FEMA & Trade Finance (Export / Import of Goods & Services & Remittances)

Interactive Workshop on FEMA & Trade Finance (Export / Import of Goods & Services & Remittances) With Case studies  Discussions will be on the basis of the Reserve Bank's latest Master Circulars dated 1st July 2015.                                   8 OCT 2015      JW Marriott, MUMBAI                                                      28 OCT 2015    The Claridges, DELHI With the liberalization of economy, Govt of India, through Reserve Bank relaxed most of the regulations in order to boost the international trade. From the time FEMA was introduced in June 2000, till today lot of relaxations have been introduced by Reserve Bank for smooth facilitation of interalia, trade. In most of the cases exchange control administration are decentralized and the Authorized Dealers are given discretionary powers to handle the transactions. In case of exports, dispatch of documents directly to consignee, reduction in invoice value, write off, netting off export receivables, allowing export through ware house abroad, agency commission remittance, export claims, handling advance remittance and delayed presentation of regulatory documents etc., powers are delegated to authorized dealers for approving such transactions. Likewise, import transactions are also liberalized. Authorized dealers are delegated with requisite powers to approve advance remittance for imports with/without the guarantee from the overseas seller, trade credit transactions (supplier's credit /buyer's credit), merchanting trade and high-sea sales etc., Regarding outward remittances Authorised Dealers can permit most of the current account transactions and also capital account transactions subject to certain limits. In spite of the wide range of delegated authority, still there are some gaps in understanding and interpreting these guidelines. In this program, most of the operational issues will be discussed with appropriate case studies so as to get clarity. Discussions will be on the basis of the Reserve Bank of India's latest Master Circulars which are effective from 1st July 2015. This program will specifically address the issues relating to: • Clear distinction between current and capital account transactions • Export related regulatory issues – trade discount, reduction in invoice value, Regulatory waiver, dispatch of documents directly to the consignee, advance remittance, write off, netting off • Import related regulatory issues – time limit for import payment, interest payments, advance remittance for imports, import of services, trade credit – supplier's credit and buyers credit, High sea sales, Merchanting trade. • External Commercial Borrowing and Trade credits – with case studies • Remittances other than imports Who Should Attend Managers who are handling exports, banking and regulatory compliance Managers who are handling imports and remittances Procurement department dealing with imports Finance personnel who deal with banks and regulatory authorities Bankers who are dealing in trade finance and compliance Programme Schedule: Session Contents 1 Introduction to FEMA 1999 – Distinction between current and capital account transactions – Full convertibility of Indian Rupee – Decentralisation of exchange control administration – Role of Authorised Dealers in handling forex transactions – 2 FEMA 1999 on export of goods and services – Regulatory compliance – Responsibilities of AD in handling export transactions – Export of services – software exports – Time limit for presentation of export documents – time limit for realizing export payments – change of buyer – extension of time limit – export write off – handling export advance remittances – netting off – direct dispatch of documents to the consignee – GR Waiver – export related remittances – legal expenses, export claims, storage and warehousing charges, demurrage and agency commission –with case studies. 3 FEMA 1999 on Import of goods services – handling advance remittances for imports – responsibilities of an authorised dealer in handling import transactions – time limit for import payments – approved method of payments – submission of documentary evidence – reporting system for import remittances – delayed remittances under AD's discretionary powers, cases to be referred to RBI, difference between high sea sales and merchanting trade – trade credits – suppliers credit and buyers credit – with case studies 4 FEMA on remittances – • inward remittances – for residents and non residents; • Outward remittances – current and capital account remittances • ECBs Question and answer session Faculty: Mr. K. Parameswaran • Corporate Advisor and Trainer in International Trade and Finance. Started his career as a banker and spent more than 30 years, has now been practising in the fiel d of International trade and finance. • Organizations with which he is professionally connected are Bankers Training College of Reserv e Bank of India, Bank of Tokyo, Barclays Bank, Citi Bank, Deutsche Bank, HDFC Bank, HSBC, ICICI Bank, IDBI Bank, Kotak Mahindra Bank, Standard Chartered Bank, World Trade Centre, International Chamber of Commerce (Panel Member), ECGC, FEDAI, Institute of Chartered Accountants, Indo German Chambers and Institute of Company Secretaries. • Companies with which he is associated: Tata Group companies, Vedanta Group companies, Essar Steel Ltd, Thermax Ltd, L & T , GMR group, Lanco, Toyo Engineering, Tecnimont etc.,  • He is associated with S.P. Jain Institute of Management and Research as Associate Professor, handling International Finance with their Dubai, Singapore and Mumbai Centres. Timings: 9:30 am – 5:30 pm , Registration begins at 9:00 am How to Register: • Fees: Rs. 8,500/- + 14 % service tax per person. (Discount for 3 or more persons) • Please write to - newsletter@go4seminar.com /Call-022-66976892/74 • Mention the name of participant, company, contact details .  • Fees includes lunch, tea, course material etc. Princeton Academy Leaders in Executive Education 502 Shalimar Morya Park, Andheri Link Road, Andheri West, Mumbai- 400053. Tel- 022-66976892, 67256200. Delhi- 9312715500. Fax- 022-40166351

 

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