DGFT : IEC (Import Export) - Foreign Trade and Digital Signature Certificates.
Export and Import Organizations (EXIM organizations) can apply for licenses online which means that they can also file accompanying documents electronically on the DGFT website. Since a Digital Signature Certificate ensures authenticity of the document, DGFT has mandated use of Digital Signature Certificates with all electronic documents uploaded on the DGFT site. This means that every EXIM Organisation needs to necessarily have a Digital Signature Certificate for transactions related to the DGFT website. On validating the identity of the sender, authenticity of the documents and validity of the DSC, DGFT then processes the documents for licence issuance. In addition to convenience, online submission of applications on the DGFT website also mean a 50% reduction in licence fee for EXIM Organisations.
Organisations can prevent fraudulent practices such as identity thefts by filing bills of entry using a Digital Signature Certificate. If an organisation is filing documents through Custom House Agents, it is important that all documents filed are accompanied by a DSC.
A Class 3/2 Digital Signature Certificate is essential for any organisation seeking an Import or an Export Licence that needs to be registered in the name of one representative authorised to represent the organisation.
Since a Digital Signature Certificate is recognised by the legal system, all documents submitted using a Digital Signature Certificate is considered on par with physically signed documents, and also attract benefits endowed upon them through the Indian Information Technology Act 2000.
Class 1 : The verification requirements are (i) AadhaareKYC Biometric or (ii) paper based application form and supporting documents or (iii) AadhaareKYC OTP + Video Verification.
The Private Key generation and storage can be in software.