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34200662-International-Trade

34200662-International-Trade

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Published by Jeeta Leishangthem

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Published by: Jeeta Leishangthem on Apr 10, 2011
Copyright:Attribution Non-commercial

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11/21/2012

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Export packing credit is a loan or any other credit given by a bank to an exporter

for financing (a) procuring raw materials and components to manufacture the product or

(b) processing or assembling or packing the goods for export. The banks on the basis of

the following give the packing credit.

A letter of Credit (L/C) opened in favour of the exporter by the importer's bank: A

confirmed or irrevocable order for the export of goods from India having been placed on

the exporter, or Any other evidence of an order for exports of goods from India having

been placed on the exporter or Relevant policy issued by the ECGC; or Personal bond in

the case of party's already known to the exporter.

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