Why is Documentation Needed in Export Business and what are the Export Documents?
Protecting Global Business Interests Answer to this question lies in the nature of the business relations between the exporter and the importer operating from two countries . One knows, unlike the domestic business, the commercial practices and legal systems are different in the two countries the exporter and importer are operating from . Therefore, in order to protect the respective interests of the exporter and the importer involved in export business, certain documentary formalities become essential . Such documentation facilitates the smooth flow of goods and payments thereof across national frontiers . Classification of Export Documents Export documents based on the functions performed by them are broadly classified into four types: Commercial Documents Regulatory Documents Export Assistance Documents Documents required by Importing Countries Commercial Documents Commercial Invoice: This is the first basic and the only complete document in an export transaction. It is, in ...