Ceremonies related to the purchase of goods
Procedures for placing an order
Obtaining a proforma from the seller’s company.
Refer to the Foreign Trade Vice-Chancellor to complete the order registration form.
Obtaining permission and entry according to the table of export and import regulations from the relevant organizations.
Refer to the insurance company and obtain an insurance policy.
Registration of the order in the intermediary bank.
In order to register the goods order in the bank, after completing the application form for opening credit along with the bank form and the proforma of the insurance policy and authorization, we will proceed to pay the order registration fee. The amount of the order registration fee is determined by the budget law.
proforma
After studying the regulations and regulations and circulars related to the import of goods and obtaining information from the relevant organizations and ensuring that the goods in question will be allowed to enter, importers will communicate with the seller of the goods abroad by fax, telex or telephone or his representative inside the country. He makes a call to get information about the conditions of sale of the goods he ordered, such as the unit price of the goods, delivery date, shipment date, etc.
Negotiation with the goods seller (NEGOTIATION)
After correspondence and negotiation with the seller or his representative, the buyer will receive a proforma if an agreement is reached with them.
Contents mentioned in the proforma:
ORIGIN: indicates the country where the product is made.
PAYMENT: Explains how to pay the price of the goods.
The method of payment can be cash, letter of credit or bill of exchange.
VALIDITY: Specifies the date until which the proforma is valid. If the order is registered in the bank after this date, it allows the seller of the goods not to accept the previously announced conditions.
TRANSPORT: The type of transportation is mentioned in this section.
In some proformas, it is allowed to carry the goods part by part.
PRICE – The price of goods: sometimes the price of goods is mentioned as (C.I.F.) (C.&.F.) (F.O.B).
Types of order registration
Registration of import orders against exports
The import is done against the presentation of a valid export license in exchange for the export value and is stamped with the customs seal of the country. The credit accepted by the customs from the date of the export license is the same as the imported cottage.
Term letter of credit:
It is a credit that cannot be paid immediately after the documents are presented by the beneficiary, its amount will be paid after the period specified in the credit.
Visual letter of credit:
It is a credit according to which the notifying bank pays the amount immediately after seeing the documents provided by the beneficiary, if all terms and conditions of the credit are met by him.
Order registration without currency transfer
Document registration without currency transfer in two ways:
A: 18 types of declared goods, including clothes, fabric, cigarettes, computer parts, car parts, etc.
B: The components and separate parts required by the production unit have a license to operate from the Ministry of Industries.
Uzance letter of credit:
Order registration is for you. Usance, strictly speaking, means a deadline that is set according to custom, in trade between two countries, for the payment of a foreign currency bill of exchange. Today, this word is often used to mean a deadline for any reason.
In the custom of international trade, it means a kind of guaranteed credit transaction, in this sense, a loan is considered a type of deferred letter of credit, unlike the sight letter of credit, the credit is paid as soon as the beneficiary presents the goods shipment documents to the broker bank. He is not paid. In long-term documentary credit, a negotiable document like a bill of exchange is not issued. In addition, such credits cannot be traded. If it is issued in Uzance transactions.
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