Thursday, December 1, 2011

What is Packing credit against hypothecation of goods ?

Packing credit against hypothecation of goods: Export finance is made available on certain terms and conditions where the exporter has pledgeable interest and the goods are hypothecated to the bank as security with stipulated margin. At the time of utilising the advance, the exporter is required to submit, along with the firm export order or letter of credit, relative stock statements and there after continue submitting them every fortnight and/or whenever there is any movement in stocks.

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