{"id":2492,"date":"2026-10-09T19:10:19","date_gmt":"2026-10-09T13:40:19","guid":{"rendered":"https:\/\/blog.remitcircle.com\/?p=2492"},"modified":"2026-10-09T19:15:24","modified_gmt":"2026-10-09T13:45:24","slug":"p0101-export-bills-negotiated-purchased-discounted-except-nepal-bhutan","status":"publish","type":"post","link":"https:\/\/blog.remitcircle.com\/purpose-codes\/p0101-export-bills-negotiated-purchased-discounted-except-nepal-bhutan\/","title":{"rendered":"P0101 : Export bills negotiated \/ purchased \/ discounted (except Nepal &amp; Bhutan)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2492\" class=\"elementor elementor-2492\">\n\t\t\t\t<div class=\"elementor-element elementor-element-69a31d84 e-flex e-con-boxed e-con e-parent\" data-id=\"69a31d84\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-28139e9e elementor-widget elementor-widget-text-editor\" data-id=\"28139e9e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><b>What is Purpose Code P0101?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">P0101 covers the situation where an Indian exporter presents shipping documents to their bank, and the bank pays out funds before the overseas buyer actually settles the invoice. This is known as export bill negotiation, purchase, or discounting &#8211; a common trade finance facility that gives exporters working capital immediately after shipment rather than waiting 30, 60, or 90 days for the buyer to pay.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It applies to goods exports only (not services) and excludes remittances involving Nepal and Bhutan, which are handled under separate bilateral arrangements. When your bank credits your account under this facility, the inward entry is tagged P0101.<\/span><\/p>\n<p><a href=\"\/category\/purpose-codes\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"page\" data-id=\"351\">See all RBI purpose codes<\/a><\/p>\n<p>\u00a0<\/p>\n<p><!-- \/wp:post-content --><!-- wp:heading {\"className\":\"u005cu005cu005cu0022wp-block-headingu005cu005cu005cu0022\"} --><\/p>\n<blockquote>\n<h2><b>When to Use P0101<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Use P0101 when you are an Indian goods exporter and your bank has advanced funds to you against export documents &#8211; before the foreign buyer has actually paid. Common scenarios include:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">A garment exporter presenting a Letter of Credit (LC) and shipping bill to their bank for negotiation and receiving immediate credit<\/span><\/li>\n<li><span style=\"font-weight: 400;\">A manufacturer submitting a Documentary Collection (DA\/DP bill) to their bank for purchase or discounting<\/span><\/li>\n<li><span style=\"font-weight: 400;\">An exporter using a post-shipment credit facility where the bank buys the export receivable<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Any goods export where the bank fronts the money against bills of lading, invoice, and packing list<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<p><b>Quick check: <\/b><span style=\"font-weight: 400;\">If your bank credited you in advance against export documents and the buyer is outside Nepal\/Bhutan, it&#8217;s P0101. If you&#8217;re waiting for the overseas buyer to pay directly and the funds arrive later, that&#8217;s P0102.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>\u00a0<\/h2>\n<h2><b>Wrong Code? Use These Instead<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">P0101 is specifically for bank-negotiated \/ discounted export bills. Here&#8217;s where people commonly mix things up:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<p><b>If your money is from\u2026<\/b><\/p>\n<\/td>\n<td>\n<p><b>Correct code to use<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">Direct realisation of export bills sent for collection<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0102<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">Advance payment received from buyer before shipment<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0103<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">Export receipts not covered by a shipping bill (samples, gifts)<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0104<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">Export bills sent on collection (not yet realised)<\/span><\/p>\n<\/td>\n<td>\n<p><b>P0105<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><span style=\"font-weight: 400;\">Export to Nepal or Bhutan<\/span><\/p>\n<\/td>\n<td>\n<p><b>Separate bilateral code &#8211; check with your bank<\/b><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><b>Documents to Keep Ready<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Your bank will require these when processing a P0101 remittance:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<p><b>Document<\/b><\/p>\n<\/td>\n<td>\n<p><b>Why you need it<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>Shipping bill \/ Bill of lading<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">Primary export document confirming goods were dispatched<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>Commercial invoice<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">Shows the value, buyer, and terms of the export transaction<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>Packing list<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">Details of goods shipped &#8211; quantity, weight, description<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>Letter of Credit (if applicable)<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">The LC underpins the bank&#8217;s obligation to negotiate<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>Export Declaration Form (EDF)<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">RBI-mandated declaration for goods exports<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><b>e-FIRA<\/b><\/p>\n<\/td>\n<td>\n<p><span style=\"font-weight: 400;\">Official proof of inward foreign remittance with P0101 purpose code<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/blockquote>\n<p>\u00a0<\/p>\n<h2><strong>What is an e-FIRA &#8211; and Why Does It Matter?