EXCHANGE CONTROL GUIDELINES FOR IMPORT and EXPORT in INDIAThe following guidelines have to be followed while negotiating the documents by banks as well as exporters in drawing the documents.

(a) Documents through Authorised dealer All documents relating to exports have to be routed through the authorised dealer. The documents are allowed to be sent to the buyer, directly, only with the approval of RBI, provided advance payment has been received for full value of the consignment.

(b) Realization through Authorised dealer Payment against exports should be realised through authorised dealer of foreign exchange. Exporter is not allowed to receive the payment directly from the buyer in the form of cheque, draft, currency, foreign currency traveler cheque, unless permitted by RB and to the extent allowed.

(c) Payment within six months

Usance bills should not be drawn for more than six months. Exporter should obtain prior approval of RBI to extend credit for more than six months.

(i) Drawal of Invoice and bill of exchange: Invoice and Bill of Exchange should be drawn for the amount of shipment declared in GR/SDF/PP forms.

(ii) Change of Buyer: The exporter can change the buyer. In such circumstances, fresh Bill of Exchange has to be drawn on the new buyer even for a reduced value of invoice.

iii) Presentation of Shipping Documents: Shipping documents should be presented to the banker for negotiation within 21 days from the date of shipment. If the documents are presented with delay, exporter has to produce necessary documentary evidence as proof for delay. If the evidence is satisfactory, then only bank negotiates the documents.

(d) Export of jewellery In case of export of jewellery, GR form is to be countersigned, in advance, by the authorised dealer. In such a case, documents are to be negotiated within five days from the ate of countersignature.


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sumesh: I would to have more information regarding MSME bank charges for exporter. We do exports of vegetables by air cargo with 30 days credit to customer. After 30 days customer sends money to bank. Previous Forex Service Bank Charges ...not applicable from 1st Sep 2019. 8. For each complete set of Export documents sent by the eligible exporter directly to Overseas buyer/Overseas Bank in terms of extant FEMA guidelines and documents given to us for lodgement, marking off funds, reporting to RBI, marking off Shipping Bill etc. As per the new export Forex Service charges ie bill lodgement charges , marking off shipping bills in RBI, ie, reporting purpose. is not mentioned anywhere ??? Is it waived off? 250719-PROPOSED EXPORT TRANSACTIONS RELATED SERVICE CHARGES.pdf Clarify section 5b purpose? Is it applicable to my business?] Clarify section 8 . What does realisation of Export Bills mean? Does it mean marking off bills and lodging to RBI EDPMS? Inward or Outward Remittances related to Export (including realisation of Export Bills) We need updated information through one of the SBI Forex Trade offices with official email clarification.

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