Get the free Agreement for packing credit - South Indian Bank
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LD/1153 (To be stamped as an agreement) CREDIT FACILITY AGREEMENT (FOR PACKING CREDIT) BETWEEN Insert the name of the Borrower AND THE SOUTH INDIAN BANK LTD Amount Rs. This forms part of the Agreement
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How to fill out agreement for packing credit
How to fill out agreement for packing credit:
01
Gather all necessary information and documentation, such as the name and address of the party providing the packing credit, the name and address of the party receiving the packing credit, and details of the packing credit arrangement.
02
Clearly specify the purpose of the packing credit, whether it is for the purchase of raw materials, packaging materials, or for other specific purposes related to packing and shipping goods.
03
Specify the amount of packing credit required and the currency in which it will be provided. Include details about the interest rate, repayment terms, and any collateral or security required for the credit.
04
Clearly define the rights and obligations of both parties involved in the agreement, including terms related to the utilization of the packing credit, the responsibility of the borrower to provide sufficient documentation and evidence for the credit, and the liability of the parties in case of default or non-compliance.
05
Include provisions related to the inspection and verification of the goods being packed, as well as any specific requirements for labeling, packaging standards, or quality control measures that must be adhered to.
06
Outline the consequences of non-compliance or breach of the agreement, including penalties or legal actions that may be taken by either party.
Who needs agreement for packing credit?
01
Exporters or businesses involved in international trade who require funding for the packing and shipping of goods can benefit from a packing credit agreement.
02
Importers who require financial assistance for packing and shipping costs associated with the import of goods can also enter into a packing credit agreement.
03
Banks or financial institutions providing packing credit facilities to businesses or individuals may also require an agreement to ensure proper documentation and legal protection for both parties involved.
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What is agreement for packing credit?
Packing credit refers to a pre-shipment finance provided by a bank to an exporter for the purchase of raw materials, processing, manufacturing, packaging, and transportation of goods.
Who is required to file agreement for packing credit?
Exporters who require financial assistance in advance of shipment are required to file an agreement for packing credit.
How to fill out agreement for packing credit?
Agreement for packing credit can be filled out by providing details of the export order, amount of credit required, terms of repayment, and other relevant information as requested by the bank.
What is the purpose of agreement for packing credit?
The purpose of agreement for packing credit is to facilitate smooth export of goods by providing financial assistance to exporters for various pre-shipment activities.
What information must be reported on agreement for packing credit?
Information such as export order details, amount of credit required, terms of repayment, security provided, and other relevant details must be reported on agreement for packing credit.
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