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Rate of Interest: The interest payable on pre-shipment finance is usually lower than the normal rate, provided the credit is extinguished by lodging the export bills on remittances from abroad. If the exporter fails to do so they would not be able to avail concessional rate of interest.
In order to avail the packing credit, exporters are expected to make a formal application to the bank giving details of credit requirements along with the required documents.
War Perils: War perils covered by the Institute War Clauses refer to following events: i) War, civil war, revolution, rebellion, insurrection or civil strike or any hostile act
Legal Framework : Section 50 of the Indian Customs Act requires the exporter to file a declaration in a prescribed form and submit supporting documents to enable the customs autho
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Introduction : In the Previous we learn the importance and the role of experts in a developing country like India as well as the policy framework in which exporting firms operate
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