<\/strong><\/h2>\n<p><!-- \/wp:table --><!-- wp:paragraph --><\/p>\n<p>An e-FIRA (Electronic Foreign Inward Remittance Advice) is the official proof that foreign money entered India. It confirms the nature and purpose of the inflow, which matters for tax treatment, FEMA compliance, and audit trails.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p>Your bank generates it automatically once the funds land. You can usually download it from your internet banking portal or request it at your Forex desk. The e-FIRA will reflect the correct purpose code, which your CA or accounts team will reference during filings.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:quote --><\/p>\n<blockquote>\n<p><!-- wp:paragraph --><\/p>\n<p>\u00a0<strong>Did you know? <\/strong>Some banks take days to issue an e-FIRA. With Remit Circle, you can download yours instantly at no charge the moment your payment is credited. \u2192 Get your free e-FIRA via Remit Circle<\/p>\n<p>\u00a0<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<\/blockquote>\n<p><!-- \/wp:quote --><!-- wp:paragraph --><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:heading --><\/p>\n<h2><strong>Receive Inward Remittances Compliantly with Remit Circle<\/strong><\/h2>\n<p><!-- \/wp:heading --><!-- wp:paragraph --><\/p>\n<p>Getting the purpose code right on an inward remittance isn&#8217;t just a formality, a mismatch can cause payment holds, RBI queries, or incorrect tax treatment. Remit Circle is built to handle this for you.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>Instant e-FIRA &#8211; <\/strong>Download your Foreign Inward Remittance Advice the moment funds are credited. No waiting on the bank, no Forex desk visits. Free.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>Correct purpose code, every time &#8211; <\/strong>Remit Circle flags the right code for your transaction type before the payment is processed, so there are no mismatch holds at the bank.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>Multi-currency support &#8211; <\/strong>Receive in USD, EUR, GBP, AUD and more. Funds settle directly into your Indian bank account at competitive rates.<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><strong>Compliance-ready records &#8211; <\/strong>Every transaction comes with a clean audit trail purpose code, amount, date, counterparty so you and your CA are always on the same page.<\/p>\n<p>\u00a0<\/p>\n<p><!-- \/wp:paragraph --><!-- wp:pullquote --><\/p>\n<figure>\n<blockquote>\n<p><strong>Start receiving international payments with Remit Circle<\/strong><\/p>\n<p><cite>Open a free account in minutes. No minimum balance, no hidden fees. Get your e-FIRA instantly on every inward remittance.<br \/><strong>\u00a0<a href=\"https:\/\/remitcircle.com\/authentication\/login\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"link\" data-id=\"https:\/\/remitcircle.com\/authentication\/login\">Open your free Remit Circle account \u2192<\/a><\/strong><\/cite><\/p>\n<\/blockquote>\n<\/figure>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f8f9b70 e-con e-atomic-element e-flexbox-base e-default-div e-eb54ca1 \" data-id=\"f8f9b70\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"f8f9b70\">\n    <div class=\"elementor-element elementor-element-0b08ba9 e-con e-atomic-element e-flexbox-base e-default-div e-0b08ba9-8af24c3 \" data-id=\"0b08ba9\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"0b08ba9\">\n    <div class=\"elementor-element elementor-element-21fe4a1 e-con e-atomic-element e-flexbox-base e-default-div e-21fe4a1-4aab7b8 \" data-id=\"21fe4a1\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"21fe4a1\">\n    <div class=\"elementor-element elementor-element-223d133 e-con e-atomic-element e-flexbox-base e-default-div e-223d133-55853b2 \" data-id=\"223d133\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"223d133\">\n    \t\t\t<h2 data-interaction-id=\"caac458\" class=\"e-caac458-a43f70d e-heading-base e-default-h2\"><strong>Frequently Asked Questions<\/strong><br><\/h2>\n\t\t\t\t<div class=\"elementor-element elementor-element-4207a1c elementor-widget elementor-widget-n-accordion\" data-id=\"4207a1c\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:200,&quot;sizes&quot;:[]},&quot;default_state&quot;:&quot;expanded&quot;,&quot;max_items_expended&quot;:&quot;one&quot;}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6920\" class=\"e-n-accordion-item\" open>\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"true\" aria-controls=\"e-n-accordion-item-6920\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: What is RBI purpose code P0101? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6920\" class=\"elementor-element elementor-element-1a7b3c2 e-con-full e-flex e-con e-child\" data-id=\"1a7b3c2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"ab98b76\">P0101 is used when an Indian bank negotiates, purchases, or discounts an export bill on behalf of an exporter and credits the funds before the overseas buyer settles. It covers goods exports to all countries except Nepal and Bhutan.