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