1. Letter of Credit (LC) Management
- Open, amend, and negotiate Letters of Credit (LCs) as per buyer requirements.
- Verify LC terms and conditions to ensure alignment with purchase orders and company policies.
- Managing Back-to-Back Letters of Credit and coordinating with banks for trade finance.
- Coordinate with banks for export payments, processing and LC settlements.
- Handling banking transactions, payments, and financial reconciliations.
- Prepare and manage all export-related documents.
- Ensure compliance with international trade regulations, customs and buyer requirements.
- Coordinate with customs authorities, freight forwarders, and shipping agents.
- Ensuring compliance with customs and government regulations.
- Handle import documentation for raw materials, and other supplies required for production.
- Coordinate with suppliers, banks, and customs for the timely clearance of imported goods.
- Ensure compliance with import regulations and tax/duty under bonded warehouse facilities.
- Stay updated on local and international trade laws, tariffs, and regulations.
- Maintaining, updating, and renewing licenses (e.g., BOND, ERC, IRC, BIN, TIN, VAT, etc.).
- Ensure adherence to trade agreements, such as GSP, EBA and other duty-free schemes.
- Handle compliance required by international buyers (e.g., BSCI, SEDEX, WRAP, CTPAT).
- Act as a bridge between buyers, suppliers, and internal departments (e.g., merchandising).
- Communicate with buyers regarding shipment schedules, documentation, and payment terms.
- Negotiate terms with suppliers for raw materials and other inputs.
- Manage export proceeds and ensure timely realization of payments.
- Handle foreign exchange transactions and maintain records of inward and outward remittances.
- Coordinate with banks for trade financing, such as packing credit and post-shipment finance.
- Coordinate with shipping lines, freight forwarders, and transport agencies for the timely delivery of goods.
- Monitor shipment schedules and ensure on-time delivery to buyers.
- Handle insurance claims for damaged or lost shipments, if necessary.
- Manage the utilization of bonded warehouse facilities for duty-free import of raw materials.
- Ensure proper record-keeping and reporting to customs authorities.
- Conduct regular audits to comply with bonded warehouse regulations.
- Follow up with buyers and banks for the timely receipt of payments.
- Handle discrepancies in documents or payments and resolve issues promptly.
- Maintain records of all export and import transactions for audit and reporting purposes.
- Coordinating with various stakeholders including government authorities, Central Bank, customs officials, shipping lines, and buyer offices.
- Stay updated on changes in trade policies, export incentives, and tax regulations.
- Maintain accurate records of all commercial transactions, including export/import documents, LCs, and bank correspondences.
- Prepare reports for management on commercial activities, export performance, and compliance status.
- Identify and mitigate risks related to international trade, such as currency fluctuations, payment defaults, and geopolitical issues.
- Ensure proper insurance coverage for shipments and raw materials.
- Work closely with the merchandising, production, and logistics to ensure timely execution of orders.
- Provide commercial inputs during order confirmation and production planning.
- Monitoring import/export shipments to ensure timely delivery.
- Resolving discrepancies in shipments, documentation, and quality issues.
- Tracking trade-related expenses and negotiating costs for transportation and warehousing.
- Working with finance to manage budgets and optimize operational costs.
- Keeping abreast of changes in international trade policies, tariffs, and market trends.
- Advising on commercial planning and strategies to enhance competitiveness.
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