Irrevocable letter of credit: export realisation not required where bank certifies shipment, enabling DEPB transferability. Transfers of post export DEPB and non insistence on realisation of export proceeds are allowed where shipments are made against an irrevocable letter of credit and the bank certifies this in column 14/15 of Appendix 25; Appendix 25 may omit FOB value and realisation date in such cases if the bank endorses the shipment certification.
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.
Irrevocable letter of credit: export realisation not required where bank certifies shipment, enabling DEPB transferability.
Transfers of post export DEPB and non insistence on realisation of export proceeds are allowed where shipments are made against an irrevocable letter of credit and the bank certifies this in column 14/15 of Appendix 25; Appendix 25 may omit FOB value and realisation date in such cases if the bank endorses the shipment certification.
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