• EXPORT FINANCE-1

    EXPORT FINANCE

    PRE-SHIPMENT FINANCE

    ‘Pre-shipment’ also referred as ‘Packing Credit’ means:

    • Any loan or advance granted, or any other credit provided by a bank to an exporter either for financing the purchase, processing, manufacturing or packing of goods prior to shipment or for working capital expenses towards rendering of services
    • On the basis of letter of credit opened in his favour or in favour of some other person, by an overseas buyer or a confirmed and irrevocable order for the export of goods / services from India or any other evidence of an order for export from India having been placed on the exporter or some other person, unless lodgement of export orders or letter of credit with the bank has been waived.

    We shall study about this article further, in detail, in our next post.

    Keep reading!!

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