CBSE Class 11-commerce Answered
Discuss the formalities required to
fulfill, to get an export licence.
Asked by Topperlearning User | 17 Jun, 2016, 05:21: PM
Expert Answer
Formalities which are required to fulfill, to get an export licence are
- Open a bank account in any bank which is authorised by the Reserve Bank of India and obtain an account number
- Obtain Import Export Code i.e. IEC number from the Directorate General Foreign Trade (DGFT) or Regional Import Licencing Authority
- Register with proper export promotion council
- Register with Export Credit and Guarantee Corporation (ECGC) to safeguard against the risks involved in non-payment
Answered by | 17 Jun, 2016, 07:21: PM
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