DEAR ALL
PLZ ADVISE PROCESS OF POST SHIPMENT FINANCE -
WHAT ARE CHARGES TAKE BY THE BANK TO DISCOUNT THE POST SHIPMENT DOCUMENTS OF TENOR PAYMENT TERMS OR SIGHT LC ???
REGARDS,
SUNNY
2 Replies
CA Kedar Sakhardande
(Proprietor)
(942 Points)
Replied 15 September 2012
the charges vary from bank to bank
normally bank will keep margin of say 10-15 % which will be reversed upon realisation of bill (after recovering interest cost)
If it is a first transaction with the customer the bank may obtained credit report frpm a reputed agency and debit charges to client account
the bank may insisit on ECGC cover (premium varries from country of the customer) and debit the client for the premium
If the payment of the bill is delayed, bank may levy penal interest and also settle the transaction at the prevailing rate (shortfall if any will be debited to client)
for further details enquire with the bankers
regards
CA.Vinita Gupta
(Deputy Manager- Finance)
(2923 Points)
Replied 15 September 2012
Consult your Banker for the Rates of Interest
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