Payment Term is Letter of Credit (L/C), so the whole payment will be from foreign bank (buyer's bank in which he/she has current account maintained) to indian bank (exporter's bank in which he/she has current account maintained). Suppose the buyer's bank goes insolvent [due to some reasons such as that particular bank gave huge amount of loans to some people without adequate security (assets mortgaged with sale value less than the loan amount)] and now that bank is facing serious money crisis. Now in this critical situation, how will the exporter get his/her amount ? In domestic trade, seller is not that tensed about payment as there are no legal consequences and buyer is in India only so the seller can chase the buyer easily. If the payment term is not L/C and if the payment is not received by the exporter, then he/she has to get long visa procedure done to enter in the importer's country to chase him/her and in the meantime, it is possible that the importer may escape from his/her country and move to some other country. Moreover if under any payment term, payment is not received within 9 months or 15 months (time period extended due to COVID situation), then electronic Bank Realisation Certificate (eBRC) or Foreign Inward Remittance Certificate (FIRC) will not be generated and hence, exporter will receive legal notice from the Reserve Bank of India (RBI) for not receiving payment in prescribed time limit. Will the concerned authorities help the exporter to recover his/her money ? Likewise fraud may also happen with importer, i.e. if the payment term is non L/C (payment term other than L/C), then in that case, exporter will receive his/her 100% payment or full payment and may not export goods and run away from his/her legal obligation. Due to some external factors, goods are delivered late or due to some other unavoidable reason, goods are delivered late. But there comes a time when the importer comes to know that the exporter has actually not exported the goods and he/she ran away just by receiving the full payment, thus committing fraud with the importer, then after importer has to undergo long visa procedure to come to India or to the exporter's native country (if the exporter belongs to country other than India) and in the meantime, it is possible that the exporter may escape from his/her country and move to some other country. When the exporter doesn't receive payment within the time limit prescribed by RBI, he/she receives a legal notice from the same. Likewise, importer can also receive a legal notice or some warrant like thing in his/her native country from the concerned authority as per the rules and regulations of international trade applied and followed in that particular country. Hope you will understand the importance of these queries. Kindly reply as soon as possible.
Zabardast
Thank You 🙏😊
Sir Indonesia me stone crusher plant business jankari dejye
Sir consi company hame embossing paper gold & silver colour roll mangvakar deskatehi hai
Sir mujhe ek embossing gold paper' chahiye Indonesia se us meterial ka nam hai Prada mas
Auto riksha body parts ka koi byer ho to contact kara sakte ho aap? Aur dumper ke body parts ka hoga to bhi chalega
Sir क्या वाशिंग पाउडर निर्यात कर सकते हैं
Yes ....Washing Powder bilkul niryat kar saktr hai...bahot badhiya market available hai.. 👍👍
@@CosmoDigitalbusiness धन्यवाद जी
Nice
Thanks 👍👍
Sir Mai Kam investment Mai Agri Ka konsa product export Kar sakata hu..
लिंक चेक करें
निर्यात योग्य कृषी उत्पाद👇
th-cam.com/play/PLQdU00JY-6WPlAgZMpa9X5V-L4nFGdQNo.html
Thanks sir
Thanks for information about Indonesian
Thank You 🙏😊
Sir Indonesia me medicine export kar sakte hai kya
Yes...Kar sakte hai
Soyabean
. &
Wheat seeds .... Ka video bnaye...
Check this video
th-cam.com/video/9-nvVx9BJGo/w-d-xo.html
Good👍
Thank you 🙏😊
Payment Term is Letter of Credit (L/C), so the whole payment will be from foreign bank (buyer's bank in which he/she has current account maintained) to indian bank (exporter's bank in which he/she has current account maintained).
Suppose the buyer's bank goes insolvent [due to some reasons such as that particular bank gave huge amount of loans to some people without adequate security (assets mortgaged with sale value less than the loan amount)] and now that bank is facing serious money crisis.
Now in this critical situation, how will the exporter get his/her amount ?
In domestic trade, seller is not that tensed about payment as there are no legal consequences and buyer is in India only so the seller can chase the buyer easily.
If the payment term is not L/C and if the payment is not received by the exporter, then he/she has to get long visa procedure done to enter in the importer's country to chase him/her and in the meantime, it is possible that the importer may escape from his/her country and move to some other country.
Moreover if under any payment term, payment is not received within 9 months or 15 months (time period extended due to COVID situation), then electronic Bank Realisation Certificate (eBRC) or Foreign Inward Remittance Certificate (FIRC) will not be generated and hence, exporter will receive legal notice from the Reserve Bank of India (RBI) for not receiving payment in prescribed time limit.
Will the concerned authorities help the exporter to recover his/her money ?
Likewise fraud may also happen with importer, i.e. if the payment term is non L/C (payment term other than L/C), then in that case, exporter will receive his/her 100% payment or full payment and may not export goods and run away from his/her legal obligation. Due to some external factors, goods are delivered late or due to some other unavoidable reason, goods are delivered late. But there comes a time when the importer comes to know that the exporter has actually not exported the goods and he/she ran away just by receiving the full payment, thus committing fraud with the importer, then after importer has to undergo long visa procedure to come to India or to the exporter's native country (if the exporter belongs to country other than India) and in the meantime, it is possible that the exporter may escape from his/her country and move to some other country.
When the exporter doesn't receive payment within the time limit prescribed by RBI, he/she receives a legal notice from the same. Likewise, importer can also receive a legal notice or some warrant like thing in his/her native country from the concerned authority as per the rules and regulations of international trade applied and followed in that particular country.
Hope you will understand the importance of these queries.
Kindly reply as soon as possible.
Thanks for writing your concern... If you require personalized consultation in this regard ..You can Contact Us Here👇
bit.ly/3eGryWE