Section 9A: To Receive Payment of Value of Exported Goods

1) The exporter shall have to declare before the Customs Officer that he or she shall bring the payment of declared value within the period in the approved foreign exchange as prescribed by the Bank by filling in the said details in the export declaration form as prescribed by the Bank.

2) If there occurs a condition to receive the payment in excess or less than the value as declared in the declaration from before receiving the payment for exported goods, the exporter shall have to submit an application to the Bank, along with the evidence of such fact, and if such fact is found justifiable, the Bank may give permission to receive the payment in such excess or less amount.

3) If the exporter does not receive the payment of the price of the exported goods within the time limit as prescribed under sub-section (1), it shall be deemed that he or she has violated this Act.

4) Notwithstanding anything contained in Sub-section (3), if the exporter submits an application to the Bank setting out the reasonable reason of being failed to receive the payment of price of the exported goods within the period as prescribed in Sub-section (1) and if the Bank is satisfied with that matter, it may issue the following order to the concerned exporter setting out the next period:

(a) To bring the payment if the goods have already been sold.

(b) If the goods have not yet been sold, to bring the payment by selling them or returning such goods to Nepal.

Provided that, if an application has been submitted to the Bank setting out the reasonable reason for being unable to bring the payment for exported goods due to a condition beyond the control of the exporter, the Bank may, upon holding a necessary examination, give a concession not to return such goods or bring payment fully or partly.

5) If the Bank desires to have certified the consent that the payment of the price declared in the declaration form shall be made within the prescribed period and mode, it may require the submission of the agreement and other evidence relating to the same concluded between the exporter and the foreign buyer.

6) The Bank may issue an order to do the following in relation to all or any particular type of goods to be exported or all or any particular exporter in order to manage the provision to receive the payment of the total value of the exported goods:

(a) Except as otherwise prescribed by the Government of Nepal, the payment for the exported goods has to be received through the means of a letter of credit and other means as prescribed,

(b) In order to certify covenanting that the price as declared in the declaration form as referred to in sub-section (1) is the real price for export, it is required to submit the said declaration form to the authority or institution as prescribed by the Bank.

7) Notwithstanding anything contained elsewhere in this Section, the procedures for the export of knowledge and informative technology and payment for the same shall be as specified by the Bank by publishing and broadcasting a public notice.