Regulatory Alerts2025-01-08
Added
Issuance of Bank Guarantee/Standby Letter of Credit on behalf of importer in favor of foreign suppliers
Authorized Dealers may furnish bank guarantees or standby letters of credit in favor of foreign suppliers on behalf of importers to facilitate the import of emergency goods or services by Government competent authorities and entities under the power and energy sector, subject to approval from the concerned ministry. When issuing these instruments, Authorized Dealers must ensure that the underlying import transaction is executed under sales-purchase contracts. All other relevant instructions on import trade remain unchanged.
Topics
credit
fx
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