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of <h1>Exporters must ship within one year of receiving advance payment under Regulation 15</h1> Regulation 15 of FEMA Export Regulations 2015 governs advance payments received by exporters from overseas buyers. Exporters must ensure shipment within one year of receiving advance payment, with interest rates not exceeding LIBOR plus 100 basis points. Export documents must be routed through the authorized dealer handling the advance payment. If shipment cannot be completed within one year, refunds or interest payments require Reserve Bank approval. Exception exists where export agreements explicitly provide for shipment periods exceeding one year from advance payment receipt.
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