Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

FEDAI Rules-9, Schedule Of Charges.


Chapter 9- Schedule of Charges

  1. Exports
    Type of Transaction Charges
    1. Bills purchased/ discounted/ negotiated
      1. Processing charges for each foreign
        currency export bill
      2. Processing charges for each Rupee
        export bill
      3. For forwarding export documents
        on which no collection commission or
        exchange accrues to the bank (i.e. from
        one bank to the other in India).
      4. Reimbursement charges under Letter
        of Credit.
      5. Forwarding export documents to
        another bank for negotiation to whom
        L/C is restricted by the bank which has
        Booked the forward contract.
      6. For joining customer’s guarantees and
        giving guarantees on behalf of custom-
        ers in respect of discrepant documents
      7. In case of overdue export bill purchased/
        discounted/ negotiated where proceeds
        are not received within the stipulated
        period of 6 months.
        1. Applicable also in case of deferred
          exports if the relative export proceeds are
          not received within the stipulated period.
        2. Not applicable in case of bills drawn
          on countries with externalisation problems
          but paid in local currency and the exporter
          has obtained necessary approval from
          Reserve Bank of India.
    2. Collection Bills
      1. (Both foreign currency and rupees export bills)
        1. Equivalent of uptoRs.50,000
        2. Equivalent of Rs.50,000 and above but
          unto Rs.2,00,000.
        3. Equivalent of Rs.2,00,000 and above
      2. Overdue export bill sent for collection
        Rs.250/- per quarter where proceeds
        are not received within 6 months.
        1. Applicable also in case of deferred
          exports if the relative proceeds are not
          received within the stipulated period.
        2. Not applicable in case of bills drawn on
          countries with externalization problems
          but paid in local currency and the exporter
          has obtained necessary approval from
          Reserve Bank of India.
      3. Where proceeds of bills are received
        through a bank other than the collecting
        bank at the instance of exporter/ overseas
        buyer additional charge.
    3. Certificates
      Issuance of certificated/ attestations in
      respect of export transactions.
    4. Registration of export contracts.
    5. For advance against duty drawback Entitlements.
    6. Export Letter of Credit
      1. Advising letter of credit
      2. Advising amendment
      3. Confirmation charges
        1. Commitment charges
        2. Usance charge

          Note:
          Where the amount of a L/C exceeds Rs.8 crores (or in equivalent foreign currency) banks will recover charges at their discretion subject to minimum charge recoverable on Rs.8 crores.
      4. Transfer of letter of credit of transfer.
      5. Acceptance commission for accepting
        usance drafts to be drawn on and accepted
        by banks in India.
    Minimum Rs.100/- (for bill upto US$ 5000/- or equivalent) Minimum Rs.500/- (for bill over US$ 5000/- or equivalent)

    0.25% minimum Rs.100/- per bill

    Minimum Rs.100/-



    Minimum Rs.500/-

    0.20%



    0.25% minimum Rs.50/-

    Rs.250/- per quarter














    0.25% minimum Rs.25/-
    0.125% minimum Rs.125/-
    0.0625% minimum Rs.250/-
    Rs.250/- per quarter











    0.125%



    Rs. 20/- flat. (Banks may waive this Charge in their discretion)

    Minimum Rs.100/- per registration & Minimum Rs.50/- for every amendment.

    0.50% with a minimum of Rs50/-.


    Minimum Rs.200/- per letter of credit.
    Minimum Rs.100/- per amendment

    0.15% for every quarter or part thereof

    0.15% for bills upto 10 days sight.

    0.30% for bills over 10 days and upto 3 months’ sight.
    0.30% for the first 3 months plus 0.0750% for every months in excess
    of three months, for bills over 3 months sight.





    Minimum Rs.200/- for each advice
    0.15% per month
  2. Imports
    Types of Transaction Charges
      1. Opening of Import Letters of Credit
        1. Commitment charge
        2. Usance charge















          On the first Rs.8 crores

          On the next Rs.8 crores

          On the balance

      2. Where the L/C amount is less than
        Rs.10,000/-

    1. Amendments to L/C

      1. Extension of validity of L/C within
        3 months period (for which commitment
        charge has been collected)
      2. Where extension of validity of credit
        goes beyond 3 months (for which
        commitment charge has been collected
        upto 3 months).

