Export of Goods and Services - Payments of Claims by Insurance Companies-Write off

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....ts of Claims by Insurance Companies-Write off Attention of Authorised Dealer (Category - I) banks is invited to A. P. (DIR Series) Circular No.22 dated September 24, 2003, in terms of which AD banks were permitted to write off the export bills and delete them from the XOS statement in respect of outstanding export bills where claims were settled by ECGC. 2. Reserve Bank has received represen....

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....e claim in respect of the outstanding export bills has been settled and that the export incentives, if any, have been surrendered, write-off the relative export bills and delete them from the XOS statement. Such write-off will not be restricted to the limit of 10 per cent indicated in paragraph C 18(b) of the A. P. (DIR Series) Circular No.12 dated September 9, 2000. 4. It is clarified that the....