6B.3
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Exports by Air
In the absence of negotiable shipping documents in case of air consignments, exporters sending goods by air run the risk of losing value of goods, if they are consigned directly to overseas buyer/consignee and not to the overseas branch/correspondent of an authorised dealer, except where they are covered by irrevocable letter of credit opened by buyer for the full value of the goods or payment towards the full value of the goods has been received in advance. Exporters will, therefore, be well advised to consign the goods in such cases to the concerned overseas branch/correspondent of the authorised dealer through whom shipping documents will be forwarded for collection, to enable the latter to instruct the overseas branch/correspondent to arrange for issue of delivery order in favour of buyer on payment or acceptance of bill drawn by the shipper.