https://www.taxtmi.com/article/detailed?id=7548 Pre-shipment credit in foreign currency (PCFC) finances inputs and packing for export against an export order or irrevocable letter of credit, in freely convertible currencies permitted by the Reserve Bank. Advances must be used only for export purposes, with credit limits assessed in INR on working capital cycles and foreign currency equivalents calculated at FEDAI rates. Interest is linked to LIBOR/EURIBOR plus a spread and may vary by drawal; sanctioned tenors are limited and extensions attract higher rates with liquidation required if exports are not effected within the prescribed maximum period. ECGC offers packing credit guarantees and WTPCG to cover lender losses subject to premiums and claim conditions. en-us Wed, 16 Aug 2017 16:15:55 +0530 Wed, 16 Aug 2017 16:15:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7548 Pre-shipment credit in foreign currency (PCFC) finances inputs and packing for export against an export order or irrevocable letter of credit, in freely convertible currencies permitted by the Reserve Bank. Advances must be used only for export purposes, with credit limits assessed in INR on working capital cycles and foreign currency equivalents calculated at FEDAI rates. Interest is linked to LIBOR/EURIBOR plus a spread and may vary by drawal; sanctioned tenors are limited and extensions attract higher rates with liquidation required if exports are not effected within the prescribed maximum period. ECGC offers packing credit guarantees and WTPCG to cover lender losses subject to premiums and claim conditions. Articles FEMA - Foreign Exchange Management Wed, 16 Aug 2017 16:15:55 +0530 https://www.taxtmi.com/article/detailed?id=7548