(i) The method for receipt of payment for exports are given in Chapter 2. Normally, payment must be received through the medium of an authorised dealer. It will, however, be in order for authorised dealers to handle documents in cases where the exporter has received export proceeds directly from the overseas buyer in the form of bank draft, pay order, bankers cheque, personal cheque, foreign currency notes, foreign currency travellers cheques etc., without any monetary limit provided the exporters track record is good, he is a customer of the concerned authorised dealer and prima facie the instrument represents payment for exports.

(ii) It will also be in order for authorised dealers to handle documents in cases were the exporter has received the export proceeds in respect of goods sold to overseas buyers during their visits to India in rupees from the Credit Card Servicing banks either by way of reimbursement against charge slips signed by ICC holders (overseas buyers) or as instantaneous credit to his bank account in India. GR (duplicate) should be released by the authorised dealers on receipt of funds in their Nostro account or on production of a certificate by the exporter from the Credit Card Servicing bank in India to the effect that it has received the equivalent amount in foreign exchange , if the authorised dealer concerned is not the Credit Card Servcing bank.

(iii) Payment towards export proceeds out of funds held in the Foreign Currency (Non-resident) account and Non-resident (External) Rupee account is also permitted.

(iv) Payment towards export proceeds from a rupee account, held in the name of an Exchange House with an authorised dealer, is also permissible up to Rs.2,00,000 per transaction