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DGFT's Bank Guarantee Repository Module now requires a Purpose field to identify fresh and replacement bank guarantees and sends exporters automated expiry alerts 60 and 45 days before expiry. Regional Authorities can digitally sign and issue portal-based communications for renewal, replacement, encashment and return of bank guarantees. The module provides standardised status tracking, including pending acceptance, acceptance, replacement, return on EODC, and renewal or encashment notices. Bank guarantees declared through the Bills Repository remain pending until Regional Authority acceptance, but automatically become accepted when a linked AA/EPCG invalidation file is approved.
DGFT's Bank Guarantee Repository Module now requires a Purpose field to identify fresh and replacement bank guarantees and sends exporters automated expiry alerts 60 and 45 days before expiry. Regional Authorities can digitally sign and issue portal-based communications for renewal, replacement, encashment and return of bank guarantees. The module provides standardised status tracking, including pending acceptance, acceptance, replacement, return on EODC, and renewal or encashment notices. Bank guarantees declared through the Bills Repository remain pending until Regional Authority acceptance, but automatically become accepted when a linked AA/EPCG invalidation file is approved.
Note: It is a system-generated summary and is for quick reference only.