Submission of Export shipping documents with bank, Return of documents to exporters, Landlocked countries - The procedures of Exporter's Bank.
According to Reserve Bank of India update as on 08th January 2021, the directions on How does exporter's bank treat, if delay in submission of shipping documents occurs is given below:
C.7 Delay in submission of shipping documents by exporters
In cases where exporters’ present documents pertaining to exports after the prescribed period of 21 days from date of export, AD Category – I banks may handle them without prior approval of the Reserve Bank, provided they are satisfied with the reasons for the delay.
C.8 Return of documents to exporters
The duplicate copies of EDF and shipping documents, once submitted to the AD Category – I banks for negotiation, collection, etc., should not ordinarily be returned to exporters, except for rectification of errors and resubmission.
C.9 Landlocked countries
AD Category – I banks may deliver one negotiable copy of the Bill of Lading to the Master of the carrying vessel or trade representative for exports to certain landlocked countries if the shipment is covered by an irrevocable letter of credit and the documents conform strictly to the terms of the Letter of Credit which, inter alia, provides for such delivery.
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