Advance Against Export Bills


Advance Against Export Bills


Advance Against Export BillsSent
on Collection Bills drawn on importer are sent on collection basis through the bank under the following circumstances:

(a) When the documents drawn under L/C contain any discrepancies but bank is confident that the buyer will retire the documents and

(b) When the bill purchase limit of the exporter is exhausted and bank is not willing to sanction additional limit. Under the above circumstances, bank may finance a part of the total bill amount as advance. As and when the bill is realised, the advance will be liquidated and the bank will pay the balance to the exporter. This advance carries the same rate of interest, applicable to post-shipment finance.

 

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