Please
refer to SMFED Circular Letter No.03 dated December 30,
2008 on the above subject.
2.
In this connection it has been decided as under:-
a)
One time waiver for 90 days allowed for the purpose of
availing financing under EFS to all exporters whose export
proceeds were overdue as on December 30, 2008, valid upto
end of March, 2009 has been extended upto June 30, 2009.The
exporters whose export proceeds are overdue will now be
allowed to avail financing facility under EFS upto June
30, 2009.
b)
Further, this waiver will also be applicable in case of
the exporters who have subsequently shipped additional
consignments to the same importer or its associated company
from whom export proceeds were overdue. However, this
relaxation will not be allowed where the payment in respect
of shipments has been stuck up on account of discrepant
documents, or failure of the exporter to ship the goods
in accordance with the requirements of the importer, provided
shipments so made and discrepant documents so sent have
been accepted by the importer abroad.