Advance payment conditions: exporters must meet shipment time limits, interest capped above benchmark, documents routed via authorised dealer. Advance payments from foreign buyers require the exporter to ship within three years, cap interest at LIBOR plus 100 basis points (or other RBI directed benchmark), and route shipment documents through the authorised dealer who received the advance; refunds or interest payments after the three year period need prior Reserve Bank approval, while export agreements may validly provide for shipment beyond that period.