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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