Bank guarantee requirement for EPCG licences must be determined and executed with Customs, not fixed by licensing authorities. Requirement that EPCG licence holders execute a Bank Guarantee or Legal Undertaking for duty free imports must be made with the Customs authorities in the manner they prescribe; licensing authorities should not fix the quantum of the guarantee on EPCG licences but only require that the BG be executed with Customs in terms of the Export and Import Policy before goods clearance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Bank guarantee requirement for EPCG licences must be determined and executed with Customs, not fixed by licensing authorities.
Requirement that EPCG licence holders execute a Bank Guarantee or Legal Undertaking for duty free imports must be made with the Customs authorities in the manner they prescribe; licensing authorities should not fix the quantum of the guarantee on EPCG licences but only require that the BG be executed with Customs in terms of the Export and Import Policy before goods clearance.
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