A Bank Realisation Certificate, or BRC, is a document that confirms that an exporter has received the payment from an overseas buyer. It is issued by the bank through which the transaction is made, serving as proof that payment due for the shipped goods has been made.
BRCs actually offer great benefits to exporters under export promotion schemes of the government, including duty drawback and MEIS/RoDTEP. The document also links the payment and the invoice of the exported goods, making it easier to identify and recheck the trade.
How It Works:
- Exporters ship goods or provide services abroad.
- Overseas buyers make the payment.
- The bank receives and processes the payment.
- The bank records the export proceeds.
- BRC or electronic realisation records are made available as applicable.
Benefits:
- Confirms receipt of export payment
- Supports export compliance
- Helps with export benefit claims
- Provides a record of realised export proceeds
Example:
An Indian exporter receives payment from a UAE buyer for an export shipment. The bank records the payment and provides the applicable BRC/electronic realisation record to confirm the export proceeds.