Export prohibition on wheat requires L/C message exchange date on or before the prohibition's effective date for registration. For registration of a letter of credit with Regional Authorities, both the L/C issuance date and the interbank message exchange/Swift date must be on or prior to the prohibition's effective date. Registrations based on an earlier L/C date alone will not be accepted where the message exchange date shows issuance after the prohibition; this clarification addresses submission of fraudulent back dated L/Cs and enforces compliance with the export prohibition on wheat.
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.
Export prohibition on wheat requires L/C message exchange date on or before the prohibition's effective date for registration.
For registration of a letter of credit with Regional Authorities, both the L/C issuance date and the interbank message exchange/Swift date must be on or prior to the prohibition's effective date. Registrations based on an earlier L/C date alone will not be accepted where the message exchange date shows issuance after the prohibition; this clarification addresses submission of fraudulent back dated L/Cs and enforces compliance with the export prohibition on wheat.
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