Forfeiting of advances

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....orfeiting of advances<br> Query (Issue) Started By: - SANJIV KOTHARI Dated:- 20-3-2013 Last Reply Date:- 20-3-2013 Customs - Exim - SEZ<br>Got 1 Reply<br>Customs<br>Dear We have received export advan....

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....ce from one of Iranian customer for supply of goods. Now customer does not want to take delivery and release balance payment. Can we forfeit advance so received. Advance was received through UCO bank....

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.... in INR. Please let know if some one has idea to dealt such situation. Reply By Pradeep Khatri: The Reply: Please refer Master Circular No. 14/2012-2013 dated 02-07-2012 in this regard. Further, fo....

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....rfeiting of advance payment would depend on your contract terms and conditions.<br> Discussion Forum - Knowledge Sharing ....