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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Foreign Trade Policy Update: Status Holders and PSUs Can Now Use Corporate Guarantees Instead of Bank Guarantees.</h1> The Director General of Foreign Trade has amended the Handbook of Procedures, Vol.I under the Foreign Trade Policy 2004-2009. The amendment allows a status holder or a Public Sector Undertaking (PSU) to submit a Corporate Guarantee instead of a Bank Guarantee or Letter of Undertaking (LUT), as per the relevant Customs Circular. Additionally, within a group company, if one company holds status, it may provide a Corporate Guarantee for another non-status holding company. Furthermore, sub-paragraph 3 of paragraph 2.33 of the Handbook has been deleted. These changes are made in the public interest.
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