Archive : Finance

The approved method of payment both in respect of exports and imports to/from the members of the Asia Clearing Union is Asian Currency Unit.  This annexure provides the regulations relating to dealing with Asian Clearing Union by the authorized dealers.   The Asian Clearing Union (ACU) is an effort towards securing regional co-operation amongst the members of the United Nations, Economic and [...]

All the financial requirements of an exporter, from the time he enters into a sale contract and starts working on it and till he receives final payment from the importer, are met by commercial banks.  The facilities available from banks are generally divided into two broad heads: 1 Pre-Shipment Finance and 2 Post-Shipment Finance   1 Pre-shipment Finance or packing credit is the advance granted [...]

The statutory basis for regulation of exports from India is the Foreign Trade (Development and Regulation) Act, 1992, which has replaced the Imports and Exports (Control) Act, 1947.  The Government is empowered to ban the export of certain goods from India and/or restrict export in quantity, value, etc., by subjecting them to licensing procedures.   In exercise of the powers conferred under [...]