A Bank Realisation Certificate (BRC) is issued by a bank as proof that an exporter has received payment from an importer for exported goods.
Here's a breakdown of what that means:
- Purpose: A BRC serves as official documentation confirming that an exporter has received payment for goods they have shipped to a foreign buyer.
- Issuing Authority: Banks are the entities responsible for issuing BRCs.
- Exporter's Responsibility: Exporters must report the value of their intended exports to the bank. This information is likely used in conjunction with payment receipts to generate the BRC.
In summary, a Bank Realisation Certificate is a key document in international trade, facilitating verification of export proceeds.
