8B.10
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Remittances towards Dry-docking
Remittances towards Dry-docking, Repairs to Ships, Survey fees and Purchases of Spares
(i) Indian shipping companies are allowed to meet the expenditure of dry-docking,repairs to ships, payment of survey fees as also purchase of spares abroad from their foreign currency accounts permitted to be maintained by Reserve Bank [See paragraph 12.5(i)] or remit them from India through authorised dealers. Authorised dealers may allow remittances towards the aforesaid expenditure if application is submitted by the company on form A2 together with the documentary evidence such as invoice/bills etc. in support of the expenses incurred/to be incurred.
(ii) Application for remittance from India for other purposes such as solicitors fees or average adjustors fees may be allowed by authorised dealers subject to the conditions mentioned in item V of Part B of Annexure I.