Validity of Bank Guarantees and LUTs set from export date; revolving guarantees limited to each scheme until obligations satisfied. Both Bank Guarantees and Letters of Undertaking are valid for twenty-four months from the Let Export Order date (measured from the latest shipping bill where multiple S/Bs exist), and revolving BGs/LUTs remain effective only until all obligations are fulfilled to the Full and Final satisfaction of the Government and written consent is communicated; revolving instruments are limited to a specific scheme and cannot be used across different Regional Authorities.
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.
Validity of Bank Guarantees and LUTs set from export date; revolving guarantees limited to each scheme until obligations satisfied.
Both Bank Guarantees and Letters of Undertaking are valid for twenty-four months from the Let Export Order date (measured from the latest shipping bill where multiple S/Bs exist), and revolving BGs/LUTs remain effective only until all obligations are fulfilled to the Full and Final satisfaction of the Government and written consent is communicated; revolving instruments are limited to a specific scheme and cannot be used across different Regional Authorities.
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