Regulation 18 - Project exports - Foreign Exchange Management (Export of Goods And Services) Regulations, 2000

1 [18. Project exports Where an export of goods or services is proposed to be made on deferred payment terms or in execution of a turnkey project or a civil construction contract, the exporter shall, before entering into any such export arrangement, submit the proposal for prior approval of the approving authority, which shall consider the proposal in accordance with the guidelines issued by the Reserve Bank of India from time to time. Explanation: For the purpose of this Regulation, 'approving authority' means the EXIM Bank of India or the authorised dealer ] ------------------------ Notes:- 1. Substituted vide NOTIFICATION No. FEMA. 310/2014-RB, dated 12th June, 2014 , before it was read as, 18. Project exports Where an export of goods or services is proposed to be made on deferred payment terms or in execution of a turnkey project or a civil construction contract, the exporter shall, before entering into any such export arrangement, submit the proposal for prior approval of the approving authority, which shall consider the proposal in accordance with the guidelines issued by the Reserve Bank from time to time. Explanation: For the purpose of this Regulation, 'approving authority' means the Working Group or the Exim Bank or the authorised dealer