FEMA 1999 ON Trade Finance

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Event Details

FEMA 1999 ON Trade Finance - Sep 24, 2018

(Export / Import of Goods & Services & Current Account Remittances) With Case studies

Recently some of leading corporate received notice from Reserve Bank of India for non submission of bill of entry, non fulfilment of export obligations after receiving advance remittances and cases where import of goods not done after sending advance remittance to overseas suppliers. It is also learnt that issuance of bill of entry hard copy is dispensed with EDPMS and IDPMS are put to operation. These are the some of the developments in the recent past.


In the advent of electronic data taking over the export and import transactions most of the guidelines of under FEMA 1999 has been modified. From the time FEMA was introduced in June 2000, till today lot of relaxations have been introduced by Reserve Bank for smooth facilitation of trade operations. In most of the cases exchange control administration is decentralized and the Authorized Dealers are being delegated with powers to handle the transactions.


In case of exports, dispatch of documents directly to consignee, reduction in invoice value, write off, netting off export receivables, allowing export through ware house abroad, agency commission remittance, export claims, handling advance remittance and delayed presentation of regulatory documents etc., powers are delegated to Authorized Dealers for approving such transactions subject to certain conditions.


Likewise, import transactions are also liberalized.  Authorized dealers are delegated with requisite powers to approve advance remittance for imports with/without the guarantee from the overseas seller, trade credit transactions (supplier’s credit / buyer’s credit), merchanting trade and high-sea sales transactions etc.,


Regarding outward remittances Authorised Dealers can permit most of the current account transactions and also capital account transactions subject to certain limits. In spite of the wide range of delegated authority, still there are some gaps in understanding and interpreting these guidelines.

This workshop will exclusively address the changes introduced by Reserve Bank of India through Master Directions and AP DIR circulars with case studies on the following issues.

  •  Export related regulatory issues – trade discount, reduction in invoice  value, Regulatory waiver, and dispatch of documents directly to the consignee, advance remittance, write off, netting off

  •  Import related regulatory issues – time limit for import payment, interest payments, advance remittance for imports, Merchanting trade.

  •  Remittances other than imports

Programme Schedule :
Session   Contents
1 Role of Authorised Dealers in handling foreign exchange transactions
2 FEMA export of goods and services – Regulatory compliance - Export of services – software exports – Time limit for presentation of export documents – time limit for realizing export payments – change of buyer – extension of time limit – export write off – handling export advance remittances – netting off – direct dispatch of documents to the consignee – GR Waiver – export related remittances – legal expenses, export claims, storage and warehousing charges, demurrage and agency commission – EDPMS
3 FEMA on Import of goods – handling advance remittances for imports – time limit for import payments – submission of documentary evidence – delayed remittances under AD’s discretionary powers, cases to be referred to RBI, Merchanting trade.

Who should attend ?
  •  Managers who are handling exports, banking and regulatory compliance

  •  Managers who are handling imports and remittances

  •  Procurement department dealing with imports

  •  Finance personnel who deal with banks and regulatory authorities

  •  Bankers who are dealing in trade finance and compliance 

Mr. Ajit Shah- Legal-Corporate Advisor for Exports & Imports

He is a Commerce Graduate from Sydnem College. He also holds a Law degree from Mumbai University. He has spent more than 25 years in Export Import Trade. He started his career as a consultant for Exports & Imports. He is also a renowned speaker in the fields of Exports & Imports. He has been associated with numerous educational institutes, training colleges, banks, public sector units, Chambers of Commerce, Export Promotion Councils etc


Bombay Chamber, Mackinnon Mackenzie Bldg, 3rd Floor, Ballard Estate, Mumbai - 400001


Revati Khare || Manager - International Trade & Commerce Committee 
Tel - 022-61200231, 9892029473
Participation Fee :   
Members  Rs. 4000 + 18% GST
Non-Members  Rs. 4500 + 18% GST

3 participant 10% discount, 5 participants 15% discount


Bank Details for NEFT

Account No.




Bank Name

DCB Bank

Branch Address

Mahim (024), Mumbai

Cheque /Demand Draft should be drawn in favor of “BOMBAY CHAMBER OF COMMERCE AND INDUSTRY”.


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