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Advance against Export Incentives : Advances against the export Incentives are given at the pre-shipments tags as well as the post shipment stage. However, the major part of the advance is given at the post-shipment stage. The advance is granted to an exporter in consideration of or on the security of any duty drawback incentives receivable from the Government. The banks follow their own procedure in granting the advance. The most common practice is to obtain a power of attorney from the exporter executed in their favour by the banks. It is sent to the concerned government department of Director General of Foreign Trade, Commissioner of Customs, etc. These advances are not granted In isolation, It is granted only if all other types of export finance are extended to the exporter by the same bank.
Realisation of Export Proceeds: If an exporter does not realise the export proceeds within the time specified by the Reserve Bank of India, he shall be liable to action in accorda
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Legal Perspective : Besides commercial necessity, documents for exports have a legal perspective. All over the world, laws regulating export-import trade as we11 as movement of fo
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