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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.
Export Declaration : 'Every exporter must make a true declaration in the prescribed form. The declaration is mandatory and includes: i) The full export value of the goods; or
Is it possible to share some insight on various market segments in Indian mobile phone industry and their respective sizes
TT (Telegraphic Transfer) Rate : Telegraphic Transfer rate may be either TT in detail. T.T. Buying Rate: This rate is applied for purchase of foreign currency by banks where cover
Risk as an Importer : The position is entirely opposite of what it is for the exporter. If the importer is billed in rupees, he does not stand to loss at all whether the foreign
Amount: The loan amount is decided on the basis of export order and the credit rating of the exporter by the bank. Generally the amount of packing credit will not exceed FOB value
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PROCEDURES : Export is considered as an engine of economic growth. Government make all out efforts to promote exports. At the same time, the export of essential commodities needs
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Legal Dimension : When the goods are in transit from the exporter to the importer, they are, at different stages, in the custody of different agencies and authorities including th
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