Export Loan

A revolving export credit facility is an advance extended to exporters upon presentation of valid or acceptable export documents, except a bill of lading.

1. To avoid the danger of double financing, customers already financed through pre-shipment export credit facility should not be allowed revolving export credit facility.
2. Depending on the financial strength, track record and market condition of the export product, the bank may advance up to a maximum of 90% to its customers.
3. The facility shall be availed for one year with possible annual renewal unless the Bank has sufficient reason(s) not to renew.
4. In order to advance the facility, the customer should submit the following export documents, indicating the shipment of goods to the port:

• Irrevocable letter of credit;
• Waybills such as truck way, railway, etc;
• Insurance contract;
• Certificate of cleanliness (quality certificate) from the appropriate organ; and
• Other documents as specified in the letter of credit.

5. Documents must confirm that the goods are in transit for shipment.