Export Cash Credit (Packing Credit) Loan
|Purpose||Financing against export/purchase order.|
|Financing Ratio:||Maximum 80% of the export/purchase order.|
|Nature||(i) Regular limit - revolving and renewable.
(ii) Each deal – 'non-revolving' & 'non-renewable', however validity may be extended up to expiry date of export/purchase order.
|Disbursement||Partially or fully upon request of the borrower along with/based on export/purchase order.|
|Principal Repayment||From export/sales bill realization or within expiry of the credit.|
|Interest repayment||On quarterly basis but prior to the expiry of the loan.|
|Security:||Against lien over export/purchase order and/or 50% coverage by the value of mortgaged collateral security.|
|Tenure:||Limit maximum for one year and in case of deal, maximum up to export/purchase order’s expiry date.|