RBI Master Direction on export of goods and services states that ECGC claims are not treated as realisation and so, BRC cannot be issued. While writing off bills on the basis of ECGC claims and closing my shipping bill in EDPMS, the bank wants me to surrender export incentives, whereas HBP states that ECGC claims can be considered for claiming export incentives. Under which conditions can ECGC claims be considered for availing export incentives, so that without I can get my shipping bill closed in the EDPMS without surrendering incentives? Para C.24 of the RBI Master Direction no.16/2015-16 dated January 1, 2016 (as amended), deals with write-off in cases of payment of claims by ECGC and private insurance companies regulated by Insurance Regulatory and Development Authority of India. It clearly says that surrender of incentives, if any, in such cases will be as provided in the Foreign Trade Policy (FTP). So, your bankers must proceed in accordance with Para 2.85 of HBP and not demand surrender of incentives.