Execution of Bond and Bank Guarantee (BG) for the purpose of permitting clearance of imported goods under Advance License/EPCG Schemes ; supersession to earlier Public Notice No. 84/2011 and Public Notice No. 81/2011
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Bank Guarantee requirements for Advance License/EPCG imports demand unconditional renewal clauses and prescribed certified documentation. Execution of bonds and Bank Guarantees for clearance under Advance License/EPCG schemes requires BGs with an unconditional self renewal clause and bank forwarding details for genuineness checks. BG exemption is conditional on a clean compliance record and certified proof of export performance or duty payment from designated authorities or professionals. Manufacturer exporters claiming concessional BG must submit certified registration, specified proof (export performance, duty payment or DGFT redemption/EODC) and installation certificates; non-registered manufacturers must provide equivalent council or professional certification and installation evidence, with post-verification where required.
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 requirements for Advance License/EPCG imports demand unconditional renewal clauses and prescribed certified documentation.
Execution of bonds and Bank Guarantees for clearance under Advance License/EPCG schemes requires BGs with an unconditional self renewal clause and bank forwarding details for genuineness checks. BG exemption is conditional on a clean compliance record and certified proof of export performance or duty payment from designated authorities or professionals. Manufacturer exporters claiming concessional BG must submit certified registration, specified proof (export performance, duty payment or DGFT redemption/EODC) and installation certificates; non-registered manufacturers must provide equivalent council or professional certification and installation evidence, with post-verification where required.
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