Third party payments for export / import transactions

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..... r No.70 dated November 8, 2013 , in terms of which they have been permitted to allow third party payments for export of goods software / import of goods subject to the conditions stated therein. 2. In view of the difficulties faced by exporters / importers in meeting the condition firm irrevocable order backed by a tripartite agreement should be in place specified in the abovementioned Circu .....

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..... I banks may bring the contents of this Circular to the notice of their constituents concerned. 6. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (C. D. Srinivasan) .....

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