Import Management – Issues and Challenges

Introduction

This workshop will explore the various hurdles and difficulties importers encounter while managing imports like Compliance and Regulatory Issues, Documentation Challenges, Customs Clearanc e Delays and Trade Barriers and Tariffs  

This Comprehensive course aims to equip you with the knowledge and tools necessary to tackle these various problem areas and the insights gained from this course will help you navigate the complexities of import management more efficiently and make informed decisions that contribute to the success of your business.

Course Objective

The workshop will cover following key areas- 

1. Suppliers Credit
2. Letter of Credit
3. High Seas Sales
4. IDPMS
5. Write-off /set-off Criteria

Supplier’s credit

1. Application for deferral in payments
2. How it is an attractive financing option
3. Role of GIFT city in suppliers Credi t
4. Credi t assessment and risk considerations

Letter of Credi t

1. Applicable UCP 600 articles
2. Clear and Precise Terms
3. Suppliers credi t and Letter of credi t connection
4. Legal recourse
5. Timelines and Payments guidance

High Sea Sale  Agreement (HSS)

1. What is High Sea Sales Agreement
2. Reason importers opt for HSS
3. Compliance issues faced by importers

IDPMS :

1. Detailed Operational Procedures for IDPMS
2. Advance Remittance for Import of Rough Diamonds
3. Receipt of Import Bills/Documents
4. Evidence of Import
5. Settlement of ORM with BoE
6. Extension and Write Off
7. Follow-up for Evidence of Import
8. Verification and Preservation

Write-off /set-off Criteria

1. How to use this to save on the foreign exchange if dealing with same party
2. Dos and Dont’ to be observed
3. Mechanisms used to manage debts and credits between parties

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