It sometimes takes hours of work to create a nice effect or color grading look. And often you like to use this again in a later Premiere Pro project. You don’t have to make your effect again of course. There’s a nice functionality in the application to save all the settings of all your applied effects.
When saving your effects, it will be stored as a preset which you can recall any moment from your effects library. This can be accessed from any new project.
This preset is actually a real file which has been stored on your computer. You don’t even need to locate this if you like to share this preset with other people. You can just right click on it and say “export”. This will make a copy of the preset to a chosen destination.
After that you can share it with a colleague or friend who on his turn can then import the file into his Premiere Pro application by right clicking inside his effects library and chose ‘import”.