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Import Financing Buyers Credit

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Import Financing – Buyers Credit

Buyer's credit is the credit availed by an Importer from offshore branches of the banks for payment of his Imports on due date. Importers get access to cheaper foreign funds linked to LIBOR rates as against local funding which are costly compared to LIBOR rates.

Salient Features:

•  Policy guidelines by RBI- Applicable to all banks.

•  Capital Goods Import - Credit Period for Max of 1,080 days from the date of shipment. Interest linked to Libor. 

•  Raw Material Import - Credit Period for Max of 360 days from Documents. Interest linked to Libo which is presently               (all in cost) works out to 6%.

 Term Loan appraisal & sanction by the local bank, fund release by the offshore branch.

Pdfs

Short Term ECB

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