Export payment security may be mandated to ensure timely receipt via payment instruments and prior authorised dealer approval. The Reserve Bank may direct exporters, before export, to secure payments by an irrevocable letter of credit or other specified arrangements; require that declarations be submitted to the authorised dealer for prior approval, which may be granted, withheld or conditional; and require submission of a copy of the declaration to a designated certifying authority to verify declared export value. No such direction shall be issued, nor approval withheld, without giving the exporter a reasonable opportunity to make representations.