22 June 2016
We are starting an export business from India for printed material. I understand that I need to get the AD code letter from my bank. Are you able to provide a standard format or is this something that the bank should have this. Also my first shipment is through a courier company so which port should I register my IEC and AD Code. We are new in this business so would love to have a chat with you if you can spare some time & share your contact details. Thanks & regards Priti
23 June 2016
An IEC code is obtained to operate as an exporter/importer in India. Once an exporter or importer obtained an IEC – Import Export Code, he can export or import goods as per the terms and conditioned under IEC which is attached to Foreign Trade Policy of Government of India.
You can export or import from all port in India. However, the respective ports have to be mentioned as ‘branch’ in IEC . While filling up the column ‘branches’ of your firm, you need to mention the ports, you are going to operate your transaction. Accordingly, DGFT updates your IEC by mentioning ‘branch code’. When you start an operation with a new port which you have already included ‘branch code’, the ‘AD code registration’ is required to be completed with customs department. Authorized Dealer Code (AD code) is a letter received from your bank mentioning the bank’s authorized dealer code which is provided to each bank all over country.
So, if a branch code is mentioned in the Import Export code, with Director General of Foreign Trade (DGFT), you can import or export through the said port. If you have not mentioned the same at the time applying IEC, you can update as and when you require.