Regulation 10 - Export on Elongated Credit Terms - Foreign Exchange Management (Export of Goods And Services) Regulations, 2000

10. Export on Elongated Credit Terms :- No person shall enter into any contract to export goods on the terms which provide for a period longer than 2 [nine months] for payment of the value of the goods to be exported: Provided that the Reserve Bank may, for reasonable and sufficient cause shown, grant approval to enter into a contract on such terms. ****************** Notes : 1. For the words six months , the words twelve months has been substituted vide Notification No. 176/2008-RB dated 23/7/2008 2. Substituted vide NOTIFICATION 302/14 dated 28th April, 2014 w.e.f. 1st day of April, 2013 , before it was read as, 1 twelve months.