Is it a high sea sale ?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 April 2011 Company A intends to import the goods from China and wants to sell the same to Indian customer at Shangai port (FOB).Is it permissible ? Is it a high sea sale transaction ? Is it necessary that payment should be recd. in Foreign currency ?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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15 April 2011 High Sea sales (HSS) is a sale carried out by the carrier document consignee to another buyer while the goods are yet on high seas or after their dispatch from the port/ airport of origin and before their arrival at the port / airport of destination.

HSS is accepted under the import trade control regulation. Refer para 2.24 of Foreign trade policy 2009-2014.

in your case , this is not HIGH SEA SALE.

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