Electronic Bank Realisation Certificate

Are you a newbie in the international import-export business? If yes, you should learn about the significance of the Bank Realisation Certificate (BRC). BRC is an official certificate that exporters receive from their respective banks as a confirmation of payment clearance from their importers.

Yes, back in the day when banking operations were not online, this document was known as BRC in the international market. But now that we perform most of the trading operations online.

You will receive the Electronic Bank Realisation Certificate (eBRC) document from your bank every time an importer settles your payment. But how can you get it for your business?

As a budding exporter, you need to learn how to get and view the realization certificate. It is also crucial to understand what is the purpose of this document and how you can use it in your business.

In general, traders think of the eBRC certificate as mere proof of payment. But once you understand the importance of this document, you will discover its usage. Let us know how you can get it easily from the bank. And if you have any further queries, click here to know more.

The Purpose of eBRC Certificate For Exporters

The eBRC certificate will majorly serve you two purposes. And since these factors are essential for your business, you must ensure zero error in the processing. Here is what you can do with your realisation certificate.

Proof of Payment

The certificate serves as proof of payment to you and the importer, as the bank exclaims having received the payment using this document. You can keep this document as finalisation of settled accounts!

Helps Avail of Export Incentives

If you have exported goods that fall under the predefined categories of incentives as mentioned in the Foreign Trade Policy, you need the realisation certificate to claim the incentive. Your bank will upload the file on the DGFT (Directorate General of Foreign Trade) portal.

Ways In Which The eBRC Certificate Works

Once your importer clears his dues to your specified bank account, your bank will generate the eBRC document. Then your bank’s staff would download the XML file, sign it digitally and upload it on the DGFT website.

The amount mentioned in this certificate will be equal to the INR value of the foreign currency you have received in the account. This calculation is what you need to check in the document.

Once the XML file of your certificate is online, the DGFT website accepts and acknowledges the document to be active. Now, you will be able to view and print the document as per your requirement.

How To View & Print The Document

To view your eBRC document of a freight shipment, follow the given steps or take the help of your service provider.

  • Visit the official website of DGFT and go to the Services-eBRC tab/panel. There, click on the “View & Print eBRC option”.
  • The site will direct you to a page named “e-BRC Details For Trade”. Here you need to enter your bank’s IFSC code and IEC Code.
  • Once done, click on the “show details” tab. If your bank has uploaded your document on the site, it will appear. Click on the print button to get your document.

Actions To Take In Case of Any Error

If there appears to be an error in the document, you must not do anything to the document. Do not print it. You should:

  • Contact your bank for rectification. Once the bank responds, the site will show a “C” written on the document.
  • Wait for the DGFT site to accept the cancellation request. Once done, your bank can upload the rectified document with the status “F”.

Factors To Consider Related To The Document

Since the major purpose of the bank eBRC document is to help you get the export incentives that the government offers, here are a few things you must consider while acquiring the document.

  • The government calculates incentives either on the realised amount as per the certificate or the FOB (Free On Board) value given in the Shipping Bill, whichever is less.
  • You must check the realisation certificate carefully before applying for incentives to account for errors.
  • The BRC does not include the details related to insurance, commission and freight, but you need these to get the incentive, so mention the values separately.
  • You cannot deduct the bank’s commission details present in the document. Precisely, you must not change anything in the document unless there is an error.

All this information will help you look at the need for an eBRC certificate differently now. As an exporter, you can avail of any incentives from the Indian government if you trade under the predefined categories. And if you take the help of an experienced service provider, this task will seem much easier!

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