Transcription of 1. PRE-SHIPMENT EXPORT CREDIT
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1. PRE-SHIPMENT EXPORT CREDIT
EXPORT PRE-SHIPMENT CREDIT /Packing ' PRE-SHIPMENT /Packing CREDIT ' means any loan or advance grantedor any other CREDIT provided by a bank to an exporter for financing thepurchase, processing, manufacturing or packing of goods prior toshipment, on the basis of letter of CREDIT opened in his favour or infavour of some other person, by an overseas buyer or a confirmed andirrevocable order for the EXPORT of goods from India or any otherevidence of an order for EXPORT from India having been placed on theexporter or some other person, unless lodgement of EXPORT orders orletter of CREDIT with the bank has been of Advance(i)The period for which a packing CREDIT advance may be given bya bank will depend upon the circumstances of the individualcase, such as the time required for procuring, manufacturing orprocessing (where necessary) and shipping the relative goods.
1. PRE-SHIPMENT EXPORT CREDIT 1.1 Rupee Pre-shipment Credit/Packing Credit 1.1.1 Definition 'Pre-shipment/Packing Credit' means any loan or advance granted or any other credit provided by a bank to an exporter for financing the purchase, processing, manufacturing or packing of goods prior to shipment, on the basis of letter of credit opened in his favour or in
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