Question

What does the term "Crystallisation of an Export Bill" fundamentally mean in trade finance and international banking?

A Converting a domestic Rupee loan into a foreign currency pre-shipment credit
B The conversion of an overdue foreign currency export bill into a Indian Rupee (INR) liability when the overseas buyer fails to pay on the due date
C Writing off the foreign currency export bill as a non-performing asset immediately on its due date
D Extending the credit period of a foreign currency bill at concessional interest rates
E Transferring the exporter’s liability directly to the Reserve Bank of India
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