Make advance payment

Case Study

Title: Export of Cardamom from Nepal to India

Corridors and Routes: Not Specified

Trade Product: Cardamom

Trade Type: Export

Process Analysis: Export from Nepal, Import to India

Exporting Country: Nepal

Importing Country: India

Category: Payment between buyer and seller

Country and Procedure Description: Advance Payment(Export from NPL to IND/Cardamom)

Related Rules, Laws and Regulations:

Actors and Participants: - Importer
- Importer's Bank
- Exporter
- Exporter's Bank

Input Criteria to Enter or Begin the Business Process: -Exporter and importer have already agreed into mode of payment.

Activities and Associated Documentary Requirements: 1 Exporter informs the importer about designated bank account and asks for advanced payment. 2 Importer applies to importer's bank for fund transfer with following documents - Payment application - Pro forma invoice - Importer's import license number 3 Bank officer verifies submitted documents 4 If documents meet the requirements bank asks importer to deposit the fund 5 Importer deposits the fund 6 Importer's bank transfers the fund to exporter's bank 7 Exporter's bank transfers the amount to exporter's bank account. 8 Exporter collects the advance payment

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

Activity Diagrams:

Number of Required Documents: 3

Minimum Required Time:

Maximum Required Time:

Average Required Time: 1.5

Minimum Cost:

Maximum Cost:

Average Cost: USD 48.8