6C.4
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Transfer of Documents
Authorised dealers may accept from their constituents for negotiation or collection,shipping documents covering exports even where the original declaration on GR forms had been signed by some other party provided the constituent drawing the bill countersigns on the duplicate copy of GR form, the undertaking to deliver to the authorised dealer the foreign exchange proceeds of the shipment within the prescribed period. In case the constituent exporter is one who is placed on exporters caution list by Reserve Bank, authorised dealer may negotiate the documents provided the shipment is covered by advance remittance or by irrevocable letter of credit where the documents conform strictly to the terms of the letter of credit.