Shri N. K. Khanna, AGM, SBI Factoring & Commercial Services Ltd. made a presentation on “Factoring”. Factoring is an arrangement between a financial institution and a business concern selling goods or services to trade customers whereby the factor purchases the client's book debts either with or without recourse to the business customers and in relation thereto controls the credit extended to the customers.
He pointed out that the factoring services are free from hassles of acceptance of bill of exchange and it is a cost effective substitute for bank guarantee, Letter of Credit, advance payment, etc.
A presentation was also made by Shri Israni, Sr. Manager and Shri Hande, Asstt. Manager, ECGC Ltd. on various available ECGC Schemes from which the exporters can benefit.
The presentation highlighted the risk coverage, percentage of cover, period of coverage, etc of various policies like Shipment Comprehensive Risk (SCR) Policy, Small Exporters Policy, Exports Turnover Policy, Specific Shipment Policy Short Term (SSP-ST), Buyer Exposure Policy, Consignment Exports Policy, IT-Enabled Services Policy, etc.
The Seminar ended with an interactive session during which the panel of experts clarified the queries raised by the exporters on hedging, factoring, forward contracts, ECGC Policies, etc.
The Synthetic & Rayon Textiles Export Promotion Council
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