Question

Which of the following document are not required for obtaining an export license?

(a) IEC number

(b) Letter of credit

(c) Registration cum membership certificate

(d) Bank account number

Answer 1

To obtain an export licence, an exporter requires an IEC (Importer Exporter Code) number, a registration-cum-membership certificate and a bank account number. However, a letter of credit is not required for obtaining an export licence. A letter of credit is issued by the bank of an importer guaranteeing payments to the exporter’s bank.

Hence, the correct answer is option (b).