All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

IMPORT OF GOODS ON C&F(FREE OUT BASIS)
UNDER CHARTER PARTY BILLS OF LADING

In terms of para 6 of F.E. Circular No.38 dated the 24th July, 1980, opening of letters of credit on C&F (Free out) basis requires prior approval of the Control. It has since been decided that the Authorized Dealers may henceforth open letters of credit on C&F (Free out) basis and accept Charter Party Bills of Lading claused to this effect. However, prior permission of the Control shall continue to be obtained in respect of import of sugar and food grains (cereals) on C&F (Free out basis).