      3. In case of enhancement of value of credit
        be collected as stated under 1.A. (a & b)
        above.

      4. In case of amendment extending the tenor
        of the Bill of Exchange.

      5. Amendment other than extension of
        validity or enhancement of tenor of
        the Bill of Exchange.

      6. For revival of expired L/Cs within
        3 months from date of expiry.

    2. Countersigning bills of exchange drawn on
      importers under L/Cs


    3. Revolving Letters of Credit
      1. Commitment charge
        on the maximum amount of drawings
        permitted at any one time during the period
        from date of establishment of L/C to the last
        date of validity.
        (2) On each amount reinstated from the date
        of reinstatement to the date of subsequent
        reinstatement or the last date of validity of
        L/C. (Minimum charge for reinstatement
        Rs. 100/-).

      2. Usance charge
        (2) 0.30% for the bills over 10 days sight
        and upto 3 months sight.
        (3) 0.30% for the first 3 months plus
        0.0750% for each month in excess of 3
        months for bills over 3 months’ sight.

    4. For establishing L/Cs/ Guarantees on
      Deferred payment terms covering import
      of goods.

      Note:
      If the Deferred Payment Guarantee is backed by a counter guarantee of the Government of India the commission recoverable will be at 0.0625% instead of 0.40% per quarter.


    5. Amendments
      1. Extending validity period within
        3 months (for which commission has
        already been collected).

      2. Where validity period is extended beyond
        3 months period part thereof.

    6. Commission on import bills (under L/C)
      1. Foreign currency bills at the time of
        crystallization or retirement whichever
        is earlier.

      2. Import bills received under Letter of
        Credit on which no exchange benefit
        Accrues to opening bank.

        1. Rupees bills at the time of retirement.
        2. If bills are not retired within 10 days
          from date of receipt of bills in case of
          demand bills and on the due date in
          case of usance bills.

    7. Commission on import bills (not under L/C)
      1. Where exchange margin is earned on a
        foreign currency bill.

      2. On each bill drawn in Rupees and on
        each bill drawn in foreign currency on
        which no exchange margin accrues.

      3. On Rupee import bills received on
        collection basis exceeding Rs. 1 crore
        banks shall charge commission as under:
        1. On the first Rs. 1 crore
        2. On the amount which is in excess of
          Rs. 1 crore.

      4. On bills/ documents covering project
        imports under inter-government aid
        scheme (including those financed by
        international agencies like World Bank
        IMF, ADB, etc.) where no letters of
        credit are opened, commission shall be
        collected at a flat rate irrespective of the
        amount of each drawing at 0.03125%.

      5. In case of documents received by
        importers directly from overseas
        exporters, commission at half the rates
        applicable for import bills for collection
        should be recovered at the time of
        effecting the remittance.

    8. If the overseas remitting bank or the exporter
      abroad requests proceeds of collection bills
      to be remitted in a currency other than the
      currency of the bill.

    9. Local Payments
      Local payments out of proceeds of import
      bill such as payments in connection with
      barter business or payments to cases of
      need etc.

    10. Parcels When the value of the parcel exceeds
      Rs. 1 lac and advalorem charge based on
      Rental value and insurance cost will be
      Collected on a monthly basis.

    0.15% for every quarter or part thereof.

    0.15% for bills upto 10 days sight.

    0.30% for bills over 10 days and upto
    3 months’ sight

    0.30% for the first 3 months plus 0.0750%
    per month in excess of 3 months for bills
    over 3 months sight.

    Note: Where the L/C amount exceeds Rs.8 crores
    Normal rate as above
    .

    One-half of the above rates.

    One-fourth of the normal rates.

    Minimum Rs.100/-






    Minimum Rs.250/-




    Fresh commitment charge of 0.15% per
    quarter or part thereof, minimum Rs.250/-



    Both commitment and usance charge will



    Appropriate additional usance charge.


