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<h1>Project Exports Demand Prior Approval for Deferred Payments and International Performance Guarantees Under Regulation 17</h1> Regulation 17 of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015 governs project exports involving deferred payment terms or turnkey projects. Exporters must obtain prior approval from the designated authority before entering export arrangements. The regulation allows authorized dealers or export companies to issue guarantees for project performance or credit facilities outside India, subject to specific contract stipulations. The EXIM Bank of India or authorized dealers serve as the approving authority for such export transactions.