Bill of Entry-IDPMS-Insuranxce

[Guest]

CIF shipment-Import. Vessel got sunk near Kolkata Port. As per foreign shipper's request, we had lodged insurance claim and Insurance co had settled the amount to us. Now while refunding the amount to Chinese Supplier ( as earlier we did not make any import payment to them), bank raises query- that there is no Billl of Entry and there will be a mismatch between IDPMS and BoE-Master. How to fix this

[YAGAY andSUN]

Submit the copy of the insurance claim and FIR to the Bank to close this matter in IDPMS.

AI Summary

Bill of Entry reconciliation: submit insurance claim and FIR to bank to resolve IDPMS-BoE mismatch. Importer received an insurance settlement for a CIF shipment lost when the vessel sank; the bank queried absence of a Bill of Entry and possible IDPMS-BoE mismatch. The prescribed remedy is to furnish the bank with the insurance claim settlement copy and the FIR so the bank can close the matter in IDPMS and enable the refund to the foreign supplier.