AD Code Registration for Madhosingh Port: Eligibility, Documents, Procedure, Fees, Time Taken

AD Code is also known as the authorized dealer code, which is essential for custom clearance and potential trade functions. It is issued by the bank branch of the exporter’s forex account, that must be linked online on the ICEGATE 2.0 portal. AD code plays a significant role for exporters to control custom clearance for their shipments, and foreign trade transactions. The AD code registration offers smoother transactions in international trade, make sure about the compliances as per the foreign trade policies, and permitting potential tracking of all export-related to financial affairs. The team of Bizfoc offers you seamless support in AD Code Registration in India.

What is AD Code Registration?

The complete form of the AD code is the Authorized Dealer's code; it helps in the course of international commerce. AD code is a 14 distinctive digit number code issued by the exporter's bank from holding their accounts. The code has been granted once the exporter has successfully registered for an Import Export Code (IEC) by the Directorate General of Foreign Trade (DGFT). It is noteworthy that the code will never expire and remains valid for a lifetim

Eligibility for AD Code Registration

There are certain eligibility criteria for AD Code Registration are as:

• Import Export code (IEC)
• GST registration/certificate
• Dealing in export and import

Documents Required for AD Code Registration for Madhosingh Port

To proceed with AD code registration, certain documents are necessary, including:

• Bank Letter on banker's letterhead
• Authority Letter
• GST registration certificate
• Cancelled cheque
• Importer Exporter Code (IEC) certificate
• PAN of Company/ firm
• Aadhaar card of the applicant or you can say authorized Signatory

Note: All documents need to be signed by the authorized signatory and stamped from the company/ firm.

Process for AD Code Registration for Madhosingh Port

The online AD code registration process is challenging, taking time from the usual registrations. Here is the procedure for AD code registration online:

• Visit Forex Bank:

  Go to the Forex bank, where all your business transactions have been made because this bank will only issue an AD code for you.

• Submission of Application:

  The Applicant must write a letter to the branch manager, in which the applicant must mention the request for an AD code, along with all required documents.

• Obtain an AD Code Letter:

  The applicant will receive the letter from the bank once the application is accepted. The letter should be printed on the bank's letterhead and in the prescribed form by the Directorate General of Foreign Trade (DGFT).

• AD Code Registration for All Exporting Ports:

  Once the applicant receives the AD code letter, then the applicant can register for an AD code at each port from the export.

• ICEGATE AD Code Registration 2.0 Process:

  1. Visit ICEGATE 2.O website
  2. If the applicant is a new user, create your account from the ICEGATE 2.O portal.
  3. Need to submit all required documents, which are mentioned above.
  4. Once, the online application has been filed along with all required documents. The Applicant need to wait for the 3-4 working days for the approval of the ICEGATE 2.O department.
  5. Once the ID password has been generated, the applicant may proceed for the port registration.

Fee for AD Code Registration for Madhosingh Port

The application fee for AD code registration in Madhosingh port is ₹2,999 a one-time payment borne by the exporter. No further government fees are required for the AD code registration.

Time Taken to Get AD Code Registration for Madhosingh Port

Completing the AD Code registration for Madhosingh Port will take 7 to 10 working days.

Benefits of AD Code Registration for Madhosingh Port

• Trace Foreign Currency Trades: The AD code registration permits the government/authorities to trace the foreign currency of trades. It helps to create stability and transparency in the economy to know about the foreign exchange transactions done by the exporters and importers.
• Government Benefits: AD code registration assists in subsidies or incentives directly deposited into the exporter’s bank account.
• Customs Clearance: It is necessary to generate the shipping bills, which play a vital role in customs clearance in import-export affairs. If the code is not registered, then it won't be easy to generate the shipping bills.
• Registration’s Validity: Once the AD code is registered online, it holds lifetime validity with one-time fees. It leads to accessibility and functional continuity without much expense.
• Online Registration Process: The AD code registration process is done online, providing exporters with the convenience of digital transactions and a hassle-free process as it eliminates physical visits to regulatory offices.

List of ICEGATE Ports in India

BizFoc: Your AD Code Consultant for Madhosingh Port

BizFoc has a great team of professionals, advocates, and skilled and talented individuals who will guide you and provide you with an AD code registration. If you have any doubts about the port registration, kindly consult the BizFoc team.

Conclusion

The AD code registration is a fundamental need for a business involved in international trade by Madhosingh Port. As we saw, the process of online AD code registration provides smooth transactions and ensures compliance with the statutory framework of foreign exchange transactions. It is crucial in international trade to offer businesses Madhosingh Port's full potential and extend their reach across borders.

FAQ on AD Code Registration in Madhosingh Port