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of <h1>New Procedures for Bonds and Bank Guarantees in Advance License and EPCG Schemes: Compliance and Exemptions Detailed.</h1> The circular outlines the revised procedures for executing bonds and bank guarantees (BG) for the clearance of imported goods under the Advance License and EPCG Schemes, superseding previous notices. It specifies the conditions for BG exemptions, which are contingent upon the license holder not having been penalized under various acts in the past three years. The circular categorizes importers based on export performance and registration status, detailing the required BG or cash security. It also provides guidelines for submitting BGs, including necessary documentation and verification processes. The notice emphasizes compliance and addresses potential difficulties in implementation.
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