FEMA-Compliant Payment and Repatriation

The parties shall effect cross-border payments under this Agreement in compliance with applicable Indian exchange-control law (Foreign Exchange Management Act 1999 and regulations made thereunder). Payments to Vendor shall be remitted through an Authorised Dealer Category-I bank, and the parties shall cooperate to ensure that the correct RBI purpose code is applied to each remittance (applicable purpose code for software/IT services) and that a Foreign Inward Remittance Certificate (FIRC) or equivalent advice is obtained as evidence of receipt of foreign exchange. Where required, the remitter or its bank shall obtain Forms 15CA and 15CB (the latter being a chartered accountant's certificate, required above the prescribed threshold) (thresholds and applicability). Vendor shall realise and repatriate the export proceeds within the period prescribed for software/service exports (the prescribed repatriation period) and shall complete any applicable SOFTEX or equivalent reporting. Each party shall provide the other with documentation reasonably required to satisfy these requirements and to support the tax treatment contemplated by USI_TX_03.