Wherever there is business, in India or overseas, there will Regulations, Rules, Guidelines to be followed.
In India, there are RBI guidelines, including the very exhaustive FEMA guidelines. These apply for various transactions like Export, Import, Retail Remittances, FDI, ODI, ECB and so on. Within FEMA, there are Operational requirements, Reporting requirements, Compliance requirements.
Outside India, for every trade transaction, there are guidelines by International Chamber of Commerce (ICC). These guidelines are for LCs, BGs, SBLCs, Collections, INCOTERMS, to name a few.