Trade & Forex Services - Import & Export

Letters of Credit are a trusted mechanism for settling international trade transactions. Axis Bank offers a gamut of services to meet your Letter of Credit requirement.In addition to our overseas branches we also have an extensive correspondent bank network to get the LCs advised to the beneficiary expeditiously. We also structure Letter of Credits to suit your specific transaction requirements.

Bills under collection provides an excellent solution in lowering costs and expediting processing, while maintaining control over the transfer of goods and funds. Axis Bank provides you efficient and hassle-free import document handling and faster remittance to your supplier overseas through our strong foreign correspondent network.

You may receive Import Documents directly from the overseas supplier subject to conditions prescribed by Reserve Bank of India. Axis Bank ensures quick and efficient settlement of your direct import bills through our strong correspondent bank network.

If your payment terms with your supplier overseas are advance, we can guide you on various provisions under FEMA and assist you in efficient and faster remittance to your supplier at competitive rates.

You can make use of global interest rate arbitrage and take benefit of lower interest rates in overseas markets. Axis Bank's presence in overseas countries and wide network of correspondent banks helps you getting cheaper finance for your import liabilities by way of Buyer's credit.

e-Softex is a one stop solution for software exporters. It can be used for various activities like - generation of Softex forms, initiation of lodgement and request for realization

Features:

- Ideal for IT/ITES/MNCs
- Automated Softex form generation
- Single and Bulk lodgement/realization
- Remittance mapping including other bank eFIRC against the invoices and also invoice reduction / write-off
- Comprehensive Dashboard & MIS: Softex, Invoice & Realization status

Routing your bills through Axis Bank ensures hassle free collection of export proceeds through our correspondent network.Document compliance checks are done by well experienced and certified professions.We have tie-up with internationally reputed Courier agencies to ensure prompt, efficient and timely dispatch of your documents.

We provide export financing services in foreign currencies and in Indian rupees to meet your financing requirements in different stages of exports. You can avail of our pre-shipment finance in the form of Export Packing Credit (EPC) to enable you to finance purchase or import of raw materials, processing and packing of goods meant for exports. Post shipment, you can get your export documents discounted/purchased or get rupee advance against export bills sent on collection/ under LC at competitive interest rates.We also offer negotiations of under LC bills without recourse to beneficiary at the most economical pricing.

The export LC issued in your favor is checked for authenticity and completeness and couriered across to your doorstep. You can simply advise your buyers to route the advising of LCs through Axis Bank to ensure timely delivery. Our expert advisory team can help you understand the LC terms and assist your documentation preparation.

LCs issued by foreign banks are confirmed through us to the exporter in India, who may or may not be our customer. Once we add our confirmation to the Letter of Credit, your payment is guaranteed against complying presentation.

AMCs can export surplus foreign currency notes to an overseas bank through Axis Bank in foreign exchange for realization of their value through the latter. FFMCs may also export surplus foreign currency to private money changers abroad subject to the condition that either the realizable value is credited in advance to the Axis bank’s nostro account or a guarantee is issued by an international bank of repute covering the full value of the foreign currency notes / coins to be exported.

Objective of the Scheme :

To offer export credit lines to eligible exporter with good track record at competitive terms and conditions with better and efficient services

Eligibility

All creditworthy exporters, including those in small and medium sectors, with good track record would be eligible and shall be covered under the scheme provided:

A) Their accounts are classified as "Standard" continuously for 3 immediate proceeding years. Overall conduct of the account should be satisfactory.
B) Names of the Company/Firm and/or its Directors,Partners,Promoters do not figure in RBI's/CIBIL defaulter list / caution list and they have not been blacklisted by ECGC.
C) There are no overdue in export credit facility in our Bank as on the date of sanction of the facility.
D) They have not run up losses continuously for 3 immediately preceding years.
E) They do not have overdue exports bills in excess of 10 percent of the current year's turnover.
F) The minimum internal rating of the Borrower (Based on the latest available audited balance sheet)

Benefits to Exporter

A) Limits will be sanctioned in-principal for 3 years, with a provision for automatic renewal on yearly basis, subject to satisfactory operation and compliance with the terms              and conditions of sanction stipulated by the Bank.
B) A standby limit not less than 20% of the assessed limit will be made available, at the request of the Borrower, to the Gold Card holders for meeting urgent credit needs for          executing sudden orders. In the case of exporters of seasonal commodities, the peak and off-peak levels may be appropriately specified.
C) Request for Packing Credit in Foreign Currency (PCFC) from Gold Card holders will be given priority.
D) In case of unanticipated export order, norms for inventory, Such as holding level, margin etc., will be relaxed on case-by-case- basis taking into account the size and    nature        of the export order.
E) Service charges stipulated for Gold Card holders will be 25% lower than the charges recovered from the exporters.
F) Bank would consider waiver of collateral and exemption from ECGC guarantee schemes on the basis of card holder's creditworthiness and track record
G) The concession rate of interest in post-shipment rupee export credit applicable upto  90 days may be extended for maximum period up to 365 days.

Tenure:

The Gold Card will be issued for a period of 3 years with a provision of and will be automatically renewed for a further period of 3 years provided no adverse features, irregularities are noticed in the account. In case of any misuse of the card or observance of any violation of terms and conditions, the Bank shall have the right to recall the Card any time. The performance of the exporters to be reviewed on yearly basis to decide continuation/amendment/withdrawal of benefits to Gold Card Holder.

Sanction of Credit Limits:

Application of credit will be processed faster than for other exporters. The TAT, for the date of receipt of credit limit application along with the requisite information/documents, for processing under GOLD CARD Scheme is given below : Sanction of Fresh/enhanced credit limit 25 Days. Renewal of existing credit limits 15 Days. Sanction of ad-hoc credit facilities 7 Day.

Documents:

For Simplified Documentation, please contact nearest branch of the Bank