Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 37
April 12, 1994 

AAll Authorized Dealers
In Foreign Exchange,

Dear Sirs,


It is advised that the existing para 23 Chapter XII of the Foreign Exchange Manual (7th Edition, 1992) may be substituted by the following:-

"Advance remittances against Exports:

In case of advance remittance received for goods to be exported from Pakistan, Authorized Dealers should obtain a Certificate in duplicate from the beneficiary on the Advance Payment Voucher (App. V-18) declaring the particulars of the intended export before disabusing the amount to him. Both copies of the Advance Payment Voucher shall be authenticated by the Authorized Dealer. Original Advance Payment Voucher will be surrendered to State Bank of Pakistan through Schedule A-2 while the duplicate shall be returned to the exporter for production at the time of certification of Form 'E'. The Authorized Dealer which has disbursed the amount, shall ensure that Form 'E' is certified for export strictly in accordance with the declaration made in the Advance Payment Voucher within a period not exceeding one year of receipt of advance payment and particulars of Form(s) 'E' viz. Dated of Certification, value for which Form 'E' certified and progressive unutilized balance (where more than one Form 'E' are certified) shall be endorsed on the original Proceeds Realization Certificate which alongwith duplicate Advance Payment Voucher / Bank of Pakistan under a covering letter. In cases where more than one shipments have to take place, photo copies of Proceeds Realization Certificate / Advance Payment Voucher taken after endorsements as aforesaid shall be surrendered with the relative triplicate Form 'E' and the original Proceeds Realization Certificate / duplicate Advance Payment Voucher in original shall be surrendered alongwith the last Form 'E'."

2. The above may please be brought to the notice of your constituents.


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