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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 permitted to provide export factoring services to exporters on with recourse basis by entering into arrangements with overseas institutions for this purpose without prior approval from the Reserve Bank of India subject to compliance with guidelines is .....

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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 purchased for factoring. The invoices purchased should represent genuine trade invoices. b. In case the export financing has not been done by the Export Factor, the Export Factor may pass on the net value to the financing bank/ Institution after realising t .....

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