Make balance 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: Balance 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: -Cargo arrived to destination

Activities and Associated Documentary Requirements: 1. Importer applies for fund transfer with following document - Commercial/export invoice -Custom declaration document -PAN /VAT certificate -Firm registration certificate - Foreign exchange declaration form 2. Bank Verifies submitted document 3. If documents are approved bank requests importer to deposit the fund 4. Importer deposits fund 5. Fund transfer by importer bank to exporter bank 6. Exporter bank receives fund and transfers 7. Exporter receives balance payment

Output Criteria to Exit the Business Process: -The payment is fully settled

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