Advance payment rules for exports and imports require routing through the same authorised dealer and compliance with interest ceilings. Advance payments for exports and imports must be routed through the same Authorised Dealer unless both old and new dealers are notified; Authorised Dealers may allow advance import remittances after verifying genuineness and may require standby Letters of Credit or guarantees beyond specified limits. Interest on advances or delayed payments must not exceed the prescribed all in cost ceiling for trade credit. Importers unable to import within agreed periods must repatriate advances or face conditions for future advances, and exporters receiving advances must comply with shipment timelines, document routing, reporting to the export monitoring system, and interest benchmark limits.
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Provisions expressly mentioned in the judgment/order text.
Advance payment rules for exports and imports require routing through the same authorised dealer and compliance with interest ceilings.
Advance payments for exports and imports must be routed through the same Authorised Dealer unless both old and new dealers are notified; Authorised Dealers may allow advance import remittances after verifying genuineness and may require standby Letters of Credit or guarantees beyond specified limits. Interest on advances or delayed payments must not exceed the prescribed all in cost ceiling for trade credit. Importers unable to import within agreed periods must repatriate advances or face conditions for future advances, and exporters receiving advances must comply with shipment timelines, document routing, reporting to the export monitoring system, and interest benchmark limits.
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