third party payment againt export

[Mukund Thakkar]

Dear Team,

on of my client frequently received export payments thru third party. which has allowable and what is the implication as per FEMA. any procedure to regularized. the payments because bank is asking no brc is loaded due to this transaction. please advise if possible urgently.

AI Summary

Third-party export payments must be declared in the export declaration to permit realization of export proceeds under FEMA rules.
Export proceeds received from a third party are permissible only if the exporter duly declares such realization in the appropriate export declaration form; Regulation 3 was amended to require this declaration for goods or software, and Regulation 16 was revised to require that advance payments be from the buyer or third party named in the export declaration, with the amendments given retrospective effect from November 8, 2013 without adversely affecting any person.