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Negotiation of Export Documents under Letters of Credit : Where the exports are under letter of credit arrangements, the banks will negotiate the export bills provided it is drawn in conformity with the letter of credit. When documents are presented to the bank for negotiation under L/C, they should be scrutinized carefully taking into account all the terms and conditions of the credit. All the documents tendered should be strictly in accordance with the L/C terms. It is to be noted that the L/C issuing bank undertakes to honour its commitment only if the beneficiary submits the stipulated documents. Even the slightest deviation from those specified in the L/C can give an excuse to the issuing bank of refusing the reimbursement of the payment that might have been already made by the negotiating bank.
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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 a
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Permitted Methods : Export payment must be received in a currency appropriate to the country of final place of destination of the goods as declared on GR. etc., forms. Reserve Ran
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