What is FIRC in export import business

 

The information provided here is part of Export Import Training course online


What is FIRC in export import business


 

What is FIRC in export import business

FIRC means Foreign Inward Remittance Certificate. Once your overseas client pays your sale proceeds to your account, a certificate is issued by your bank in this regard mentioning the details of remittance made by your client. This is a proof of receipt which is required to submit with various government authorities while applying for financial assistance and other government support.

 

 

 

 

 


The above information is a part of Import Export Training course online


Other details on how to import export 

 

Exchange rates in the field of exports
Does exchange rate of currency effect export business?
What happens, if Bank not received money from buyer after discounting of export bills?
Is Letter of Credit LC safe for an Importer?
Difference between Bank Release Order and Bank Delivery Order
Disadvantages of Letter of credit (LC) for Exporter
Excise and Customs - Click here to read complete notification under Budget 2014
How to get Export Orders?
How to settle dispute in Exports and Imports?
Click here to know India Trade Classification(ITC)
Pre shipment bank finance to suppliers for exports through other agencies
Types of export containers
Measurement of export containers
Foreign Trade Policy of India 2015-2020
MEIS, Merchandise Exports from India Scheme
SEIS, Service Exports from India Scheme
Merge your Commercial Invoice and Packing List for all your future exports
Export procedures and documentation

 

Is Letter of Credit LC safe for an Importer?

 Is ON BOARD CERTIFICATE required for LC negotiation

What is Rummaging

How does First Appraisement system of import customs clearance procedures work?

 How does Letter of Credit work?

How does STP units work in India?

How does TT (Telegraphic Transfer) work?

 How does Wire transfer work in international business?

Sea carriers

sea exports

SEZ benefits

Shipping lines worldwide

Short shipment in Export business
Shut out procedures to get back goods to exporter's place
Spelling error in LC? Is wrong spelling a discrepancy under Letter of credit?
Stuffing and De stuffing – 2 regular terms used in shipping
Surrender of Bill of Lading – Some facts
Switch BL
What is the difference between BAF and CAF
What is the difference between High sea sales and imports
What is the difference between re-exports and re-imports
How does First Appraisement system of import customs clearance procedures work?
How does Letter of Credit work?
How does Bill of Lading work in DP payment terms?  
How does STP units work in India?
What is VACIS exam in US import customs clearance
The term FCL. What is FCL means 
How does a Running bond work?

Travelers to India under import duty exemption, Frequently Asked Questions Part 2

Triangular shipment

Types of Insurance Documents.

What is VACIS exam in US import customs clearance

When can an exporter release bill of lading from shipping company?

When does exporter get EP copy of shipping bill after customs clearance

 

 


Comments


komal verma : My name is komal verma,I work in Bank of india. I have one query regarding FIRC. One of my customer has received payment in Axis bank and the customer will submit the export documents against the payment to us.In order to realise the bill at our end we require FIRC from Axis Bank. Kindly guide whether FEDAI allows to issue FIRC or not.

Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers