Advance payment for long term exports permitted by banks subject to KYC, AML, bona fide use, and interest cap. Authorised Dealer Category I banks may accept advance payment for exports involving shipment beyond one year if they complete KYC and due diligence on the overseas buyer, ensure anti money laundering compliance, verify that advances are used solely for executing the export, receive progress payments directly per contract, route shipping documents through the same authorised dealer, apply an interest cap linked to LIBOR, limit refund instances, and obtain prior regulatory approval before making refunds or interest payments when shipment cannot be made.