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FAQ

What is the procedure to start freight forwarding business in India?
Federation of Freight Forwarders‡ Associations in India (FFFAI)is the Apex Body and the Sole Representative of 24 Member Associations from all over India representing 5000 Custom House Agents (employing over 1,000,000 people)There are two major types of freight business—a freight brokerage business and a freight forwarding business. Both sectors have a range of benefits and downsidesStarting a freight brokerage business:Freight brokerage businesses generally don’t handle any shipments themselves. They instead act as coordinators, matching suppliers with carriers. The role involves a great deal of communication—soliciting clients, negotiating rates with carriers, tracking shipments, and arranging alternative transport if a problem develops in the supply chain.Starting a freight forwarding business:Unlike brokers, freight forwarding businesses often directly handle customer shipments. Depending on the size of the shipment and the destination, a freight forwarding business could collect goods from a customer, store them at a warehouse, group smaller shipments into one larger consignment, and even deliver them.You will need at least one vehicle for transportation, a secure storage facility for shipments, and potentially packing materials. If you’re planning on commissioning other carrier companies, you will also need to purchase logistical software.However, this increased responsibility also leads to increased liability. Where freight brokers largely act as salespeople, freight forwarders actually handle shipments and are therefore subjected to many insurance and licensing regulations.Funding and Investment: To setup a freight forwarding service in India, one will require a capital investment of approximately 12 crores. A pure third party logistics service will require investments ranging from 65-100 crores. Starting an Inland Container Depot (ICD) or Container Freight Station (CFS) requires investment of several hundred croresCompliance and Registration: In India, registration with International Air Transport Association (IATA), Air Cargo Agent Association of India (ACAAI) are very useful for freight forwarders. Other important registrations in India include:Directorate General of Foreign Trade (DGFT) registrationRegistration with the Income Tax DepartmentRegistrar of Companies and related Government Departments.Private limited company registration.Import export code (IEC).VAT (value added tax) registration.Employee’s state insurance (ESI) or PF registration.Trademark registration, when there is a unique brand name.Other services:Insurance services : The freight forwarder will provide the client insurance services to make sure that if the items do arrive damaged, they will be reimbursed and not liable for the damages.Documentation: Documentation is important for the shipment of an item overseas. There are a number of documents that the freight forwarder needs to prepare for the shipment that requires specialist knowledge.Bill of Lading (BOL) ‡ The BOL is a contract between the owner of the goods and the carrier. There are two types of BOL; firstly a straight bill of lading which is nonnegotiable and secondly, a negotiable or shipper's order bill of lading. The negotiable BOL can be bought, sold, or traded while the goods are in transit. The customer will usually need an original as proof of ownership to take possession of the goods.Commercial Invoice ‡ The invoice is the bill for the goods from the seller to the buyer. It can be used to determine the true value of goods when assessing the amount of customs duty.Certificate of Origin (COO) ‡ The COO is a signed statement which identifies the origin of the export item.Inspection Certificate ‡ This document may be required by the customer to certify the goods have been inspected or tested and the quality of the goods is acceptable.Export License ‡ This license is a government document that authorizes the export of goods in specific quantities to a specific destination.Shipper's Export Declaration (SED) ‡ The SED is used for export statistics. It is prepared via the US Postal Service (USPS) when the shipment is greater than $500.Export Packing List ‡ This is a detailed packing list that itemizes each item in the shipment, what type of packaging container was used, gross weight, and package measurements.3. Packaging.4. Labeling.5. Why should I be aware of the HS Code and tariff and why is this information important to start my own shipping and freight business you may ask.6. I have been able to find a link of pdf which says Educational wing of Federation of Freight Forwarder’s Association in India. I hope this will be a help for you: http://fiata.com/fileadmin/user_...7. There is a blog by Vijay kumar chouhan related to the challenging opportunities for Freight Forwarders in India: https://www.linkedin.com/pulse/c...It’s advisable to seek membership of an accredited industry organization. This will lend your new company some credibility, and help persuade potential customers to enlist your services. Here is the link of the FFFAI membership association Welcome to FFFAISome other few links I’ve gathered for you:https://shippingandfreightresour...http://smallbusiness.chron.com/b...http://cerasis.com/2015/06/29/ho...https://bizfluent.com/how-694127...How to Start a Freight ForwardingWith my research I’ve found out that most of the Freight Forwarder Entrepreneurs have asked the same question which you’ve asked. So I hope this research help you out. And have a great future ahead.
What are the biggest obstacles to a paperless workplace?
Depending on the industry, there could be government regulations that require paper copies to substantiate a client signature, for example. You can still digitize the paper as a backup, but the paper itself may still be required to be retained. Incoming client documents: Legacy technology systems that are unable to store and properly index paper documents. OCR is good and getting better, but not always adequate when an external document from a client needs to be stored and indexed.  Still easier to photocopy than to rekey index entries to store it digitally.  Photocopiers have new advanced features that are making this far more feasible, but this is not yet within the reach of most smaller offices. Is it easier to detect a compromised (illegitimate) paper copy than a digitally altered copy?  How easily can you verify the authenticity of a digital file?  Although paper can un reality be impacted by these same issues, the general perception is that paper has greater reliability and authenticity. Sadly, the biggest issue is probably that 'we' just don't seem to be able to give it up completely, though we have come a long way already!  There are still folks in positions of influence who are not yet ready to let go of the old ways.
