I bumped into this helpful site that explains in great detail with examples on the use of Multi exit discriminator (MED) and local preference. These are the attributes required in BGP config of routers. I think it's good for my understanding at high level, so that is why i post this as a reference for myself.
The link site is http://evilrouters.net/2009/07/20/using-bgps-med-to-influence-inbound-routing/
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