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sivakumar   23 April 2018

Ecgc

Export documents sent to buyer directly with intimation to banker. Also, the banker has no swift connection with the banker of the buyer. We lodged a claim with ECGC. They are aksing letter from bank stating that they have permited the exporter to send export documents directly to the buyer. The bank is postponing the issue of letter to as required by ECGC.


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 5 Replies

R.Ramachandran (Advocate)     23 April 2018

You are less than truthful in posting this query.

First and foremost please tell whether the Banker asked/permitted you to send the export documents directly to the buyer.

Kumar Doab (FIN)     23 April 2018

You have posted that said letter was sent direct with intimation to bank..

If any SoP was violated by you, bank may not issue said letter as desired..

If mere intimation is sufficient then convince the bank/banker ….to issue the desired letter.

sivakumar   23 April 2018

As per master circular issued by rbi in 2012, para b14 says AD-I may permit the exporter to dispatch export documents directly to the buyer. In the last para, it says that it can regularise the export bills subject to the conditions mentioned. we requested the bank to regularise our bills on that clause as we fulfil the said conditions. Waiting for banker's response. if the banker will give negative certificate, can ECGC reject our claim?

sivakumar   23 April 2018

As per master circular issued by rbi in 2012, para b14 says AD-I may permit the exporter to dispatch export documents directly to the buyer. In the last para, it says that it can regularise the export bills subject to the conditions mentioned. we requested the bank to regularise our bills on that clause as we fulfil the said conditions. Waiting for banker's response. if the banker will give negative certificate, can ECGC reject our claim?

R.Ramachandran (Advocate)     23 April 2018

If banker gives negative response, certainly the claim can be rejected.


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