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Step 05 / 07

Check the supplier and sign a clear contract

Verify the supplier, test a sample, fix the Incoterm, and write specifications, inspection and documents into the purchase order.

  1. 1Get your IEC (and GST registration)
  2. 2Register on ICEGATE
  3. 3Check the import policy and duty for your HS code
  4. 4Get the product licences before you order
  5. 5Check the supplier and sign a clear contract
  6. 6Pay the supplier through your AD bank
  7. 7Clear the goods: bill of entry to out of charge

Check the supplier’s company registration on its own country’s official register. The name on the registration, the contract, the invoice and the bank account receiving your money must all match.

Order a sample, approve it, and write its specification into the purchase order. Agree the Incoterm (FOB, CIF and so on) so that freight, insurance and risk are clear. Book an independent pre-shipment inspection that you choose and pay for.

List the documents the supplier must send: commercial invoice and packing list in your exact name and IEC address, bill of lading or airway bill, and — if you will claim a lower rate under a trade agreement — a valid certificate of origin. Under CAROTAR 2020 the importer must be able to prove origin.

Sources (3)
  1. CBIC — Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020
  2. Indian Trade Portal — FTA tariffs and rules of origin
  3. CBIC — Central Board of Indirect Taxes and Customs