Union Bank of India Export Finance

Can you tell me in detail about the Pre Shipment Finance under thrust area Exports of UBI (Union Bank of India)?

[pawan]

Union Bank has considered Exports a thrust area which has various types of finance available for pre-shipment and post-shipment requirements of exporters, including non-fund based finance. It also provides a link to Director General of Foreign Trade for online payment of dues.

Pre Shipment Credit in Indian Rupees

Union Bank of India provides Packing Credit Rupee advance to an exporter for financing the purchase, processing, manufacturing or packing of goods prior to shipment/working capital expenses towards rendering of services on the basis of Letter of Credit opened in favour or in favour of some other person by an Exporters overseas buyer or a confirmed and irrevocable order for the export of goods/services from India

Pre shipment Credit is given to exporter
Who is holding the Importer Exporter Code (IEC) Number allotted by DGFT
Exporter who has not been Caution Listed by RBI and on Specific Approval List (SAL) of ECGC.
Exporter who has an export commitment/order and has capacity to fulfil the same

Pre Shipment Credit in Foreign Currency (PCFC)

Bank also provides Pre-shipment credit in foreign Currency (PCFC) to exporters at internationally competitive LIBOR/EURO LIBOR/EURIBOR related rates
Repayment is being made by discount of export bills in Foreign Currency, or out of balances in EEFC.