The procedure which will be followed by PROTOS for export of cricket bat in the Australia from

India.
The steps are listed as below:

Receipt of an order
Obtaining license and quota
Letter of credit
Fixing exchange rate
Foreign exchange formalities
Preparation for executing the order
Formalities done by forwarding agent
Bill of lading
Shipment advice to importer
Presentation of documents to the bank
Realization of export proceeds
Follow up

RECEIPT OF AN ORDER : first of all Protos need to be registered with the various
government institutions and the authorities like Reserve Bank Of India(RBI), Tax authorities etc.
then company need to hire the agents and the distributors to get the orders from the Australia.
Company can receive the order directly from the Importer or from the indent house. Indent house
is the intermediary which help the importer to get the goods available without contacting with
the exporter directly.
OBTAINING LICENSE AND QUOTA: After securing the order, the protos has to acruire the
export license by applying with the Export Trade Control Authority of India(ETCA). The ezport
quota is that which quantity is allowed to export.
LETTER OF CREDIT: After obtaining the license company will demand the letter of credit
from the importer in Australia. Letter of credit is the document which is issued by the importers
bank which declare that the importer have a good ability to pay the amount and declare that if the
importer do not comply with the due amount then the bank will pay the remaining amount of the
purchase.
FIXING EXCHANGE RATE: After obtaining the letter of credit, protos need to decide with
the importer the fixed exchange rate and the currency in which all the payments will be made.

This is essential because the rate is fluctuating everyday to reduce the risk of the exchange rate, it
is needed to make the rate decided on which the trade will be take place.
FOREIGN EXCHANGE FORMALITIES: According to Foreign exchange Act of India, the
Protos need to furnish the declaration form in the prescribed format. Form states the two things.
The foreign exchange which is earned by the way of export need to dispose and in the time
specified by the Reserve Bank of India and the payment of the proceed of the export will be
through the proper approved method.
PREPARATION OF THE EXECUTION OF THE ORDER: Protos need to perform the
following activities for the execution of the order:
The goods need to be packed and need to be marked according to the specification of the
importer, then the arrangement will be done for the pre shipment inspection done by the export
inspection agency and will acquire the certificate of inspection from them. Then Protos need to
get the credit risk insured through the Export Credit Guarantee Corporation of India. Then after
that company need to get the marine insurance policy, consular invoice and the certificate of
origin. After that the company need to appoint the forwarding agent to handle the customs and
forwarding formalities.
FORMALITIES DONE BY THE FORWARDING AGENT: Forwarding agent provide the
customs permit from the customs and forwarding department for the export of the goods. Then
the forwarding agent explain the specification of the product to the shipping company like the
weight size and the no. of units etc. then forwarding agents prepares the shipping bill, then make
the two copies of the dock challans and the dues will be paid of dock.then in the presence of the
shipping order and in the presence of the custom officer the captain of the ship load the goods on
the ship. When the goods loaded in the ship the captain issues the receipt named as the Mates
receipt.
BILL OF LADING: Protos will take the mates receipt to the shipping company and get the bill
of lading from them. Bill of lading is the acknowledgement that the goods are taken to export.
This is the contract in the shipping company and the exporter.
SHIPMENT ADVICE TO THE IMPORTER: Then the company will send the shipment
advice to the importer that the goods had been export, company need to send copy of packing
list, commercial invoice and the advice no. with the non negotiable bill of lading to the importer.