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<h1>Advance payment against exports: conditions require timely shipment, LIBOR linked interest cap, and authorised dealer routing.</h1> Exporters receiving advance payments must ensure shipment within one year, cap interest at LIBOR plus 100 basis points, and route shipment documents through the authorised dealer who received the advance; refunds or interest remittances after that period require Reserve Bank approval unless the export agreement expressly provides for shipment beyond the one-year period.