Import process of ACI Godrej Agrovet Private Limited

Abstract

This report explain the whole process followed by ACI Godrej Agrovet Private Limited in case of international import. This report's primary goal is to study the variables that plays an important role to understand the concept of importing goods internationally. The report was put together using both primary data that I got from my organizational Supervisor about import process and secondary data that I got from the company’s website and also some books and journals on documentary credit were read. The report analyses that the organization, ACI Godrej Agrovet Private Limited goes through robust steps and precautions from the starting of a specific order till the very last step. All the documentation processes and factors are mentioned here in brief. For writing my report efficiently I have communicated with other employees of the Accounts and Finance department to grasp a better concept of the whole import process. The paper includes which other organization the company is affiliated with for example- banks and insurance company and what conditions are followed. Starting from a Letter of Credit opening to policies, cover note, import permit, payment process, and insurance claiming all the steps are explained clearly here. This study provides an overview of the current state of the import method together with a number of recommendations that, in my opinion, will help to resolve their immediate issues and benefit them in the long run.