Regulatory Alerts2014-01-22
Added · Updated
FEPD Circular No. 04 : Advance payment against import
The limit for advance payments against imports without a repayment guarantee is increased from USD 2,500 to USD 5,000, applicable to all permissible imports. Authorized Dealers must ensure importers have no pending bills of entry or invoices beyond four months and that repayment guarantees are unobtainable from suppliers. Dealers are responsible for arranging remittance repatriation if goods do not enter the country within the stipulated time and must obtain a signed Form of Undertaking from the importer before effecting payment.
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