Read to understand what a BRC is and how it can help your Export Business.
4 minutes read
As an exporter, you understand that getting paid for your goods or services is just the start of a transaction. But to truly tap into the perks of your exports, you need to secure a BRC from DGFT (Directorate General of Foreign Trade). So, what does BRC stand for, you ask? Well, it’s a Bank Realisation Certificate; in other words, it’s a payment confirmation!
The BRC proves that you’ve received your dues and unlocks opportunities to claim benefits under the Foreign Trade Policy (FTP) and bring back those precious export proceeds. In this post, we’ll dive into the enchanting world of obtaining the Bank Realisation Certificate from DGFT. Buckle up, exporters, because we’ll take your export business to soaring heights! But before we unveil the BRC secrets, let’s ensure you know some BRC details.
A BRC, or Bank Realisation Certificate, is an important document given to exporters to show they received payment for the goods or services they sold to other countries. It’s like a receipt that proves they got paid.
Why is it so important? Well, having a BRC comes with some cool perks. It allows exporters to claim benefits and rewards from the government. Think of it as a way for the government to say, “Great job! Here’s something extra for your hard work!”
A BRC is a certificate that proves exporters got paid and gives them access to extra rewards from the government. It’s like a symbol of success and a way for exporters to be rewarded for their efforts.
The Procedure for Acquiring eBRC – Explained Step by Step:
Note: To ensure a seamless process, we kindly request exporters to obtain their eBRC within six months of receiving their payments. Failure to do so may result in undesirable repercussions.
Here’s how to access and upload your eBRC on the DGFT website, as well as use it as proof for export incentives:
While you claim benefits on your export transactions, don’t miss out on saving while receiving your international payments!
If you’re still using traditional methods of making international payments, such as wire transfers, PayPal, or conventional banking services, you are burdened with exorbitant fees and unfavourable exchange rates. These high transaction costs can eat into your export profits significantly, impeding the growth of your business.
Fortunately, Winvesta offers a solution that allows you to mitigate these expenses effectively. With our virtual multi-currency accounts, you can reduce transaction costs and enjoy a cost-effective alternative. Our virtual multi-currency account comes with its own US ACH, UK account number, Euro IBAN, and CAD receiving account. This allows you to receive payments from over 180 countries in over 34 currencies, with lower fees and quick conversion options. You can streamline your cross-border payments and enjoy cheap rates at just 0.99%
Obtaining a Bank Realisation Certificate (BRC) is crucial for export businesses as it validates payment receipts and enables claiming benefits under the Foreign Trade Policy. By acquiring an eBRC from the DGFT and leveraging this certificate, exporters can unlock rewards and maximize their export potential.
Additionally, Winvesta offers a comprehensive solution for cost-effective international payments. With virtual multi-currency accounts, exporters can reduce transaction costs, enjoy quick conversions, and streamline cross-border payments.
Open your Winvesta account today!