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of <h1>Importer/Exporter Agreement Details Export Obligations Under Foreign Trade Policy, Includes 15% Interest Penalty for Default</h1> This legal agreement format outlines the obligations of an importer/exporter entering into an undertaking with the Government of India. The agreement is executed under the Foreign Trade Policy and requires the party to fulfill export obligations as per a specified scheme. Key provisions include the requirement to perform export obligations within a stipulated period, submit export statements, and provide bank certificates of exports. In case of default, the party agrees to pay 15% interest on duties saved and may face penalties, including forfeiture of bank guarantees. The agreement remains binding until all obligations are fulfilled and allows for government modifications to the scheme.
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