? KAUSTUBH
BARVE ? ROSHAN WAGH ? SANTOSH KUMAR ? PRASHANT TURALE ? AKSHAY RAJE
GUARANTEED REMITTANCE (G.R.) FORM
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G.R. Form is an exchange control document required by the Reserve Bank of India (R.B.I) It is a type of declaration and assurance as regards foreign exchange receivable out of the export transaction. This form (In duplicate) is to be used when exports are made to all countries otherwise than by post.
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Unless form GR is presented the customs authorities will not pass the shipping bill.
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As per the exchange control regulations, an exporter has to realize export proceeds within 180 days of the shipment of goods from India. In order to ensure this, the RBI has introduced the GR procedure
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GR in duplicate is submitted to the Customs with the Customs Copy of Shipping Bill Customs put a running Serial No. on both the copies of GR Customs certifies the value of goods declared by the exporter & records the assessed value of goods
Duplicate copy of GR is returned to the Exporter and original is retained for transmission to the RBI
Exporter submits duplicate copy of GR to the Authorized Dealer for Negotiation of Export Bills Authorized Dealer negotiates the Bill & submits duplicate copy of GR on realizing Export Proceeds
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Mate’s receipt is a receipt issued by the Commanding officer of the ship when the cargo is loaded on the ship. Mate’s receipt is not a document of title of goods. It is merely a receipt of goods. However, it is an important document without which the exporter will not be able to obtain the Bill of Lading
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Clean Mate’s Receipt :
The commanding officer of the ship issues a clean mate’s receipt, if he is satisfied that the goods are packed properly and there is no defect in the packing of the cargo or the package.
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Qualified Mate’s Receipt :
A qualified mate’s receipt is issued when the commanding officer is not satisfied with the packing of the goods and the shipping company does not take any responsibility of damage in transit.
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It is an acknowledgement for goods received on board the ship It is a transferable document. Bill of Lading, which is the title of goods, is prepared on the basis of Mate’s Receipt It enables the exporter to clear port trust dues to the Port Trust Authorities
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SAMPLE OF MATE’s RECEIPT
BILL OF LADING
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Bill of Lading is a document issued by the shipping company or its agent acknowledging the receipt of goods on board the vessel and undertaking to deliver the goods in the like order and condition as received, to the consignee and his order.
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1) 2) 3)
A Bill of Lading serves 3 main purposes:
As a document of title to the goods As a receipt from the shipping company As a contract for the transportation of the goods
Clean Bill of Lading :
A bill of lading acknowledging receipt of goods in good condition and without any qualification is termed as a Clean Bill of Lading.
Claused bill of Lading :
A bill of lading qualified with certain adverse remarks such as “goods insufficiently packed in accordance with the Carriage of Goods by Sea Act” is termed as Claused bill of Lading
Transhipment/Through Bill of Lading :
When a transporter uses other transport facilities such as rails, roads or other steamship company in addition to its own, the carrier issues a Transhipment Bill of Lading.
Sale Bill of Lading :
A bill of Lading that has been held to long before it is passed on to the bank for negotiation or to the consignee or to his agent, is termed as a Sale Bill of Lading
Freight Paid Bill of Lading :
When the freight is paid at the time of shipment or in advance, the bill of lading is called as Freight Paid Bill of Lading .
Freight Collect Bill of Lading :
When freight is not paid and is to be collected from the consignee on the arrival of the goods, the bill of lading is called Freight Collect Bill of Lading.
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?
?
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It is a contract between the shipper and the shipping company for the carriage of goods to the port of destination It is an acknowledgement that goods mentioned in the document have been received on board for the purpose of shipment A clean bill of lading certifies that the goods received on board the ship are in order and good condition It is also useful for claiming incentives and assistances offered by the government to the exporter The exporter can claim damages from the shipping company if goods are lost or damaged after the issue of clean bill of lading
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Bill of Lading acts as a document title to goods, which is transferable by endorsement or delivery Exporter sends bill of lading to the bank of the importer so as to enable him to take delivery of the goods The exporter can give advance intimation to the foreign buyer about shipment of goods by sending him a non-negotiable copy of bill of lading
?
?
