The exporter also must have an IEC (Import Export
Code) number issued by DGFT (Director General of Foreign Trade).
He has to file a Shipping Bill which has to be assessed by Customs
and the goods are also subject to examination by Customs before
LEO (Let Export Order) is given. This document can be filed with
Customs upto 15 days before the goods are actually exported. Like
in case of imports, in exports too, the document for assessment
and examination by Customs (Shipping Bill)
is processed through the EDI. To encourage exports, the Government
has introduced various export promotion schemes i.e. Drawback,
DEEC, DFRC, DEPB, EPCG, etc. and the exporter has a choice
to avail any of them. However, certain schemes cast an export
obligation on the exporter for which he is required to execute
Bond and Bank Guarantee for certain period. Exports are also governed
by the Customs Act, 1962, the EXIM
Policy and are subject to prohibitions and restrictions imposed
under various other Acts i.e. CITES, NDPS Act, Arms Act, Antiques
Act, Drugs & Cosmetics Act, etc.