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Permitted Methods : Export payment must be received in a currency appropriate to the country of final place of destination of the goods as declared on GR. etc., forms. Reserve Rank has granted permission for receiving payments for exports directly by exporters from their buyers in certain conditions.
Authorised dealers should receive remitlances from foreign countries (other than Nepal and Bhutan) or obtain reimburseme from their branches and correspondents in these countries against payments due for exports from India. The other payments receivables should also conform these methods of payment indicated below:
i) All countries other than member countries in the Asian Clearing Union (except Nepal), Bangladesh, Myanmar Islamic, Republic of Iran, Pakistan and Sri Lanka : Payment may be received in rupees fiom the account of a bank situated in any country in this group or payment may be received in any permitted currency.
ii) Remember countries in the Asian Clearing Union (except Nepal), Bangladesh, Myanmar Islamic, Republic of Iran, Pakistan and Sri Lanka : payment may be received for all eligible current transactions of debit to the ACU (Asian Clearing Union) dollar account in India of a bank of the participating country in which the other party to the transaction is resident, or by credit to the ACU dollar account of the authorised dealer maintained with the correspondent bank in the other participating country. In other cases payment may be received in any permitted currency.
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Export of computer Software : Export of Computer Software in physical form is done on GRPP forms. Export of computer software in non-physical form should be declared on SOFTEX fo
Advance Licence: An advance licence is granted to a merchant exporter or manufacturer exporter for the import of inputs required for the manufacture of goods without payment of ba
Realisation of Export Proceeds: If an exporter does not realise the export proceeds within the time specified by the Reserve Bank of India, he shall be liable to action in accorda
RECENT DEVELOPMENTS IN EXPORT FINANCING: As stated earlier, offer of attractive credit terms is a crucial factor in winning export contracts. Hence, financial institutions are off
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