Make advance payment

Case Study

Title: Import of Rice from India to Nepal

Corridors and Routes: Barauni - Kathmandu

Trade Product: Rice

Trade Type: Import

Process Analysis: Import to Nepal

Exporting Country: India

Importing Country: Nepal

Category: Payment between buyer and seller

Country and Procedure Description: Advance payment
(Import to NPL from IND/ Rice)

Related Rules, Laws and Regulations:

Actors and Participants: -Importer
-Importer bank
-Exporter
-Exporter bank

Input Criteria to Enter or Begin the Business Process: -Exporter and Importer have already agreed into sales/ purchase terms of trade

Activities and Associated Documentary Requirements: 1. importer applies for fund transfer to importer bank with following documents -Filled in payment application -proforma Invoice -foreign exchange declaration form -PAN/VAT certificate -Firm registration certificate 2.Bank verifies submitted document 3. If submitted documents are found correct bank asks importer to deposit the fund 4. Importer deposits the fund 5. Importer bank transfers the fund to exporter bank 6. Exporter bank transfers the amount to exporter's account 7.Exporter collects the advance payment

Output Criteria to Exit the Business Process: -Exporter receives advance payment

Activity Diagrams:

Number of Required Documents: 5

Minimum Required Time:

Maximum Required Time:

Average Required Time: 1

Minimum Cost:

Maximum Cost:

Average Cost: USD 18.30