Importer example sentences

Finance is also needed after the shipment of the goods because it may take sometime to receive payment from the importers.Bank certificate of payment is a certificate which says that the necessary documents (including bill of exchange) relating to the particular export consignment has been negotiated (i.e., presented to the importer for payment) and the payment has been received in accordance with the exchange control regulations.On receiving the bill of exchange, the importer releases the payment in case of sight draft or accepts the usance draft for making payment on maturity of the bill of exchange.Having obtained the preshipment finance from the bank, the exporter proceeds to get the goods ready as per the specifications of the importer.In case goods can be imported only against the licence, the importer needs to procure an import licence.After loading the goods on the vessel, the overseas supplier dispatches the shipment advice to the importer.In the context of an export-import transaction, bill of exchange is drawn by exporter on the importer asking the latter to pay a certain amount to a certain person or the bearer of the bill of exchange.The importer has to also pay dock dues and obtain port trust dues receipt.Assessing importer's creditworthiness and securing a guarantee for payments: After receipt of the indent, the exporter makes necessary enquiry about the creditworthiness of the importer.The exporter's bank receives the payment through the importer's bank and is credited to the exporter's account.Exporters can be informed of such an enquiry even by way of advertisement in the press put in by the importer.But in the case of usance draft, the drawer instructs the bank to hand over the relevant documents to the importer against acceptance of the bill of exchange.In India, it is obligatory for every importer (and also for exporter) to get registered with the Directorate General Foreign Trade (DGFT) or Regional Import Export Licensing Authority, and obtain an Import Export Code (IEC) number.Firstly, the importer has to obtain a delivery order which is otherwise known as endorsement for delivery.The purpose underlying the enquiry is to assess the risks of non payment by the importer once the goods reach the import destination.