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As an exporter should I insist upon LC from my buyer/ importer?		If you are not sure of the creditworthiness of your client then the best course is to obtain LC and thereby mitigate the credit risk.
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What are the countries/ areas you cater to?		Besides Germany we have regular exporter clients in Europe and other parts of the world. As such we give focused attention to India related export business from, Denmark, Sweden, Norway, Finland, Austria, Russia & Ukraine. However, our foreign trade activity is not restricted by geographical boundaries.
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Which Bank's LCs are accepted by you?		Besides LCs from all SBI Group branches, we welcome LCs from all other Public Sector and major Private Sector Banks (Indian and International) in India.
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Is it possible to receive payment at sight even if the LC provides for payment after 90/ 180 days from shipment?		Yes, if the LC is routed through us.
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Is it possible to discount export bills under LCs opened by banks in India including foreign banks' branches in India?		We discount bills drawn under LCs opened by major banks in India including the International Banks' branches.
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Is the discounting of Export Bill done 'without recourse' to the exporter?		Yes, provided the export documents submitted to us are exactly as per the terms of the relative LC , i.e.without any discrepancy.
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If the LC is received through some other Bank, is it possible to negotiate documents through your branch?		Yes, if the LC is freely negotiable. We are authorized to negotiate export documents drawn under LCs opened by first class banks in India. However, we need to get authenticated copy of the LC before making any commitment.
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What are the essential documents to be called for by the importer under LC?		Some of the important documents are invoice, transport document, certificate of origin, packing list, insurance policy / certificate, importers may consider obtaining third party inspection certificate ensuring goods being imported are of agreed / desired quality/ specifications.
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What is a Buyers Credit?		'Buyers Credit' is a Short Term Foreign Currency Loan availed by an importer in India from a lending bank abroad with approval from the Central bank of the Country i.e. Reserve Bank of India.
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What is a Suppliers Credit?		Suppliers Credit is a 6 month Foreign Currency Loan granted at the request of exporters. Since it is an arrangement between a bank abroad and the Exporter / Supplier. Although it may be secured by a LC, the Importer in India is not required to obtain any approval. Approval required for period exceeding 6 months.
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For an exporter, what are the advantages of a Suppliers Credit?		The interest rates for Bank Finance prevailing in India are higher than those in Germany / Europe. Indian importer's cost of production reduces substantially if the Exporter offers goods on deferred payment terms. The exporter can thus have competitive advantage over competitors. Having our large network in India, we know the Indian Corporates & Banks better & can assist the Exporters in this regard.