Remittance is to be made against import within maximum 6 months from date of shipment and for Trade Credits within 3 years.
Authorised Dealer(AD) may remit Interest on import bills either on Sight basis or on Usance period, and also Advance payment against import of goods.
Documentary evidence includes a valid Import license. Physical import should be made within 6 months from date of remittance.
AD is to ensure receipt of Bill of Entry within 1 month. If Importer defaults in submission of Bill of Entry within 21 days from date of reminder, AD is to submit BEF statement to RBI on half yearly basis.