Pre-export finance

Pre-export finance

After the confirmation of an order by the buyer, mostly through a Letter of Credit, exporters often need working capital finance to fund wages, production cost, buying raw materials, processing and converting into finished goods and packaging. The finance required by an exporter, prior to the shipment of goods, is defined as pre-export finance. 
The banks grant pre-export credits under the concessional rates of interest at 7.5 per cent and it can extend to a maximum period of six months.

Pre-export finance is accessible by the exporters through receivable-backed financing, inventory/warehouse financing and pre-payment financing.

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