Conditions and modalities for registration of contracts of cotton with DGFT

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....-14 dated 16.12.2010, through which it was informed that modalities for registration of contracts will be notified separately.  The data for export made from 1/11/2010 to 15/12/2010 is being collected and allocation will made for the balance quantity keeping in view the decision of GoM to limit the export of raw cotton to 55 lakh bales during the cotton season 2010-11. Accordingly, it has been decided to invite applications for grant of registration certificate for export of cotton from 31.12.2010 to 06.01.2011 (till 5.00 PM). 2         All applications for grant of registration certificate shall be sent only through E-mail at [email protected] in the prescribed format as per Annexure-1 of this Policy Circular.  3.         Allocation will be made after scrutiny of applications, as per the following criteria:- (i)                  Allocation will be done on a prorata basis with a ceiling of 1,00,000 bales per IEC and floor of 500 bales per IEC. Therefore, no application below 500 bales will be consid....

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....er Section 11(2) of the Foreign Trade(D&R) Act would be initiated.  For ready reference Section 11(2) is extracted below:- "11(2).    Where any person makes or abets or attempts to make any export or import in contravention of any provisions of this Act or any rules or order made thereunder or the Foreign Trade Policy, he shall be liable to a penalty of not less than ten thousand rupees and not more than five times the value of the goods or services or technology in respect of which any contravention is made or attempted to be made, whichever is more." 4.   An illustrative example is provided in Annexure-2 to this Policy Circular for information and guidance. 5.        Calendar for process of applications, issue of RC and export is provided in Annexure-3 to this Policy Circular. 6.        This issues with the approval of Commerce Secretary. (Hardeep Singh) Joint Director General of Foreign Trade Email: [email protected] (Issued from F. No 01/91/180/1194/AM10/Export Cell)   Annexure-1 to Policy Circular No. 09(RE-2010)/2009-14   &nb....

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[email protected])                (Application must be from one of these two E-mails) Line 28 :  Name of the authorised person sending the application                   (Example : Ashok Bhalla) Line 29 :  E-mail of the authorised person(Example : [email protected]) Line 30 :  Phone No of the authorized person (Landline & Cell phone) _____________________________________________________________   End of E-mail _____________________________________________________________        Note 1        : After allocation, eligible applicant shall submit hard copies of above application, duly signed by authorised person alongwith following declaration on the official letter head of applicant firm. DECLARATION / UNDERTAKING 1.  I / We hereby declare that the particulars and the statements made in this application are true and correct to the best of my / our knowledge and belief and nothing has been concealed or he....

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....ocable Letter of Credit(LC),  or (ii)    FIRC from Bank showing receipt of remittance from the concerned foreign buyer as proof of having received 100% Advance Payment or a minimum of 25% Advance Payment and balance Cash Against Delivery(CAD). (b)     Copy of IEC (c)     Proof of shipments made against EARCs issued by Textile Commissioner, Mumbai   Annexure-2 to Policy Circular No. 09(RE-2010)/2009-14             Dated 29.12.2010 Illustrative example Suppose 5 exporters have applied for allocation of quota.   Let us assume that the total quantity to be allocated is 1,00,000 bales. But, we have received applications for 10,00,000 bales.  Accordingly, each applicant will get 10% of the quantity he/she has applied for.  The percentage share which each exporter will be allocated of the total quantity is as below:- (1)     Allocation of quantity on pro-rata basis {See para 3(i) of Policy Circular dated  29.12.2010}   Exporter Quantity applied in bales Quantity allotted in bales ....

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....nal allocation A 11,111.11 + 3,055.25 14,166.36 B 16,666.66 + 4,582.87 21,249.53 C 22,222.23 + 6,111.87 25,000.00** D 25,000.00 -  6,250.00 18,750.00 E 25,000.00 -  7,500.00 17,500.00     96,665.89 ** (For C, the total quantity comes to more than 25,000 bales, but as per ceiling the quantity allocated to C is limited to 25,000 bales). This leaves a balance of 3,334.11 bales which will be again re-allocated amongst the remaining eligible applicants i.e. A & B using the above iteration, till the total quantity available is fully allocated.     ****** Annexure-3 to Policy Circular No. 09(RE-2010)/2009-14               Dated 29.12.2010 CALENDAR OF EVENTS   1. Policy Circular to be issued on   29^th December, 2010 2 Receipt of Application                                          &n....