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Export factoring on non-recourse basis

FEMA - 05 - Dated:- 16-7-2015 - RBI/2015-16/129 A.P. (DIR Series) Circular No. 5 July 16, 2015 To All Authorised Dealers in Foreign Exchange Madam/ Sir, In order to facilitate exports, Authorised Dealer Category - I (AD Category -I) banks have been p .....

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sued by the Department of Banking Regulation in this regard. 2. Taking into account the recommendation made by the Technical Committee on Facilities and Services to the Exporters (Chairman: Shri G. Padmanabhan), it has been decided to permit AD banks .....

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into export factoring arrangement on non-recourse basis. They should ensure that their client is not over financed. Accordingly, they may determine the working capital requirement of their clients taking into account the value of the invoices purchas .....

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he export proceeds. c. AD bank, being the Export Factor, should have an arrangement with the Import Factor for credit evaluation & collection of payment. d. Notation should be made on the invoice that importer has to make payment to the Import Fa .....

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