Which is the most profitable product to import from China and sell in India?
i dont know how many of the answer given by experts here has IMPORT anything from China and sold in India???????, but none of the answer below is close to practical and reality of Import, You bring anything from China and you will get profit, JUST do following*Dont use alibaba. com, just pick up first flight to China, visit Shenzhen for Technical product like electronic gadgets, Gongzhou (Canton) for big machineries, hardware, furniture and so. if you want to import small commodity like household things and all then visit Yiwu, there is no substitute for the china visit, it will cost you 60k to 1lac, for visit, that way you can reduce the cost of the product means higher percentage of profit,* Find out wholsaler in India whome you can sale the product dont try to sell in retail by yourself.*whatever you buy, buy in bulk like FCL ( FULL CONTAINER LOAD) that way you will get price advantage.*In India we see goods which is hardly 2%of the total types of goods in the same categories like the 12gear bicycle which cost 300Rmb, (3000)in china is getting sold in India for 15000+, now if china having 1000types of cycles then we see hardly 10 types in India and we consider that china has this much variety only, so pickup maximum types of products under same category.In china everybody is wholesaler so you dont need to worry at all, just bargain for best priceand dont follow anybody just visit mumbai market like manish market or so then take decisionvisit http://www.cina2india.in
How much does shipping from the USA by the sea cost?
Consider LESS THAN CONTAINER LOAD: SHIPPING FROM THE USA BOXES, CRATES AND PALLETS BY SEA. Calculate shipping cost in minutes in the online freight calculator.Select Destination Country that you are shipping to. Calculate how much cost to ship freight from the USA in several clicks. Get a freight quote in email. Keep the quote on file and book your international shipment at a time of your convenience.Get shipping instructions via email. Submit essential shipping documents online. Receive your express release bill of lading in PDF file.Use open sources related to international cargo transportation from the USA by the sea on this website. Get answers to frequently asked questions on shipping freight from the USA.This real-time online freight calculator will benefit you regardless of whether you are an experienced exporter or a first-time international shipper.Watch this three minutes video on YouTube about how to get a cost of shipping freight from the USA using this online freight calculator.
How do I get export orders?
In order to get an export order one has to meet the buyer or communicate with them over internet, telephone or via physical exchange of letters.Once the terms of the contract for sale purchase is finalized the exporter has to start executing the export order. He has to ensure that he has import export number as issued by DGFT, government of India.He has to also arrange a good Clearing and forwarding agent who can ship he is goods to the buyer in the foreign country.Once the exporter has packed the goods, is ready to ship the good as per the Contract. You should contact the Clearing Agent and sign the exporters declaration form online declaring the value of the goods and the name of the buyer and the quantity and the and the ship through which the good will be sent.The customs will verify the declaration and ensure its clearance by allowing shipment to be exported.once the shipment is put on the ship the shipping company will issue a bill of lading which along with the EDF issued by custom , invoices, insurance and other documents will be submitted to the bank for collection and realisation of the same.once the payment comes from the buyer the bank will credit the foreign exchange in INR or foreign currency as per the instructions of the exporter and NOC of the invoice in their collection register as paid.
What are some myths or misconceptions about blockchain?
Bitcoin and Blockchain have been moving hand in hand ever since Bitcoin came into existence. Though Bitcoin has been there for more than a decade, not everybody is aware of its functionality. There are certain myths that we want to clear about blockchain and cryptocurrency.Myth 1: Bitcoin and Blockchain are the sameBitcoin gained traction much earlier than the underlying technology. People are aware of Bitcoin but not necessarily about Blockchain. Some even consider them to be one and the same. Bitcoin is a Cryptocurrency that can be used for different purposes like trading, purchasing goods or services, etc. Blockchain, on the other hand, is the technology that enables the transaction with cryptocurrency.Myth 2: Blockchain can only be used for cryptocurrenciesThough Bitcoin as a cryptocurrency was the first application of blockchain technology, it is not the only purpose of the technology. Blockchain has been used in several other industries like pharmaceuticals, finance, real estate, transport and tourism, disaster management etc. The technology is used to create an indestructible ledger to maintain the records of the transaction or piece of information.Myth 3: Transactions can be performed with complete anonymityIt's a misconception that the person transacting in cryptocurrency cannot be mapped or traced. People can use a pseudonym to hide their partial identity, but the address through which the transaction has been conducted can be traced.Myth 4: Tokens, Coins, and Altcoins are the sameTokens are digital assets created as a native currency to the issuing cryptocurrency platform. Tokens have a different set of characteristics as compared to Coins and can be used for availing services and buying products on the issuing platform. Coins are digital assets in the form of currency that can be used for transactions and trading on platforms accepting the currency.Myth 5: The blockchain records cannot be alteredBlockchain records are immutable is a myth as it can be changed by the person having access to the blocks. One can recompute the entire chain or until the block where the event has to be changed. Recomputing erases the previous record and forms a new record.Vishal writes??..;""