06 March 2021
Please suggest, we have import goods through FedEx from China. Payment made to our china client.Client give the shipment to there courier agent. FedEx file BOE on the name of courier agent. Now Indian bank reject BRC.
06 July 2024
If your Indian bank is rejecting the Bank Realization Certificate (BRC) due to the Bill of Entry (BOE) being filed in the name of the courier agent instead of your company's name, here are some steps you can take to resolve this issue:
1. **Contact FedEx and Courier Agent:** - Reach out to FedEx and the courier agent who handled the shipment. Explain the situation and request them to assist in resolving the issue with the BOE. - Request FedEx and the courier agent to re-issue the BOE in the name of your company, "SAKAR ENGINEERS", to match the payment details and ensure alignment with the import transaction.
2. **Provide Documentation:** - Provide all necessary documentation to FedEx and the courier agent, including proof of payment, invoices, and any other relevant documents that verify the transaction and your ownership of the imported goods. - Ensure that these documents clearly show the transaction details between your company and the China client, including the correct entity names and payment information.
3. **Follow up with Indian Bank:** - Communicate with your bank again and inform them of the steps you are taking to correct the issue with the BOE. - Provide the updated documentation once the BOE is corrected to reflect your company's name.
4. **Resolve BRC Rejection:** - Once the BOE is corrected and re-issued in your company's name, submit the revised BOE and all supporting documents to your bank to obtain the BRC. - Ensure that all details on the BRC align with the import transaction and payment made to the China client.
5. **Follow Regulatory Requirements:** - Ensure compliance with all regulatory requirements related to imports and foreign exchange transactions as per RBI guidelines. - Keep records of all communication and documentation related to the correction of the BOE and obtaining the BRC.
By following these steps and coordinating closely with FedEx, the courier agent, and your Indian bank, you should be able to resolve the issue of BRC rejection due to discrepancies in the BOE. If needed, seek assistance from a customs broker or legal advisor familiar with import-export regulations to ensure compliance and expedite the resolution.
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