Import payment

This query is : Resolved

Amit (Querist)
Follow

12 March 2013 Sir i am planning to visit to uk and import material from uk my client is saying that he want taotal payment in advance before laoding the material. what is the procedure to transfer him the payment only after seeing the material or can i purchase pound in india and take over there and make payment over there.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

14 March 2013 GENERALLY AN EXPORTER IMPORTER ARE ABIDE BY LAW BY RBI .

AFTER FORMATION IEC CODE AS AN EXPORT COMPANY REMIT THROUGH THIS ACCOUNT.

EXPORT IMPORT PAYMENT DEPENDS ON PAYMENT:

1. DEMAND DRAFT

2. T T

3. LETTER OF CREDIT

MORE INFO:

http://www.rbi.org.in/scripts/ECMUserView.aspx?Id=32#a_10

http://www.rbi.org.in/scripts/ECMUserView.aspx?Id=32