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What Are “inland Bills”? |
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Answer» Inland bills are contract agreements which define the information related to the transportation of GOODS overseas. Inland bills must be DRAWN on a person resident in India although it is payable outside India. The ESSENTIAL condition is that it must be drawn in India. For example a bill is drawn in Nagpur and payable in Hyderabad by an IMPORTER in New York is an inland bill. Inland bills are contract agreements which define the information related to the transportation of goods overseas. Inland bills must be drawn on a person resident in India although it is payable outside India. The essential condition is that it must be drawn in India. For example a bill is drawn in Nagpur and payable in Hyderabad by an importer in New York is an inland bill. |
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