What is Clean packing credit ?
Clean packing credit: This is an advance available to an exporter only on product ion of a firm export order or a letter of credit without exercising any charge or control over raw material or finished goods. Each proposal is weighted according to particular requirements of trade and credit worthiness of the exporter. A suitable margin has to be maintained. Also, Export Credit Guarantee Corporation (E.C.G.C. ) cover should be obtained by the bank.