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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.
Standard Policies The ECGC has designed four types of Standard Policies to provide cover for shipment made on short-term credit. i) Shipments (Comprehensive Risks) Policy
Advance against Undrawn Balances : In some of the export business, it is the trade practice that the bills are not drawn for the full invoice value of the goods. A small part of t
OBJECTIVES OF EXCHANGE CONTROL : Most of the developing countries including India, found it necessary to continue exchange control introduced during the Second World War on a syst
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