Meaning of Export Finance

Meaning of Export Finance

Credit and finance are the life-blood of business whether domestic or international. The financial requirements of exporters can be of two types:

 

(a) Pre-shipment Finance: Pre-shipment finance refers to the credit extended to exporters prior to the shipment of goods for the execution of an export order.

 

(b) Post-shipment Finance: Post-shipment finance refers to the credit extended to exporters after the shipment of goods for working capital requirement.

 

These requirements of the exporters can be met through the following sources:

(a) Commercial banks authorised to deal in foreign currency.

(b) Export Import Bank of India (EXIM) Bank. While giving such assistance, financial institutions are mainly governed by the guidelines issued by:

(a) The Reserve Bank of India;

(b) The Trade and Exchange Control Regulations; and

(c) The International Conventions and Codes of the International Chamber of Commerce.

 

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