After the shipment of goods, the exporter informs the importer about the shipment. The exporter sends various documents through his/her banker, including certified copy of invoice, bill of lading, packing list, insurance policy, certificate of origin, and letter of credit. These documents are delivered to the importer after acceptance of the bill of exchange. The submission of relevant documents to the bank for getting payment is called 'negotiation of the documents'.

The exporter need not wait for payment from the importer. He/she can get immediate payment from the bank by signing a letter of indemnity, undertaking to indemnify the bank in case of non-receipt of payment from the importer along with accrued interest. After receiving payment, the exporter must obtain a bank certificate of payment, which confirms that the necessary documents have been negotiated and payment has been received in accordance with exchange control regulations.