Shivansh Goel

AD Code is an Authorised Dealer Code (AD Code) is a 14-digit numerical code provided by a bank with which your business has a current account. You will need to register an AD Code at every port from where your goods are cleared by customs. At the time of customs clearance, your Customs House Agent (CHA) will ask you to provide the AD Code for that particular port.

It is important for the business owner who wishes to engage in Import Export trade to be thorough and know his product and service perfectly.

The business owner must know what makes his products unique.

He must analyze the market of the target country and must evaluate the pros and cons carefully of going there including an estimation of the risks and the costs involved in it.

Most items can be exported or imported without any license/authorization but some items are allowed without license/authorization only upon fulfillment of prescribed conditions.

Some items are prohibited for import or export. Some items can normally be imported or exported by State Trading Enterprises only and some will be allowed for import or export only against a license/authorization.

The import/export policies for all goods are indicated against each item in Indian Trade Classification (Harmonized System) for Imports and Exports, usually known as ITC (HS).

Also, domestic Laws/ Rules/ Orders/ Regulations/ Technical specifications/ environmental/ safety and health norms applicable to domestically produced goods apply, mutatis mutandis, to imports, unless specifically exempted. Besides, product specific restrictions or conditions may be imposed by other Ministries or authorities.

A Corporate Auditor may not have the appropriate knowledge needed to file the duty recovery with CBP. The Customs laws and regulations can be tricky to navigate for someone that is inexperienced. Duty recovery should always be performed by an experienced person that is knowledgeable of the import regulations.

You can make a research of potential franchise opportunities and after you find someone a suitable one, contact its franchisor. The most important point is to review the franchise agreement carefully. Then, you can dive into buying a franchise. The same thing is about distributorship