VIA & FIEO : SEMINAR ON EXPORT FINANCE & LETTER OF CREDIT DOCUMENTATION

On 21 June, 2016 from 11.00 am to 5.00 pm at VIA Hall

Speaker: Mr. K. Subramanian

Seminar on  “EXPORT FINANCE” HELD AT VIA

 

Vidarbha Industries Association and Federation of Indian Export Organization [FIEO] organized a full day Seminar on Export Financing and Letter of Credit [L/c] Documentation , on Tuesday last, at VIA Hall.

 

K Subramanian, an expert in Export  Finance and  Documentation from Mumbai, guided the participants during the Technical session.

 

Krishnamurthy began the technical session by explaining what is Export Finance ans said that Export Finace meant Working capital expenses for exporters. He then went on to describe types of export finance, and said that the finance is available both in INR and USD/ Pound Sterling /Yen etc. in the name of Export credit in foreign currency.  He then explained about pre shipment export credit in INR/ Foreign Currency.  He then went on detailed presentation on Interest on Shipment credit, and guidelines pertaining to Export Finance.

 

The second Technical session was on Letter of Credit, International Practices, UCP 600 and what is letter of Credit, benefits of L/c, and types of LC etc.

 

He also gave a brief description of the common discrepancies in LC viz. Shipment related –Date,Clean on Board, Capacity, L/c No. Insurance related _date, coverage, value risks, Inconsistency, Partial/Trans shipment Expiry Presentation, alterations etc. and called upon the exporters to be careful on the above aspects.

 

Earlier Anil Parakh Vice President of VIA spoke about the importance of Export Finance and the need to have complete know how of Export Finance.

 

Nihar Lakhia Joint Director Incharge FIEO {WR}  an apex body of Indian export promotion organizations was set up jointly by the Ministry of Commerce, Government of India and private trade and industry is thus a partner of the Government of India in promoting India’s exports.Export financing is often a key factor in a successful sale. Contract negotiation and closure are important, but ultimately the company must get paid.  This seminar is an attempt by VIA and FIEO to create awareness amongst Exporters.

 

The programme was conducted by Pratik Tapadia, Coordinator, Exim Forum and vote of thanks was proposed by Gaurav Sarda Chairman Exim Forum.

 

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