Escrow Account

18/12/2009 23:14

 

Escrow Account: are USD account opened in India. Counter trade proposals involving adjustments of value of goods imported into India against the value of goods exported from India, in terms of an arrangement voluntarily entered into between an Indian party and an overseas party can be routed through an escrow account. Over Draft or Loan is permitted against funds in the a/c. No Interest is payable.