Top 10 Mistakes First-Time Freelancers Make with Cross-Border Transactions

  Importer-Exporter Code The world of international trade is a busy place and each nation is bound by its own rules to maintain a flow of products and services in and out of the nation. To businesses in India that have plans to explore the foreign markets or are already involved in directing and receiving foreign goods, there is one all important identification number that serves them as their passport to international business: the IEC Code. Whether you are an aspiring business professional contemplating the joys of cross-border trade, or even the worrying language about the basic necessities of imports and exports, it is imperative to know what is IEC Code, what is its full form or even its philosophical significance. This guide by EximPe will demystify IEC Code, why it is mandatory, and how to get IEC Code . What is IEC Code? Decoding the Full Form and Meaning Let’s start with the basics: IEC full form is Importer-Exporter Code . In essence, an IEC Code is a 10-digit alph...

  Authorised Dealer Code If you plan to export goods from India, understanding the AD Code is crucial. This unique identifier is a legal requirement for all exporters. It helps ensure smooth customs clearance and compliance with foreign exchange laws. In this guide from EximPe , we will discuss the AD Code’s full form, meaning, importance , and how to obtain and register it for your export business. What is AD Code? (AD Code Full Form & Meaning) AD Code stands for Authorised Dealer Code. It is a unique 14-digit code issued by the bank where an exporter has a current account. Only banks approved by the Reserve Bank of India (RBI) to handle foreign exchange can issue this code. The AD Code connects the exporter’s bank account with customs authorities, allowing legal and traceable international trade transactions. Think of the AD Code as a link between your export shipments and your bank account, where you will receive foreign currency remittances. It serves as an import...

  In the dynamic world of international trade, Indian exporters constantly seek mechanisms that can streamline operations, reduce costs, and improve cash flow. One such pivotal instrument under the Goods and Services Tax (GST) regime is the Letter of Undertaking, universally known by its acronym, LUT. Understanding LUT in GST, its meaning, and its complete form is crucial if you are or want to be an exporter. This thorough guide by EximPe will help you understand the Letter of Undertaking , its purpose, its many advantages, the eligibility requirements, and the 2025 online application process. What is LUT? Letter of Undertaking is referred to as LUT. An LUT is a formal document that, under the GST framework, permits registered exporters to export goods or services without having to pay the Integrated Goods and Services Tax (IGST) up front. Exporters used to be required to pay IGST on their exports and then request a refund. Exporters can ship goods or render services without havin...

  When you often make international payments, or travel frequently abroad, on the payoff of the credit cards you might have to incur quite a number of expenses in adding forex markup fees. This is where zero forex markup credit cards enter because these cards will enable you to save 3–3.5 percent which is normally imposed by the standard cards. The comparison guide by  EximPe  of the  best zero forex markup credit cards in India in 2025  and their features, annual fee, and which one is ideal to use is presented below. What is Forex Markup Fee on Credit Cards? Forex markup fee  is an extra amount charged by banks or issuers of the card to foreign transaction of money. It is imposed between 1 to 3.5 %and it is imposed in addition to the normal currency conversion fee. Take the case of spending $1,000 abroad, a 3.5% forex markup will cost you an extra ₹2,900 — ₹3,000. Understanding the “Forex Markup Fee” (And Why “Zero” is Better) Before we move into the best ...

  Travelling frequently overseas, using foreign websites to make shopping purchases or paying using a foreign currency are some of the very common situations you may have encountered requirements of zero forex markup credit cards being a leading solution which can save on forex markup charges. However, is a zero forex markup credit card worth it to all people? This article by EximPe breaks down how these cards work , their advantages and disadvantages , and practical alternatives to save on forex charges for your global payments. What is Forex Markup Fee? Forex markup fee is another fee that can be charged on you by your bank or card issuer when you pay in currencies other than that the card is billed on. It is usually 1% to 3.5% of the transaction value. For example: You spend $1,000 abroad Exchange rate: ₹83/$ → ₹83,000 Forex markup fee (3.5%): ₹2,905 extra 👉 Total billed: ₹85,905 What is a Zero Forex Markup Credit Card? A zero forex markup credit card is a credit card that,...

  Having been an account user, you may have observed the insertion of an extra forex markups fee on the statements when utilizing your debit or credit card card and in a foreign country and when incurring an international payment. But what is forex markup fee and why do we get charged such? This article by EximPe will explain what forex markup fee means , how it works, typical rates in India, and practical ways to reduce or avoid these extra charges on your international transactions. What is Forex Markup Fee? Forex markup fee (foreign exchange markup fee) is an additional fee charged by banks and credit card companies on top of the currency exchange rate when you make a transaction in a foreign currency. 🔑 Forex Markup Fee Meaning: It is a percentage-based fee applied for the convenience of processing international transactions and converting currencies. This fee covers conversion risks, operational costs, and profit margins for banks or card issuers. How Does Forex Markup F...