Packing Credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 December 2009 Hi,

I am Nitu Pandey, working with a software company as an account Executive. I want to know about procecing packing credit & what is documentation for this.

Thanks & Regard
Nitu

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 December 2009 Packing credit loan are of two types.
1) Pre shipment credit.
Pre-shipment Credit Funds lent by banks in rupees or foreign currency (PCFC) to exporters, prior to the shipment of goods. Pre-shipment finance can be in the form of packing credit, advance against cash incentives and others.
2) Post shipment credit.
Post-shipment Credit Funds lent by banks in rupees or dollar-denominated credit (PSCFC) to exporters after the shipment of goods. This is useful to exporters who may otherwise suffer a long collection period. Post-shipment finance can be in the form of purchase or discounting of export bills, advance against foreign bills presented for collection, advance against cash incentives, etc.

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Querist : Anonymous

Querist : Anonymous (Querist)

04 December 2009 Sir Thanks Again

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