LUT/BG requirement ensures import authorisations for re export of restricted items are secured and redeemable on proof of re export. Import authorisations for restricted items on a re export basis must be secured by execution of LUT/BG at issuance: status holders and qualifying manufacturers execute only a LUT for the full import value, while other importers execute a LUT for the full import value plus a bank guarantee. The LUT/BG must cover the re export period plus six months and must be redeemed by the Regional Authority upon receipt of documentary evidence of re export.
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.
LUT/BG requirement ensures import authorisations for re export of restricted items are secured and redeemable on proof of re export.
Import authorisations for restricted items on a re export basis must be secured by execution of LUT/BG at issuance: status holders and qualifying manufacturers execute only a LUT for the full import value, while other importers execute a LUT for the full import value plus a bank guarantee. The LUT/BG must cover the re export period plus six months and must be redeemed by the Regional Authority upon receipt of documentary evidence of re export.
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