What is Import Export Code (IEC) ?

Taking your product or services to the international market will expand your businesses. But visualizing an import/export operation itself can be difficult for an uninitiated person, and her job is made more difficult by the various commercial jargons and legal procedures that international trade has. In this present article we shall deal with a small part of import and export, called Importer Exporter Code (IEC).

Advantage of IEC :

  • Import Export Code number is the primary proof of a firm as an Exporter/Importer in India.
  • Banks require the exporters IE Code while receiving money from abroad.
  • IE Code is issued for the lifetime of the entity and requires no renewal.
  • All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments.