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FAQs on BTB LC
Can BTB LC be opened against export LC only ?
Can an exporter firm operating without bond license open local LC in foreign currency?
Is it mandatory to open the BTB LC on usance basis only?
Is it mandatory that local BTB payment must be settled through BB Clearing account ?
Are deemed exporters allowed to open BTB LC to import raw materials ?
What is the source of foreign exchange to settle BTB LC payment obligation?
Under which basis/ When will AD settle foreign BTB LC Liabilities ?
Is it mandatory for AD to settle foreign BTB LC payment obligation even in case of failure to export or short realization of proceeds?
Can a bank sell foreign exchange to customer to settle foreign BTB LC ? When bank shall pay from its own source?
What are the responsibilities of AD in case of payment of BTB LC liabilities from own source?
What is single pool?
Is it mandatory to use single pool?
Can an AD disburse the entire export proceeds to the customer having BTB/usance LC payment obligation?