free on Board (FOB) ?

Free on Board (FOB) is a term used to indicate who is liable for goods damaged or destroyed during shipping. It indicates when liability goods are transferred from a seller to a buyer.

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iiiEM knowledge: What is HS Code ? 

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iiiEM knowledge: What is APEDA ? . . Follow Us to get daily Update about Export Import Business