Foreign trade policy framework defines amendment powers and transitional rules for export-import authorisations and letters of credit. Chapter 1A sets out the FTP's operative period and affirms the Central Government's power to amend the Policy by notification. It provides transitional arrangements: pre-existing authorisations remain valid for their original purpose and duration unless otherwise stipulated, and exports or imports permitted prior to any subsequent restriction will ordinarily continue if shipments occur within original authorisation validity and irrevocable commercial letters of credit are registered and contracted with the concerned regional authority within the prescribed notice period.