Para 19.6.4 — CAM

19.6.4 With effect from 1-9-1980 the Ministry/Department which places a supply order or order for acceptance of tender other than those placed on private firms or individuals in the U.S.A., shall be responsible to arrange for payments against such contracts. For this purpose, the procedure prescribed below may be followed after mutual agreement with the foreign suppliers, with lower costs implications when compared to the system of LC. On receipt of the completed invoice from the foreign supplier along with all the relevant documents required under terms of the contract by the nominated officer in the Ministry/Department or by the bank nominated by the Ministry in India, payment shall be made through bank transfer directly into the payee's prespecified bank account

(s) abroad.