(on Letterhead)
Disposal Instructions for handling Foreign Inward Remittances
The Branch Manager
Bank of India
___________ Branch
Dear Sir / Madam,
With reference to your e-mail/telephonic intimation dt. __________ we furnish below the desired information
for disposal of the inward remittance, and I/We authorize you to debit all your charges and applicable taxes to
my/our account no _______________, and credit the foreign inward remittances as per the below mentioned
details
1. Foreign Currency & Amount
2. Name & Address of the Remitter
3. Purpose (Tick as applicable) Details
a. Exports other than Advance Payment ( ) Bill No:
b. Advance Payment against Exports ( ) Expected date of Shipment
Within 3/6/12 months (to be
commensurate with the line of activity)
Above 12 months (relevant additional
provisions of RBI shall apply)
Line of Activity of the Remitter and Beneficiary ____________________
Commodity / Service dealt with ____________________
Invoice/PO/Contract No & Date ____________________
(please also enclose the same with this form)
c. Merchant Trade-Export Leg () Details of Import Payment
Details of Export Bill Lodged
d. Capital Account Receipts ()
e. Other Receipts (please clarify) ( )
4. Conversion Details (strike out whichever is O. Credit to EPC/Bill Purchase Account No…..
not applicable) O. Credit to EEFC/PCFC/PSCFC or any other foreign
currency account no……….
O. Credit the balance and/or full amount into
account no______________________ at the
exchange rate, if contract booked. Give details
below.
5. (a) Details of Exchange Rate Deal No.
(cash/tom/spot/forward) booked
Amount to be utilized
Exchange Rate
Date of delivery
(if utilizing before delivery, applicable EDC will be
recovered)
(b) Balance amount to be taken at
prevailing exchange rate Currency _____ Amount ____________
Bank of India
FEBO GIFT City
Gandhinagar
Declaration cum undertaking
1. In respect of advance against exports, I/We undertake that I/We am/are under an obligation to
ensure that the shipment of goods is made within one year from the date of receipt of advance
payment, in the event my/our inability to make the shipment partly or fully within one year from the
date of receipt of advance payment, no remittance towards refund of unutilised portion of advance
payment or towards payment of interest, shall be made after the expiry of the said period of one
year, without the prior approval of the Reserve Bank of India. The documents covering the shipment
will be submitted to Bank of India within 21 days from the date of shipment.
2. i\I/We also declare that the transaction does not have linkage with any Specially Designated Nationals
and Blocked Persons (SDN/countries listed under OFAC in any manner, if the transaction involves
linkage with any Specially Designated Nationals and Blocked Persons (SDN/countries listed under
OFAC in any manner, I/We undertake not to hold Bank of India responsible for any of its action or
inaction in respect of the OFAC linked transactions. (*The Office of Foreign Assets Control (OFAC) is an
agency of the United States Dept. of the Treasury.)
3. Further, I/We declare that the transaction does not involve payment from/to a Third Party. If the
transaction involves payment from/to a Third party, I/We undertake to comply with the extant
guidelines from RBI / the Bank in this regard.
4. In respect of Merchanting Trade, I/We declare to abide by the extant guidelines of RBI. We undertake
to complete the entire export and import leg within a maximum period of 270 days and that outlay of
funds will not exceed 4 months and without incurring any financial loss. We also undertake that both
the legs of merchanting trade transaction will be routed through Bank of India only.
5. I/We hereby declare that the transaction details of which are mentioned above does not involve, and
is not designed for the purpose of any contravention or evasion of the provisions of the aforesaid Act
or of any rule, regulation, notification, direction or order made thereunder. I/We also hereby agree
and undertake to give such information / documents as will reasonably satisfy you about this
transaction in terms of the above declaration. I/We also undertake that if I/We refuse to comply with
any such requirement or make any unsatisfactory compliance therewith, the bank shall refuse I
writing to undertake the transaction and that if it has reason to believe that any contravention /
evasion is contemplated by me / us report the matter to RBI. I/We further declare that the
undersigned has the authority to give this application, declaration and undertaking on behalf of the
firm/company.
Thanking You.
Yours Faithfully
Date : (Signature of the Beneficiary)
Place: (Director/Partner/Proprietor/Authorised Signatory)
Name
Address
IE Code
Bank of India
FEBO GIFT City
Gandhinagar