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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
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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TYPES OF COVER ISSUED BY ECGC : The covers issued by ECGC can be broadly divided into four groups: i) Standard Policies issued to exporters to protect them against payment risk
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Form of Contract: There are no universally acceptable norms as to the form of export contracts. It need not be a formal document signed by both the parties and it need to be s
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