Export Package Credit (EPC)
10.00%
Export Packaging Credit-EPC (Secured)
11.00%
Export Packaging Credit-EPC (Unsecured)
Export Package Credit is a credit facility for shipment/packing of finished goods against export Letter of Credit from Overseas buyer.
Eligibility
- Secured: the clients who can provide adequate collateral (only fixed assets) and borrowers with good credibility.
- Unsecured: State owned enterprise and existing clients with good credibility
Quantum
- Secured: Maximum of 75% of LC value and the collateral need to be provided for secured EPC.
- Unsecured: Maximum of 50% of the LC value
Tenure
- 6-12 months
Check List For EPC
- Application form duly filled in and signed on all the pages.
- Copy of Citizenship Identity (CID) of the applicant
- Copy of Citizenship Identity CID of the guarantor, if applicable.
- Guarantor application form duly filled in and signed on all the pages, if applicable
- Recent Pass Port size photograph of the applicant and guarantor, if applicable
- A copy of a valid export license.
- Financial statement of last two years
- Projections of export sales for current year.
A standard agreement should consist the following points:
- Quantity and quality of export
- Price Negotiated / Rate
- Terms of payment
- Standard terms of LC
- Re-imbursement Authority to be incorporated
- Copy ownership certificate(s) of the collateral security offered to bank.
- Consent letter from the Family or joint owner if the collateral provided is in joint and co-ownership.
- Family tree if the collateral is in family name.
- CIB report
- Floor price for export of proposed product
- Secured: the clients who can provide adequate collateral (only fixed assets) and borrowers with good credibility.
- Unsecured: State owned enterprise and existing clients with good credibility
- Secured: Maximum of 75% of LC value and the collateral need to be provided for secured EPC.
- Unsecured: Maximum of 50% of the LC value
- 6-12 months
- Application form duly filled in and signed on all the pages.
- Copy of Citizenship Identity (CID) of the applicant
- Copy of Citizenship Identity CID of the guarantor, if applicable.
- Guarantor application form duly filled in and signed on all the pages, if applicable
- Recent Pass Port size photograph of the applicant and guarantor, if applicable
- A copy of a valid export license.
- Financial statement of last two years
- Projections of export sales for current year.
A standard agreement should consist the following points:
- Quantity and quality of export
- Price Negotiated / Rate
- Terms of payment
- Standard terms of LC
- Re-imbursement Authority to be incorporated
- Copy ownership certificate(s) of the collateral security offered to bank.
- Consent letter from the Family or joint owner if the collateral provided is in joint and co-ownership.
- Family tree if the collateral is in family name.
- CIB report
- Floor price for export of proposed product
