Regulation 4 - Payment for export in certain cases - Foreign Exchange Management (Manner of Receipt And Payment) Regulations, 2000

4. Payment for export in certain cases :- Notwithstanding anything contained in Regulation 3, payment for export may also be received by the exporter as under , namely: (i) in the form of a bank draft, cheque, pay order, foreign currency notes/travellers cheque from a buyer during his visit to India, provided the foreign currency so received is surrendered within the specified period to the authorised dealer of which the exporter is a customer ; (ii) by debit to FCNR/NRE account maintained by the buyer with an authorised dealer or an authorised bank in India ; (iii) in rupees from the credit card servicing bank in India against the charge slip signed by the buyer where such payment is made by the buyer through a credit card ; (iv) from a rupee account held in the name of an Exchange House with an authorised dealer if the amount does not exceed 2 [five lakh rupees or any such amount that Reserve Bank may stipulate] per export transaction ; (v) in accordance with the directions issued by the Reserve Bank to authorised dealers, where the export is covered by the arrangement between the Central Government and the Government of a foreign country or by the credit arrangement entered into by the Exim Bank with a financial institution in a foreign state. 1 (vi) in the form of precious metals i.e. gold/sliver/platinum equivalent to value of jewellery exported by Gem Jewellery units in Special Economic Zones and Export Oriented Units on the condition that the sale contract provides for the same and the value is declared in the relevant GR/SDF/PP forms. ************************* Note : 1. Added vide Notification No. 098/2003 dated 27/8/2003 2. Substituted vide NOTIFICATION No. FEMA 300/2014-RB , dated 28th March, 2014 w.e.f. 13th day of March 2014 , before it was read as, two lakh rupees .