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of <h1>Legal Agreement for Importers/Exporters: Fulfill Export Duties or Face Penalties Under Foreign Trade Scheme, Section 5.12</h1> This legal agreement format is designed for importers/exporters entering into a binding contract with the Government of India, represented by the Director General of Foreign Trade. It outlines the obligations of the party under a specified foreign trade scheme, including fulfilling export obligations, complying with customs conditions, and submitting export statements. The party agrees to pay penalties for non-compliance, including interest on duties saved and potential forfeiture of bank guarantees. The agreement remains effective until all obligations are met. It must be executed on appropriate stamp paper, with specific execution requirements depending on the party's business structure.
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