Key Highlights What is CIF (Cost Insurance, and Freight)? CIF (Cost, Insurance, and Freight) is an international shipping term that defines individual pays or bear for transportation and insurance cost against export. Under CIF delivery terms, the seller pays for the cost of goods, international freight, and cargo insurance until the goods reach the buyer’s […]
Key Highlights Introduction- What Is Virtual Bank Account? A virtual bank account is changing the way Indian exporters manage their money from around the world. It lets them get paid in different currencies, like USD, GBP, and EUR. With this bank account, they get faster transactions, better cash flow, and lower costs. This means exporters […]
Key Highlights Next, let’s delve into an introduction to these two financial instruments. Introduction In international trade, businesses often use important financial tools to make sure their deals are safe. Two common tools are letters of credit and bank guarantees especially designed for EXIM payment, iIt is important for businesses to know the difference between […]
Key Highlights Now, let’s dive into what makes virtual bank accounts a revolutionary tool for financial management. Introduction Managing international payments is slow, costly, and complex. But what if a single virtual account could simplify it all? In today’s world, where things are becoming more digital, virtual bank accounts are now a popular choice instead […]
Key Highlights Introduction The world of global trade changes fast, and many people in India face trouble with slow cross-border payments. These delays and extra costs make things hard for exporters. Now, central banks around the world are starting to use Central Bank Digital Currencies (CBDCs). This new way can help solve problems with sending […]
Key Highlights Introduction In the world of international trade, getting paid on time is just as important as securing the order. For Indian exporters, payment delays can disrupt operations, strain relationships, and create serious cash flow issues. The causes vary — from incorrect documentation and inefficient banking to misaligned payment terms or foreign exchange delays. […]
Key Highlights Introduction Navigating international trade without an updated Import Export Code (IEC) can be a costly oversight for Indian exporters. Issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce, Government of India, the IEC is essential for seamless trade operations. As international trade regulations evolve, annual renewal ensures compliance […]
Key Highlights Transitioning smoothly, let’s dive into the basics of e-BRC and its importance in export transactions. Introduction The Electronic Bank Realisation Certificate (e-BRC) serves as proof of export payment receipt, issued digitally by banks. It marks a significant step in modernising export documentation, replacing cumbersome paperwork. The Directorate General of Foreign Trade (DGFT) introduced […]
Key Highlights Complete Guide to Foreign Inward Remittance Certificate Introduction Understanding the foreign inward remittance certificate (FIRC) is important for anyone dealing with international payments or money transfers. This document helps with following the rules and making sure that the foreign currency coming in meets RBI guidelines. Whether you are a freelancer, a startup, or […]
