Transfer of Documents: authorised dealers must obtain constituent declaration before negotiating export shipping documents, making signatory the exporter. Regulation 11 permits an authorised dealer to accept shipping documents for negotiation or collection from a constituent who has not signed the Regulation ... Summary
Foreign Exchange Management (Export of Goods And Services) Regulations, 2000
Transfer of Documents: authorised dealers must obtain constituent declaration before negotiating export shipping documents, making signatory the exporter.
Regulation 11 permits an authorised dealer to accept shipping documents for negotiation or collection from a constituent who has not signed the Regulation 3 declaration, provided that before acceptance the dealer requires the constituent to sign the declaration where the declared value either equals or is less than the value shown in the documents; upon signing the constituent is treated as the exporter for the full value and is governed by these Regulations.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.