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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.
Q. Prepare a Note for information of the Board of Directors on the reasons for declining sales of your Company's products for the quarter ending March 31, 2003? Ans. A p
Compliance with Laws: Every exporter or importer shall comply with the provisions of the Foreign Trade (Development and Regulation) Act, 1992. They will comply with the provisions
Export Claims: Authorised dealers are permitted to remit export claims by exporters on application by letter. The application contains particulars such as Reserve Hank Code Num
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Identify three or more of the secondary sources of information available to REI.
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