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of <h1>Exporters Can Apply Without BRC Under DEPB & Chapter 3 Schemes; Submit BRC Within 12 Months of Issuance.</h1> The circular from the Directorate General of Foreign Trade outlines revised guidelines for exporters applying under the DEPB scheme and Chapter 3 Incentive schemes of the Foreign Trade Policy. From April 1, 2009, exporters can file applications without a Bank Realisation Certificate (BRC), but must submit it within 12 months of scrip issuance. Exporters are required to send a quarterly statement of export proceeds. If realization time is extended by the RBI, exporters must notify the Regional Authority. Non-compliance may result in enforcement of Bank Guarantees or Legal Undertakings. The Regional Authorities will monitor compliance and maintain detailed records.
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