Attention of Authorized Dealers is invited to F.E. 20 dated 9th June, 1998 enclosing therewith Notification No. FE. 1/98-SB dated 8th June, 1998 in terms of which Exporters were required to repatriate export proceeds on due date for payment of within four months from the date of shipment whichever is earlier.

2. It has now been decided that as an exception to the above general rule Authorized Dealers may certify 'E' Forms in connection with exports to South America providing for repatriation of export proceeds upto a period of 180 days in case a letter of credit for 180 days sight/usance is received from South America.

3. Other instructions on the subject shall remain un-changed.