Regulatory Alerts2018-04-15
Added · Updated
Use of balances held in single pool for 30 days
Authorized Dealers must allow exporters to use unencumbered balances retained in a single pool for up to 30 days to meet import payments for the exporters' subsidiaries or sister concerns, subject to the instructions in paragraph 28(A)(ii), chapter 13 of GFET. This amendment relaxes previous restrictions under paragraph 42(ii), chapter 7 of GFET-2018, which previously limited such retention solely to settling the exporter's own import payments. The instructions are effective immediately.
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