Regulatory Alerts2021-10-03
Added
Direct dispatch of export documents by exporters
Authorized Dealers may allow exporters to dispatch export documents directly to importers or their agents abroad through secured media, provided the underlying sales contracts or letters of credit permit this practice. This authorization excludes original transport documents of title to cargo and requires that Authorized Dealers are satisfied with the arrangement for realizing export proceeds within the statutory period, that the exporters' accounts comply with KYC/AML/CFT guidelines, and that the EXP Form is obtained within 14 days of shipment. For exports with full advance payment, documents may also be dispatched directly, but Authorized Dealers must obtain relevant export documents to adjust the advance payment against related exports.