Advance remittances for services: authorised dealers may permit higher payments subject to overseas bank guarantees and repatriation compliance. Authorised dealers may allow advance remittances for admissible current account imports of services up to an increased threshold without prior central approval. For advance amounts exceeding that threshold, a bank guarantee from a bank of international repute or an authorised dealer guarantee backed by an overseas counter guarantee must be obtained, and dealers must ensure contractual performance by the beneficiary or secure repatriation of the advance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Advance remittances for services: authorised dealers may permit higher payments subject to overseas bank guarantees and repatriation compliance.
Authorised dealers may allow advance remittances for admissible current account imports of services up to an increased threshold without prior central approval. For advance amounts exceeding that threshold, a bank guarantee from a bank of international repute or an authorised dealer guarantee backed by an overseas counter guarantee must be obtained, and dealers must ensure contractual performance by the beneficiary or secure repatriation of the advance.
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