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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 the bills is left undrawn for payment after adjustments due to difference in weight quality, etc. Advances are granted against such undrawn balances. In this case the export proceeds must be realised within 90 days.
The advances are granted provided the undrawn balance is in conformity with the normal level of balances left undrawn subject to a maximum of 5% of the full export value. The exporters are supposed to give an undertaking that they will surrender the balance proceeds within 6 months from the date of shipment
OBJECTIVES After Studying this unit, you should be able to: 1. Describe the procedure of Pre-shipment Credit; 2. Explain various types and procedure of Post-shipment Cr
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Regression line drawn as Y=C+1075x,when x was 2, and y was 239, given that y intercept was 11. calculate the residual
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Forward Contracts : As you have learnt that entering into forward contract is one of the important method of dealing with the foreign exchange risk. Let us also remind you that in
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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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