What do you mean by pre-shipment finance? Enumerate the methods of preshipment finance. Describe the procedure of pre-shipment credit in foreign currency. 

Pre-shipment / Packing Credit also known as ‘Packing credit’ is a loan/ advance granted to an exporter for financing the purchase, processing, manufacturing or packing of goods prior to shipment. Packing credit can also be extended as working capital assistance to meet expenses such as wages, utility payments, travel expenses etc; to companies engaged in export or services. Packing credit is sanctioned/granted on the basis of letter of credit or a confirmed and irrevocable order for the export of goods / services from India or any other evidence of an order for export from India.

1. Extended Packing Credit Loan

Banks offer Extended Packing Credit loans to clients who have a good credit history. The term of repayment goes beyond the regular 180-day period.

2. Secured Shipping Loans

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