Conditions and modalities for registration of contracts for additional quantity of 10 lakh bales(1,70,000 MTs ) of cotton with DGFT.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, as amended from time to time, the Director General of Foreign Trade hereby notifies the following procedure for export of  10 lakh bales (1,70, 000 MTs) of cotton. Notification No. 57(RE-2010)/2009-2014 dated 9^th June, 2011 has now permitted export of 65 lakh bales of cotton during the current Cotton Year 2010-11 (01.10.2010 to 30.09.2011) subject to registration of contracts with Directorate General of Foreign Trade for export of cotton under ITC(HS) Code 5201 & 5203.   2.    Out of the above quantity of 65 lakh bales, allocation of 55 lakh bales has already been made by the Textile Commissioner, Mumbai in October, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....bsp; 5.   Procedure to obtain registration from Regional Authorities:  After the allocation is made (as described at para 4 above), the applicants shall have to submit the following documents to the concerned Regional Authority of DGFT (RAs) for issue of Registration Certificate:  (a)    Copy of Export Contract along with A copy of confirmed and irrevocable Letter of Credit (LC). (It may be noted that  once LC is opened in the name of a particular firm, the same cannot be transferred or amended in the name of other firm), or   FIRC from Bank showing receipt of remittance from the concerned foreign buyer as proof of having received 100% Advance Payment or a minimum of ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Act would also 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 there under 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."  10.       Calendar of events  Calendar for process of applications, issue of RC and export is provided in Annexure-III  11.       Effect ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Line 8 : Higher quantity between Line 6 and Line 7 above (Example: 1,500 MTs)  Lines 9-14 : Any information that the applicant wishes to submit.  Lines 15-24        : Details of Applicant  Line 15 : Name of the Applicant (in whose name IEC has been issued) (Example : ABC Exports) Line 16 : l Exact Postal Address Line 17 : l (Example: D-402, 1^st Floor, Line 18 : l Karim Nagar, New Delhi- 110010) Line 19 : Phone Number(s) with STD Code (Example: 011-23456789) Line 20 : Fax Number (Example: 011-23456793) Line 21 : E-mail (Example : [email protected]) Line 22 : Alternative E-mail (Example : [email protected]) (Application must be from one of these ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ection 11(2) of Foreign Trade(Development & Regulation) Act, 1992, (as amended), including debarment from future allocations.  4. I hereby certify that I am authorized to verify and sign this declaration.   Signature of the Applicant                                                       Place  Name                           ....