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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.
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Export of Spares: Warranty spares, whether indigenous or imported, of plant, equipment, machinery, automobiles or any other goods may be exported upto 7.5% of the FOB value of the
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Procedure to obtain Export Licence : An application for grant of export licence in respect of items mentioned in the EXIM policy may be made in the prescribed form to the Director
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Running Account Facility: The RBI has permitted banks to grant packing credit advances even without lodgement of LIC or firm order /contract under the scheme of Running Account Fa
Factors Affecting Choice of Observation:
Marine Insurance Contract : Article 3 of the Indian Marine Insurance Act, 1963 defines marine insurance contract as "It is an agreement whereby the insurer undertakes to indemnify
NEED AND RATIONALE : Export documentation is commonly considered to be the most complex and difficult part of overseas marketing. You may have come across such comments as "export
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