Export factoring on non-recourse basis

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..... porters 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 issued 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. .....

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..... sing the 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 Factor. e. After factoring, the Export Factor may close the export bills and report the same in the Export Data Processing and Monitoring System .....

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