Copper is a good conductor of electricity and the copper wire is widely used in almost all types of electrical and electronic devices. It is also used extensively in telecommunication, mining, defence, pharmaceutical and aerospace industries. The copper wire manufacturer has to ensure that the products meet with the requirements of the BSS/ISS norms and be equivalent to international standards. Since the demand is more many manufactures also consider expanding their business to international markets. To become a copper wire exporter there are a few formalities and licenses to be obtained.
Steps Involved:
The rules and procedures are almost similar in all the countries. In India to become a copper wire exporter the customers need to get an IEC number (import/export code number) and once they get that they become a licensed importer/exporter. They then set up their export company paying the necessary fees and have a rental agreement signed if business is being set up in a rented place. They also have to apply for the PAN number in the business name. Once these are done the company can go ahead by sending samples to their international buyer. Once approved the company has to go ahead with finalising the payment terms and terms of delivery by issuing a proforma invoice. The international buyer forwards an export order and purchase order. As an exporter the client has to get the goods insured. The Indian rules require getting the insurance from the Export credit guarantee corporation (ECGC) that covers the risk of non-payment. The exporter can then go ahead with the other formalities of custom clearance, bank loan and go ahead and become a licensed full- fledged exporter.
The copper wire exporter should be registered with all the concerned bodies like the Federation of Indian Export Organization (FIECO) or International copper promotion council and many similar bodies to increase the possibilities of business expansion into wider markets.
Steps Involved:
The rules and procedures are almost similar in all the countries. In India to become a copper wire exporter the customers need to get an IEC number (import/export code number) and once they get that they become a licensed importer/exporter. They then set up their export company paying the necessary fees and have a rental agreement signed if business is being set up in a rented place. They also have to apply for the PAN number in the business name. Once these are done the company can go ahead by sending samples to their international buyer. Once approved the company has to go ahead with finalising the payment terms and terms of delivery by issuing a proforma invoice. The international buyer forwards an export order and purchase order. As an exporter the client has to get the goods insured. The Indian rules require getting the insurance from the Export credit guarantee corporation (ECGC) that covers the risk of non-payment. The exporter can then go ahead with the other formalities of custom clearance, bank loan and go ahead and become a licensed full- fledged exporter.
The copper wire exporter should be registered with all the concerned bodies like the Federation of Indian Export Organization (FIECO) or International copper promotion council and many similar bodies to increase the possibilities of business expansion into wider markets.
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