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Overdue Interest is the additional interest charged on loan payments or debts that are not paid by the due date. This penalty compensates the lender for the delay in receiving payment and serves as an incentive for borrowers to make timely payments. The rate and calculation method for overdue interest are typically specified in the loan agreement.
A packing list is mandated by Foreign Trade Policy - Section 2.06 (a), under which a detailed document is to be provided by the shipper that itemizes the contents of a shipment. It includes information such as the description of items, quantities, weights, dimensions, and packaging details. The packing
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Payment terms DA (Documents Against Acceptance) and DP (Documents Against Payment) are methods used in international trade. DA allows the importer to receive shipping documents and goods upon accepting a time draft, agreeing to pay later. DP requires the importer to pay the invoice amount to obtain the shipping documents
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Periodic settlement refers to the regular reconciliation and payment of outstanding balances between trading partners. Instead of settling each transaction individually, parties agree to a fixed period (e.g., monthly or quarterly) to review and settle all transactions within that period. This approach streamlines financial management and reduces administrative burden.
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Pre-shipment credit is a short-term loan provided to exporters to finance the procurement, processing, and packing of goods before shipment. This type of credit helps exporters prepare goods for export without facing cash flow issues. It is typically granted against export orders or letters of credit and is repaid once
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The Rebate of State Levies (RoSL) Scheme aims to rebate all state-level taxes and levies on export goods, particularly in the textiles sector. By reimbursing these costs, the scheme ensures that exported products are competitive in the international market, thus promoting Indian exports by reducing the overall cost burden on
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A Red Clause Letter of Credit is a type of letter of credit that allows the beneficiary to receive an advance payment, typically against a receipt, before shipping the goods. This advance helps the exporter finance the production or purchase of goods, providing liquidity and facilitating smoother international trade transactions,
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