7A.25
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Legal Expenses Connected with Imports
Authorised dealers may effect, on behalf of their importer constituents, remittances towards legal expenses relating to import transactions subject to submission of suitable documentary evidence and satisfying themselves about the chances of success of the case by calling for legal opinion and an estimate of the total likely expenses to be incurred to satisfy themselves with the reasonableness of the charges. However, where the amount of remittance exceeds U.S.$ 100,000 or its equivalent, full details of such remittances should be reported to Reserve Bank on a quarterly basis.