Advance remittance conditions: banks must obtain guarantees, conduct due diligence and require evidence of import before permitting remittances. Master Circular directs AD Category I banks to ensure imports comply with Foreign Trade Policy and FEMA, apply KYC/AML, obtain and preserve requisite import documentation (including Exchange Control copies of Bills of Entry), and to follow prescribed time limits and reporting obligations. It prescribes conditions for advance remittances and when guarantees or standby LCs are required, sets sectoral relaxations and documentation substitutes for certain importers, and requires follow up, verification, acknowledgement and retention of import evidence along with specified half yearly and monthly reporting duties.