BANK REALISAION CERTIFICATE
This query is : Resolved
25 June 2009
what are the consequnces or problem,If we are not submiiting the Bank realisation certificate to RBI ? And what's the procedure after delaying submitting the BRC TO RBI?
25 June 2009
All unrealised exports older than 180 days is reported to RBI by the Bank through whom the doc is sent or negotiated If u do not comply with RBI requirements u will have problems as bad debts are not looked upon favourably your export should be covered by ECGC insurance cover or be an exempted party.Either way the ECGC procedure is good for u too.
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