What are the formalities needed for packing credit ?

Once the regular export credit limit is sanctioned, the exporter is required to submit the following documents to the bank at the time of disbursal of packing credit loan:

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1. Export credit Agreement

2. Hypothecation/ Pledge agreement


3. Corporate/individual guarantees from company/firm/partners/directors/sureties etc.

4. Insurance policy to cover the stocks etc.

5. Necessary undertakings (e.g., for payment of insurance Premium, non-encumbrance of stocks, Payment of ECGC premium, Waiver of interest change notice, etc.)

6. Formalities connected with registration of charges were necessary.


7. Other documents as specified by the bank in the sanction letter.

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