Agricultural goods are excluded from the scheme. Methods of Payment Payments for imports are purchased by authorised banks upon submission of documents eg. Letters of credit are the most commonly used mode of payment. An exporter's pro forma invoice must be produced for opening letters of credit. Letters of credit in excess of 270 days require the approval of the Bank of Thailand.
Quotations are normally in cif or fob.
The Bank of Thailand administers foreign exchange control on behalf of the Ministry of Finance. Payments for imports may be approved by authorized banks upon submission of the required documents. Thailand further reduced controls on foreign exchange transaction in April 1991. No restrictions on foreign borrowing and capital investments. Repatriation of investments funds, dividends and profits as well as loan repayments and interest payments, net of all taxes may be made freely.