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bill of entry

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(Querist)
19 November 2010 We a importing set-top boxes from china to india. according to contract terms we have to make two advance payment installment of 15 % of total payment.and rest 70% after reciving goods. we have paide 1 st installment but when we send document for 2 nd inst.then bank is asking for bill of entry. i want to know that bill of entry should be filled when goods are recived in india.and not in case of advance payments.pls reply that they are right or wrong?
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
19 November 2010 ACTUALLY BANK INTENTION IS RIGHT. SHOW THE IMPORT SALES CONTRACT & EMAIL ETC FOR THIS IMPORT AND EXPLAIN YOUR BANKER.

HOPE NO PROBLEM WILL BE CREATE YOUR BANK.
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