Early delivery of FOREX
This query is : Resolved
CA Sahil Singla..
(Querist)
10 June 2011
Sir
Could you please tell me the steps involved in case of Early Delivery in Foreign Exchange Contracts when the customer is of Exporter Type ?
Could you please tell me the steps involved in case of Early Delivery in Foreign Exchange Contracts when the customer is of Exporter Type ?
CA Suresh Jain
(Expert)
11 June 2011
The contract is for a specific date and therefore, early delivery is not possible. You can cancel the contract and convert the currency on current date.
If you have received the remittance earlier than the date of forward contract you keep the money in EEFC account and square-up the ttransaction on due date. Consultancy for free CA Suresh Jain, sureshjain.nj@gmail.com
If you have received the remittance earlier than the date of forward contract you keep the money in EEFC account and square-up the ttransaction on due date. Consultancy for free CA Suresh Jain, sureshjain.nj@gmail.com
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