SAMPLE OF BILL OF LADING
THANK YOU!
doc_415457251.pptx
BARVE ? ROSHAN WAGH ? SANTOSH KUMAR ? PRASHANT TURALE ? AKSHAY RAJE
GUARANTEED REMITTANCE (G.R.) FORM
?
G.R. Form is an exchange control document required by the Reserve Bank of India (R.B.I) It is a type of declaration and assurance as regards foreign exchange receivable out of the export transaction. This form (In duplicate) is to be used when exports are made to all countries otherwise than by post.
?
?
?
Unless form GR is presented the customs authorities will not pass the shipping bill.
?
As per the exchange control regulations, an exporter has to realize export proceeds within 180 days of the shipment of goods from India. In order to ensure this, the RBI has introduced the GR procedure
?
GR in duplicate is submitted to the Customs with the Customs Copy of Shipping Bill Customs put a running Serial No. on both the copies of GR Customs certifies the value of goods declared by the exporter & records the assessed value of goods
Duplicate copy of GR is returned to the Exporter and original is retained for transmission to the RBI
Exporter submits duplicate copy of GR to the Authorized Dealer for Negotiation of Export Bills Authorized Dealer negotiates the Bill & submits duplicate copy of GR on realizing Export Proceeds
?
Mate’s receipt is a receipt issued by the Commanding officer of the ship when the cargo is loaded on the ship. Mate’s receipt is not a document of title of goods. It is merely a receipt of goods. However, it is an important document without which the exporter will not be able to obtain the Bill of Lading
?
?
?
Clean Mate’s Receipt :
The commanding officer of the ship issues a clean mate’s receipt, if he is satisfied that the goods are packed properly and there is no defect in the packing of the cargo or the package.
?
Qualified Mate’s Receipt :
A qualified mate’s receipt is issued when the commanding officer is not satisfied with the packing of the goods and the shipping company does not take any responsibility of damage in transit.
?
It is an acknowledgement for goods received on board the ship It is a transferable document. Bill of Lading, which is the title of goods, is prepared on the basis of Mate’s Receipt It enables the exporter to clear port trust dues to the Port Trust Authorities
?
?
?
SAMPLE OF MATE’s RECEIPT
BILL OF LADING
?
Bill of Lading is a document issued by the shipping company or its agent acknowledging the receipt of goods on board the vessel and undertaking to deliver the goods in the like order and condition as received, to the consignee and his order.
?
1) 2) 3)
A Bill of Lading serves 3 main purposes:
As a document of title to the goods As a receipt from the shipping company As a contract for the transportation of the goods
Clean Bill of Lading :
A bill of lading acknowledging receipt of goods in good condition and without any qualification is termed as a Clean Bill of Lading.
Claused bill of Lading :
A bill of lading qualified with certain adverse remarks such as “goods insufficiently packed in accordance with the Carriage of Goods by Sea Act” is termed as Claused bill of Lading
Transhipment/Through Bill of Lading :
When a transporter uses other transport facilities such as rails, roads or other steamship company in addition to its own, the carrier issues a Transhipment Bill of Lading.
Sale Bill of Lading :
A bill of Lading that has been held to long before it is passed on to the bank for negotiation or to the consignee or to his agent, is termed as a Sale Bill of Lading
Freight Paid Bill of Lading :
When the freight is paid at the time of shipment or in advance, the bill of lading is called as Freight Paid Bill of Lading .
Freight Collect Bill of Lading :
When freight is not paid and is to be collected from the consignee on the arrival of the goods, the bill of lading is called Freight Collect Bill of Lading.
?
?
?
?
?
It is a contract between the shipper and the shipping company for the carriage of goods to the port of destination It is an acknowledgement that goods mentioned in the document have been received on board for the purpose of shipment A clean bill of lading certifies that the goods received on board the ship are in order and good condition It is also useful for claiming incentives and assistances offered by the government to the exporter The exporter can claim damages from the shipping company if goods are lost or damaged after the issue of clean bill of lading
?
Bill of Lading acts as a document title to goods, which is transferable by endorsement or delivery Exporter sends bill of lading to the bank of the importer so as to enable him to take delivery of the goods The exporter can give advance intimation to the foreign buyer about shipment of goods by sending him a non-negotiable copy of bill of lading
?
?
SAMPLE OF BILL OF LADING
THANK YOU!
doc_415457251.pptx