Limit for payment of agency commission on exports - reg

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..... orters appoint agents abroad for securing their export contracts and such agents are paid agency commission as a percentage of the f.o.b. value by the Indian exporters. For various Export Promotion Schemes including Duty Drawback and DEPB, the f.o.b. value is reckoned for granting the export benefits. In terms of the Policy Circular No.55(RE-98) 98-99, da .....

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..... d even 50% of the f.o.b. value. Doubts have arisen in the minds of the field officers whether in the wake of Circular No. 12, dated 9.9.2000, issued by the RBI, the limit of 12.5% of the f.o.b. value regarding payment of agency commission is superseded. 4. The issue has been examined in the Board. It is observed that RBI has not revised its earlier i .....

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