<br><\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6921\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"2\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6921\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: What is the difference between P0101 and P0102? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6921\" class=\"elementor-element elementor-element-f3f0f80 e-con-full e-flex e-con e-child\" data-id=\"f3f0f80\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"76f2ae7\">P0101 is used when your bank advances funds to you against export documents (negotiation\/discounting). P0102 is used when the foreign buyer actually pays and the funds are realised from a bill that was sent for collection - i.e., the bank did not pre-finance you.<br><\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6922\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"3\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6922\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Why are Nepal and Bhutan excluded from P0101? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6922\" class=\"elementor-element elementor-element-80349c3 e-con-full e-flex e-con e-child\" data-id=\"80349c3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"d044074\">India has special trade and payment arrangements with Nepal and Bhutan. Transactions with these countries are settled under different bilateral frameworks and use separate purpose codes designated for those corridors.<br><\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6923\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"4\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6923\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Do I need to submit an Export Declaration Form (EDF) for P0101 transactions? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6923\" class=\"elementor-element elementor-element-34fabb0 e-flex e-con-boxed e-con e-child\" data-id=\"34fabb0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"0094be7\">Yes. FEMA requires an EDF to be submitted for all goods exports. Your Authorised Dealer (AD) bank will typically collect this as part of the export documentation process before negotiating the bill.<br><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6924\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"5\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6924\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: What happens if the overseas buyer doesn't pay after my bank has negotiated the bill? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6924\" class=\"elementor-element elementor-element-4bf52d6 e-flex e-con-boxed e-con e-child\" data-id=\"4bf52d6\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"84662f0\">If the buyer defaults, you (the exporter) remain liable to repay the bank the amount advanced under the negotiation facility. The bank has recourse to you. This is why export credit insurance (ECGC) is commonly taken alongside such facilities.<br><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-6925\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"6\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-6925\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Q: Can I use P0101 for service exports? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-6925\" class=\"elementor-element elementor-element-64b4ab3 e-flex e-con-boxed e-con e-child\" data-id=\"64b4ab3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<p class=\"e-paragraph-base e-default-p\" data-interaction-id=\"29105fd\">No. P0101 applies to goods exports only. Service exports - such as software, consulting, or professional fees - fall under different purpose code groups, primarily the P08xx series for IT\/software and P10xx for professional services.<br><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"Your Indian bank has negotiated, purchased, or discounted an export bill on your behalf and you are receiving the funds in advance of the overseas buyer&#8217;s payment\nIndian exporters of goods whose bank provides early payment against export documents\nIndian companies, inventors, creators, and IP owners who sell or assign their intellectual property rights to overseas buyers\nInward remittance (money coming into India)","protected":false},"author":260895650,"featured_media":2497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_page_reading_time":"","csco_page_toc_navigation":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1384],"tags":[],"class_list":["post-2492","post","type-post","status-publish","format-standard","has-post-thumbnail","category-purpose-codes","cs-entry","cs-video-wrap"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/phhXOC-Ec","jetpack-related-posts":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/blog.remitcircle.com\/wp-content\/uploads\/2026\/10\/P0101.png?fit=1200%2C800&ssl=1","_links":{"self":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/2492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/users\/260895650"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/comments?post=2492"}],"version-history":[{"count":10,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/2492\/revisions"}],"predecessor-version":[{"id":2532,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/posts\/2492\/revisions\/2532"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/media\/2497"}],"wp:attachment":[{"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/media?parent=2492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/categories?post=2492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.remitcircle.com\/wp-json\/wp\/v2\/tags?post=2492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}