Consignment Export

[Praveen Menon]

Experts.. need some insights

If I plan to export on consignment basis, is consignment export valid on multiple buyers or just a single buyer?

Can we export goods to an international warehouse and the 'buyers' pull as per their requirement on Fifo basis?

Thank you

AI Summary

Understanding Consignment Exports: Key Procedures, Bank Requirements, and Warehouse Conditions for International Trade A forum participant inquired about the validity of consignment exports for multiple buyers and the logistics of exporting goods to an international warehouse where buyers can pull items as needed. The response detailed the procedures for consignment exports, including requirements for banks handling shipping documents, permissible deductions from sale proceeds, and verification of account sales. It also covered conditions for opening or hiring warehouses abroad, such as export turnover requirements, transaction routing through designated banks, and maintaining records of approvals. The permissions are initially granted for one year, with potential renewals based on compliance with specified criteria.