Foreign Exchange Management Act, 1999 – Export of Goods and Services - Forwarder’s Cargo Receipt .

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..... Attention of Authorized Dealers is invited to A.P. (DIR Series) Circular No. 27 dated March 2, 2001, in terms of which they may accept Forwarder s Cargo Receipts (FCR) issued by IATA approved agents, in lieu of bill of lading, for negotiation / collection of shipping documents, in respect of export transactions backed by letters of credit, only if the relative letter of credit specifically pro .....

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..... n, also accept FCR issued by Shipping companies of repute/IATA approved agents (in lieu of bill of lading), for purchase/discount/collection of shipping documents even in cases, where export transactions are not backed by letters of credit, provided their 'relative sale contract' with overseas buyer provides for acceptance of FCR as a shipping document in lieu of bill of lading. However, the accep .....

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