Whether remittance in advance towards cost of advertisement in Print Media or on Internet is allowed??
Authorised dealers are permitted to allow advance remittance where the contracts/agreements insist for the same. However, where the amount exceeds US $ 100,000 or its equivalent, a guarantee from a bank of international repute, situated outside India or a guarantee from an authorised dealer in India, if such a guarantee is issued against the counter-guarantee of a bank of international repute situated outside India, should be obtained from the overseas beneficiary. The remitter in India will have to ensure that the overseas beneficiary has fulfilled his obligations under the contract/agreement.
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