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ACKNOWLEDGEMENT
I would like to take privilege to thank Mr.Ajay Shad, The Director of NIS
Ahmadabad, to grant me permission to undergo this project and for
always being a source of encouragement and guidance.
I would like to thank all the staff member of my Ashram Road Branch of
Bank of Baroda who has given their precious suggestion for completion of
this project.
Lastly, I would like to thank my parents for there endless support and
affection that has helped me all throughout my project and life in general.
THANKS.
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TABLE OF CONTENT
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INTRODUCTION
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BANK OF BARODA IMPORT EXPORT
The BANK OF BARODA deals with Import Export sector under which it
provide finance for both Import an Export purpose. Many big companies
can avail fund for their Import –Export from BANK OF BARODA.
Import Finance
The import bills are collected through the 120 authorised branches at very
competitive rates. The Bank has correspondent relationship with reputed
International Banks throughout the world and can provide the services to
importers who may be importing from any part of the globe.
LETTER OF CREDIT:
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Bank of Baroda offers L/C facility for the purchase of goods in the
international market. Being a well-known international Bank of repute,
the L/Cs of the Bank of Baroda are well accepted in the International
market.
With the Letter of Credit of Bank of Baroda, importers can build up better
trust/ confidence in their suppliers and develop other business
relationship at a much faster pace.
The L/C facility can be granted to the importers after assessing their
requirement/ credit worthiness/ financial strength and other parameters
being to the satisfaction of the Bank.
BANK GUARANTEES:
EXPORT FINANCE
BOB offers both pre and post shipment credit to the Indian exporters
through Rupee Denominated Loans as well as foreign currency loans in
India.
Rupee export credit is available for a maximum period of -180- days from
the date of first disbursement. The corporate, if required can book
forward contracts in respect of future export credit drawls.
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EXPORT BILL REDISCOUNTING: BOB offers financing of export by way
of bill discounting of export bills to provide post shipment finance to the
exporters at competitive international rate of interest.
The export bills (both Sight and Usance) can be purchased/ discounted
provided they comply with the norms of the Bank/ RBI.
BOB provides PCFC in the foreign currency to the exporters enabling them
to fund their procurement, manufacturing/ processing and packing
requirements. These loans are available at very competitive international
interest rates covering the cost of both domestic as well as import content
of the exports. The PCFC can be availed in US$, Euro, GBP and Japanese
Yen.
The corporate/ exporters with a good track record can avail a running
account facility with the Bank for PCFC. To qualify for this purpose, the
exporter’s overdue bill should not exceed 5% of the average annual
export realization during the preceding -3- years.
ELIGIBILITY:
The corporate/ exporters having firm export orders or confirmed L/C are
eligible for PCFC, provided they satisfy other credit norms of the Bank.
FEATURES:
The forward covers can be booked in respect of future PCFC drawls. The
PCFC drawls are also permitted in cross currency subject to exporter
bearing the risk in currency fluctuations. The cross currency drawls are
restricted to US$. In case, the export order is in a non-designated
currency like Swiss Franc etc. PCFC will be given only in US$. For orders
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in Euro, Pound Sterling and JPY, PCFC can be availed in the respective
currencies or US$ at the choice of exporter.
Multi-currency drawls against the same orders, are not permitted due to
operational inconvenience.
ELIGIBILITY:
3. However, export firms making losses for the past three years or
having overdue export bills in excess of 10% of the previous years'
turnover are not eligible for Gold Card.
LIMITS
1. Based on the credit needs of the exporter appropriate limits for both
Pre-shipment/Post shipment will be sanctioned for a period of three
years subject to annual review of account.
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3. Norms for inventory may be relaxed in case of unanticipated export
orders, taking into account the size and nature of the export order.
RATE OF INTEREST:
1. Base Rate plus 0.75/1.00 % (as per internal credit rating) in case of
Rupee Credit or LIBOR plus 200 bps for FC export credit.
CONCESSION IN CHARGES:
TENOR:
4. The Gold Card will be issued for a period of three years and will be
renewed for a further period of 3 years unless any
adverse/irregularities are noticed. Norms for inventory may be
relaxed in case of unanticipated export orders, taking into account
the size and nature of the export order.
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EXPORT DOCUMENTATION
Export documentation is an essential feature of all international sales
transactions. It can be complex and its preparation laborious, yet
accuracy and exceptional attention to detail are required at all times.
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5. Exchange Control Documents
5.1 Exchange control declaration (F178)
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EXPORT CHART
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EXPORTER
PERFORMA
INVOICE
EXCISE BANK
INVOICE COPY
COMMERCIAL INVOICE
PACKING LIST
BILL OF EXCHANGE
IMPORT DOCUMENTATION
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The obligation to submit to customs documents covering
imported goods
An invoice
A bill of lading or a transport document issued in connection with
the transport of the goods; however when there is submitted a bill
covering freight charges or a notice from the transporter to the
consignee concerning a consignment of goods, and these
documents contain the same information as specified in regular bills
of lading, a bill of lading need not be submitted unless specially
requested,
A bill covering freight charges,
A certificate of origin when preferential customs treatment is
requested in accordance with international agreements to which
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Iceland is a party, unless a declaration of origin has been entered
on the invoice,
Other documents concerning the imported goods which are of
relevance to their customs treatment, e.g. an import license when
required, a confirmation of an authorization for special customs
treatment when such is the case, or other certificates required in
special circumstances.
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CONCLUSION
From the analysis it has been concluded that there is still huge
opportunity for BANK OF BARODA to grow. There are more customers
who can be a genuine customer of BOB and can include in the list.
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As Forex desk is limited to some Branch so it must be expanded in order
to get quicker and effective result.
Thus if some of its drawbacks are handled properly, it is sure that the
creditworthiness of Bank will increase tremendously.
REFERENCE
1. Miss Mona Jalal (marketing manager)
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www.managementparadise.com/.../export-import.../12155-export-import-documentation-
procedure.html
www.infodriveindia.com/...Export/Ch_17_Export_Documents.aspx
www.knovel.com/web/portal/browse/display?_EXT
http://www.bankofbaroda.com/
THANK YOU
BRIJAL RAVAL
NIS ACADEMY
AHMEDABAD
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