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Import factoring is a financial service that enables you to purchase goods from your overseas supplier on short term credit of upto 180 days on open account terms without the need for opening a letter of credit (LC).
As an importer, you will receive credit from your overseas suppliers without incurring any additional cost charged to a factor like SBIGFL. Your primary obligation would be to make payment to the Factor on the due date.
WHAT IMPORTS CAN BE FACTORED?
As Import Factoring covers imports upto 180 days, generally import of raw materials and intermediates can be covered. |