    Minimum Rs.250/-





    Commitment and usance charge from the
    Date of expiry to the validity date of the


    0.085% per month with a minimum of
    0.25% for the tenor of the bill in addition to
    usance and commitment charges as above.


    (1) 0.15% for every quarter or part thereof










    (1) 0.15% for bills upto 10 days sight






    0.40% per quarter or part thereof.







    Minimum Rs. 400/-


    Further commission at 0.40% per quarter or


    0.15%



    0.25%


    Additional 0.15%






    0.25% Minimum Rs. 50/-


    0.50% Minimum Rs. 50/-





    At full rates as specified above

    At one-half of the rate specified above.















    Additional commission of 0.25%





    Minimum Rs. 250/-
  3. Inward Remittances
    1. Type of Transaction Exchange and Interest rates applicable
      1. Encashment of TTs/ Purchase of MTs/
        DDs in respect of which cover has been
        Received in Nostro Accounts.
      2. Encashment of TTs/ Purchase of MTs/
        DDs where reimbursement is to be
        obtained in cover by drawing demand
        drafts on overseas branches or corres-
        pondent banks. 10 days.
      3. Encashment of customer’s personal
        cheques, demand drafts, international
        money orders, banker’s pay orders,
        payable abroad. Customer at domestic commercial rate of
        interest.
    2. Clean Payments
      1. Effected under instructions from foreign
        correspondents.
      2. Where the inward remittance has to be
        be paid in foreign currency by way of
        a demand draft/ mail transfer/ payment
        order/ telegraphic tansfer.
    3. Certificates
      1. For issuing bank certificates on security
        paper in respect of clean remittances
        from abroad and/ or for encahment of
        foreign currency travelers cheques/
        foreign currency notes.
      2. Bank’s own letter head (where Rupee
        value of inward remittance does not
        exceed Rs. 5,000/-)


    Current TT buying rate (noexchange
    margin or interest to be charged).


    Current TT buying rate plus exchange
    margin of 0.125%. Interest to be recovered
    separately from the customer at the rate of
    15% per annum for a transit period of


    TT buying rate plus exchange margin of
    0.15%. Interest to be recovered separately
    for a transit period of 15 days from the





    Rs. 25/- (Banks may waive this charge in
    Their discretion)


    0.10% Minimum Rs. 10/-






    Rs. 25/- per certificate. (Banks may waive
    this charge in their discretion)




    Rs. 20/- per certificate. (Banks may waive
    this charge in their discretion)
    Charge
  4. Outward Remittances
    Type of Transaction Exchange and Interest rates applicable
    1. On all foreign currency outward
      remittances not being proceeds of
      import bills.
    2. Rupee remittances
      1. Upto s. 10,000/-
      2. Over Rs. 10,000/-
    Minimum Rs. 100/-



    0.25% minimum Rs. 10/-
    0.125% minimum Rs. 25/-
  5. Clean Instruments for collection
    Type of Transaction Exchange and Interest rates applicable
    On all clean instruments sent abroad


    Type of Transaction
    0.25% minimum Rs. 10/- (Banks in their
    Discretion may waive the commission for

    Charge
  6. Merchanting Trade- (If foreign currency remittances are received in advance by the export from the overseas buyer and the funds are held in nostro account at the specific request of the exporter)
    Commission
    a. On import bills received under back- to-back L/C.

    b. On export bills drawn by merchant exporters.
    0.25%

    0.25%
  7. Forward Contracts
    For booking sale and purchase contracts Minimum Rs. 250/- per contract
    For each request for early delivery, extension or cancellation. Minimum Rs. 100/- + swap cost and Cancellation charges where applicable.
  8. Foreign currency travelers cheques
    Sale of foreign currency traveler’s cheques
    1. Commission on Rupee equivalent
      value of travelers cheques sold to Indian
      residents
    2. Commission on foreign currency
      travelers cheques issued against foreign
      currency remittance at the request of the
      beneficiary.
    Not exceeding 1%



    0.25%
  9. Guarantees
    1. Guarantees to public authorities except
      item ‘b’ below.


