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Advance Remittance for Imports

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....e Madam/Sirs, Advance Remittance for Imports Attention of Authorised Dealers is invited to paragraph A.6 of the Annexure to A.P. (DIR Series) Circular No.106 dated June 19, 2003 in terms of which authorised dealers have been permitted to make advance remittance upto USD 100,000 (USD one hundred thousand) or its equivalent without Bank Guarantee for import of goods into India. 2. With a....

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....s suppliers and the Authorised Dealer is satisfied about the track record and bonafides of the importer, the requirement of the bank guarantee/ standby Letter of Credit may not be insisted upon for advance remittances upto USD 1,000,000 (US dollar one million). Authorised Dealers may frame their own internal guidelines to deal with such cases as per a suitable policy framed by the bank's Board....

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