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BEST FOR

Why get it from us​?

  • Settle your inward remittances digitally.​

  • Instant conversion of EEFC to INR​

  • Electronic Letter of Credit (e-LC)​

  • Regularise your export bills in bulk digitally​

  • Instant disbursement of export packing credit​

  • Track status of export collection documents ​

Know more about our export solutions​

Inward remittances

Get your inward remittance settled in one hour. Explore the digital journey and ease of convenience while settling inward remittances.

Select the currency in which you wish to receive the remittance, download the form, enter your 12-digit current account number along with brief remittance details, and share the wire transfer instructions with your overseas business partner to initiate the transfer.

Please click here to generate Wire Transfer information to the overseas remitter.

Export bill collections

Facilitating Smooth Documentary collections and payments for your exports

Just present your documents to us and ICICI Bank will send them to your buyer’s bank in a timely manner. Documents will be released to your buyer on payment or against acceptance.

ICICI Bank’s export Bill :

  • Lodge documents through digital mode
  • Track status of documents ;
  • Wide network of correspondent banks to facilitate quick receipt of proceeds;
  • Follow up with the buyer’s bank on non receipt of payment

Initiate payment digitally through our Trade online platform, or, submit request at your branch. 

Click here for Customer Request Letter

Export finance & Export bill negotiation

1. Export finance

ICICI Bank offers credit facility to exporters for short-term working capital in the nature of both pre-shipment and post-shipment finance with a flexibility to avail in both INR and foreign currency at internationally competitive interest rates.

ICICI Bank’s export finance:

  • Pre-shipment finance available in running account as well as order based.
  • Instant disbursement of pre-shipment finance for running accounts.
  • Explore digital journey of raising disbursement request through digital mode

2. Export bill negotiation

Get your LC backed export/ domestic bill negotiated through ICICI Bank. ICICI bank offers short term working capital finance by negotiating a credit compliant bill before the due date.

ICICI Bank Export Bill Negotiation –

  • Negotiation at competitive rates;
  • No need of any collateral to avail negotiation ;
  • Bank lines available on large no. of foreign banks.

Click here for Customer Request Letter

Export LC advising

LCs are generally issued by a bank located in foreign geography and issued via SWIFT , a bank to bank communication mechanism. Before you act on them , you need to check their apparent authenticity. Get LCs issued by a foreign bank in your favour authenticated by ICICI Bank

ICICI Bank’s LC Advising :

  • Prompt delivery of authenticated copy at your doorstep ;
  • Wide network of correspondent banks with swift key arrangements 
  • Prompt electronic advising of LC (e-LC)

     

Export LC confirmation

LC confirmation is a commitment from the confirming bank to pay the negotiating bank or beneficiary without recourse, if documents align with LC terms. This commitment complements the undertaking from the issuing bank, reinforcing confidence in payment security and adherence to LC conditions.

Advantages

  • Mitigate credit risk, foreign bank risk and country risks in your export transactions
  • Assured payment upon presentation of non-discrepant documents
  • Independence from LC issuing bank's non-payment concerns

Export factoring

Export Factoring enhances cash flows and secures debts by discounting export receivables. This financial tool is pivotal for businesses, progressively employed to streamline working capital funding and optimise supply chain efficiency. Leveraging Export Factoring proves beneficial for sustainable financial management in the dynamic landscape of international trade.

Advantages

  • Streamline your receivables management efficiently
  • Transfer credit risk of the importer to the factor, to safeguard your business
  • Enjoy the advantage of upfront discounting on your receivables, thereby optimising cash flow
  • Benefit from the flexibility of Export Factoring without the need for collaterals or security

FAQs

What is Export Data Processing and Monitoring System (EDPMS)?

EDPMS is a comprehensive IT-based system which facilitates banks to report returns like:

  • XOS (export outstanding statements),
  • ENC (Export Bills Negotiated / sent for collection) for acknowledgement of receipt of Export documents,
  • Sch. 3 to 6 (realisation of export proceeds),
  • EBW (write-off of export bills),
  • ETX (extension of realisation of export bills) relating to Export transaction under FEMA to RBI.

In this system, the primary data on exports transactions including offsite software exports from all the sources viz. Customs / SEZ / STPI will flow to RBI secured server and then the same will be shared with the respective banks for follow up with the exporters. Subsequently, the document submission and realisation data will be reported back by the AD banks to RBI through the same secured RBI server so as to update the RBI database on real time basis to facilitate quicker follow up / data generation. The AD banks are required to download and upload the data on daily basis.

What is packing credit or pre-shipment finance offered ?

ICICI Bank's pre-shipment finance covers finance provided for purchasing, processing, manufacturing, or packing of goods meant for exports or finance provided for meeting expenses for rendering of services

Is this finance available in foreign currency also?
ICICI Bank provides pre shipment finance both in INR (EPC) as well as in foreign currency (PCFC) at internationally comparable rates.

Can I hedge currency risk on my export receivables?

Yes, ICICI Bank provides hedging solutions in the form of Forwards and Options to manage currency risk associated with exports

How can I track status of my export transactions online?

Through ICICI Bank’s Trade OneView dashboard you can track status of all your transactions and generate advices and SWIFT copies.

My foreign party abroad is not willing to give me LC for the export shipment. How do I discount this export bill. I do not have limits with any bank? Does ICIC bank have financing options for my need?

Yes. ICICI Bank offers export factoring facility. Export Factoring enhances cash flows and secures debts by discounting export receivables. This financial tool is pivotal for businesses, progressively employed to streamline working capital funding and optimise supply chain efficiency

What are advantages of Export factoring?
  • Streamline your receivables management efficiently
  • Transfer credit risk of the importer to the factor, to safeguard your business
  • Upfront discounting on your receivables, thereby optimising cash flow
  • Benefit from the flexibility of Export Factoring without the need for collaterals or security 

Disclaimer

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