Amendment in Para 1.05(b) of Foreign Trade Policy 2015-2020

Transitional import-export policy: pre-change shipments unaffected; post-change shipments require pre-existing irrevocable commercial LC and registration.

Item-specific import/export permissions follow the policy in force on the date of import/export, determined principally by Bill of Lading and Shipping Bill. Policy changes from free to restricted/prohibited do not affect shipments completed before the restriction, but exclude high sea sales. Post-restriction shipments are permitted only if the importer/exporter had an Irrevocable Commercial Letter of Credit (ICLC) in place before the restriction, limited to remaining quantity, value and period, and the ICLC is registered with the jurisdictional authority within fifteen days of restriction. Changes apply prospectively unless stated otherwise.