PARA 4.15
- Document type
- Procedure
- Dated
- Category
- HB Vol.1 ( upto 31/03/2003)
Back to Back Inland Letter of Credit (LC)
4.15
The exporter may alternatively avail the facility of a back to back inland letter of credit from the banks. An Advance Licence holder and a DFRC holder , may approach a bank for opening an inland letter of credit (LC) in favour of an indigenous supplier.
(The amended para clarifies that a DFRC holder is eligible for getting a back to back inland letter of credit)
(Above para 4.15 has been amended vide PN No. 58/2002-07, Dt. 09/01/2003)
[OLD -
The exporter may alternatively avail the facility of a back to back inland letter of credit from the banks. An Advance Licence holder, except for DFRC holders, may approach a bank for opening an inland letter of credit (LC) in favour of an indigenous supplier.
(In above para bold sentence has been amended vide PN. No. 39/2002-07, Dt. 08/10/2002)]
The exporter may alternatively avail the facility of a back to back inland letter of credit from the banks. An Advance Licence holder and a DFRC holder , may approach a bank for opening an inland letter of credit (LC) in favour of an indigenous supplier.
(The amended para clarifies that a DFRC holder is eligible for getting a back to back inland letter of credit)
(Above para 4.15 has been amended vide PN No. 58/2002-07, Dt. 09/01/2003)
[OLD -
The exporter may alternatively avail the facility of a back to back inland letter of credit from the banks. An Advance Licence holder, except for DFRC holders, may approach a bank for opening an inland letter of credit (LC) in favour of an indigenous supplier.
(In above para bold sentence has been amended vide PN. No. 39/2002-07, Dt. 08/10/2002)]