    2. Guarantees given to public authorities
      for export of goods ex-bonded warehouses
      without payment of excise duty.
    3. For countersigning of Llyod’s General
      Average Bond and Guarantee

    4. Guarantee in favour of shipping
      companies/ agencies for clearance of
      goods pending production of bill of lading
      relating to imports under L/Cs opened by
      the guarantor bank.
    5. Guarantees covering missing bills of
      lading relating to imports not covered
      by ‘d’ above.


    6. Export performance guarantees for
      projects exports which





      1. Bid-bonds
      2. Bonds for earnest money
      3. Guarantees for advance payment
        made by foreign buyers to Indian
        exporters/ contractors



























    7. Export performance guarantees, Bid
      bonds etc. (other than for Project
      Exports)
    8. Export performance guarantees covering
      export obligations in terms of Import
      Trade Control Regulations.




    9. All other guarantees


      Minimum charge for any guarantee
    0.15% per month with a minimum of 0.25%
    for the specified period of liability plus an
    additional six months. If the guarantee is redeemed (i.e. returned duly cancelled) before the expiry of the additional six months, the additional charge may be refunded proportionately.

    0.15% per month with a minimum of 0.25%
    for the specified period of liability.




    0.15% per month with a minimum of 0.25%
    on the amount which would be required as a
    Cash deposit.

    Minimum Rs.200/- per guarantee








    0.25% at the time of issue of the guarantee.
    If the guarantee remains current beyond
    three months additional commission of
    0.15% per month or part thereof as long as
    the guarantee remains current thereafter.

    1. In the case of guarantees covered by
      projects exports which include ECGC counter guarantees, banks shall
      collect commission as well as ECGC
      premium at the under-noted rates and
      remit the collected premium to the
      ECGC.
      ECGC ECGC Bank Total
      Counter guarantees Premium w.e.f. 1.1.82 Commission w.e.f. 13.7.81 Cost to exporters
      Per annum
      75% cover
      Upto Rs.1 crore
      0.55% 1.35% Excess over Rs 1 crore
      0.80% 0.30% 1.10%
      90% crore Upto Rs.1 crore 0.95% 0.45% 1.40%
      Excess over Rs.1 crore 0.95% 0.25% 1.20%

    2. In case of guarantees issued against
      100% counter-guarantees issued by
      Government of India, bank commi-
      ssion shall be as under:
      Upto RS. 1 crore: 0.45% p.a.
      Excess over
      Rs.1 crore: 0.25% p.a.
    3. In case of guarantees issued against
      cash deposit to the extent of bank’s
      liabilities commission shall be
      charged at the rate of 0.50% per
      annum
    4. In case of guarantees which are not
      covered by cash deposits or ECGC/
      Government of India counter
      guarantees, commission shall be
      charged at the rate of 1% per annum.
    5. In case of bid bonds 25% of comm.-
      ission collected at the time of issue.
      If the bid materia-lises the balance
      75% commission shall be collected.
      If the bid gets frustrated there will
      be no refund to commission
      collected.
    0.085% per month with a minimum
    0.25%



    0.085% per month with a minimum
    0.25% for the specific period of
    Liability. In case of early redemp-
    tion of the guarantee a minimum of
    50% of the commission for the
    unexpired period i.e. from the date
    of redemption to the expiry date
    may be refunded.

    0.15% per month with a minimum
    of 0.25% for the specified period of
    liability.
    Rs.250/-
  10. Out of pocket expenses such as telex/ cable/ correspondent bank’s charges. Actuals will be recovered
  11. Stamp Duty Will be recovered at the rates prescribed by Government from time to time.

Note 1:
In addition to the above schedule of charges, interest wherever applicable is payable as mentioned in the various Rules.

Note 2:
the charges included in the above schedule of charges shall be collected irrespective of whether a margin is obtained or not and shall not refunded or remitted in any event except a genuine mistake in collecting them on the part of the bank, or specially permitted in the Rule itself.

All charges are recoverable upfront unless specifically provided for in the Rule.


Exim Guru Copyright © 1999-2022 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001