- Post shipment credit is a loan or advance granted or any other credit provided by the Bank for export of goods/services from India.
- For demand bills, the period of advance will be the Normal Transit period (as specified by FEDAI).
- For usance bills, the period of advance will be usance period of the bill plus Normal Transit period, if applicable and grace period, if any.
- Documents of title to goods exported.
Liquidation of Post Shipment Credit
- Post shipment credit should normally be liquidated by the proceeds of export bills received from abroad in respect of goods exported/services rendered.
- The exporter has the option to avail pre shipment credit and post shipment credit either in rupee or in foreign currency. However if the pre shipment credit has been availed in foreign currency, the post shipment credit has also to be availed in foreign currency
Who can apply
- Companies or any other legal entity engaged in engaged in providing/rendering of services can avail this loan.
To avail the loan, you can choose any of these:
Loans for export
Get a loan or advance for for export of goods/services from India.
Loans for Insurance
Get loan for period of issuance plus normal transit period and grace period (if any)
Avail loan by submitting documents of title to goods exported.
- Export bills negotiated under letter of credit
- Export bills purchased under confirmed orders/export contracts
- Advances against export bills sent for collection etc.