Amendment in Handbook of Procedures, Vol. 1(RE-2008) - Execution of Bank Guarantee / Legal Undertaking for Advance Authorisation / DFIA and EPCG Authorisation
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Bank guarantee acceptance: Customs-executed BG/LUT accepted on proof to RA; RA to endorse release subject to NOC/EODC. Existing Customs-executed Bank Guarantee/Legal Undertaking (BG/LUT) for the full licence value suffices if proof is furnished to the Regional Authority, exempting the need to execute a separate BG/LUT with the RA; the RA shall endorse that Customs will release or redeem the BG/LUT only after receipt of NOC or EODC and forward a copy to the Customs Authority at the port. For products lacking SION, the authorisation holder must submit an Aayaat-Niryaat Form with prescribed documents to the Norms Committee before shipment and include the Advance Authorisation annual requirement number, date and originating file number in the covering letter.
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 acceptance: Customs-executed BG/LUT accepted on proof to RA; RA to endorse release subject to NOC/EODC.
Existing Customs-executed Bank Guarantee/Legal Undertaking (BG/LUT) for the full licence value suffices if proof is furnished to the Regional Authority, exempting the need to execute a separate BG/LUT with the RA; the RA shall endorse that Customs will release or redeem the BG/LUT only after receipt of NOC or EODC and forward a copy to the Customs Authority at the port. For products lacking SION, the authorisation holder must submit an Aayaat-Niryaat Form with prescribed documents to the Norms Committee before shipment and include the Advance Authorisation annual requirement number, date and originating file number in the covering letter.
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