9911796707
TMI BlogAmendment in Appendix 25A, HBP Vol.I (Appendices and Aayat Niryat Forms) regarding periodicity of Bank Guarantee (BG) to be executed with Regional Authorities in case of domestic procurement of goods against EPCG authorization.X X X X Extracts X X X X X X X X Extracts X X X X ..... n case of domestic procurement of goods against EPCG authorization. In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-2014, the Director General of Foreign Trade hereby makes the following amendments in the Appendix 25A of Handbook of Procedures Vol.I (Appendices and Aayat Niryat Forms) 2009-2014: Amendment: (i) The existing Note at the bottom of Appendix 25 A "The Bank Guarantee shall be valid till the expiry of the export obligation period plus six months" shall be substituted by the following: "The Bond/ BG shall be filed for a minimum period of three years with an undertaking to keep the BG alive for the entire period of export obligation viz.8+2=10 years or 12+2=14 years, as the case may be." ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... herein) for a value of Rs._________ (Rupees ___________________ only) under the___________________ Scheme (fill up the actual Scheme) notified by the Government under the Foreign Trade Policy 2009-14 as may be amended from time to time (hereinafter referred to as scheme) on the terms and conditions specified in the said Authorisation which term inter alia stipulates production of a Bank guarantee for Rs._________________ (Rupees___________ only). We ____________________ (indicate the name, E-mail I.D, Phone No./Fax. No and full address and other particulars of the Bank) (hereinafter referred to as Bank) at the request of the Importer/Exporter do hereby unconditionally and irrevocably undertake to pay the Government an amount not exceeding R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Government or till Jt.DGFT/Dy.DGFT, or any Licensing authority for the time being authorised to perform the duties of Jt.DGFT/Dy.DGFT, Ministry of Commerce, New Delhi certifies that the terms and conditions of the said Authorisation have been fully and properly carried out by the Importer/Exporter and accordingly discharges this guarantee. Provided, however, unless a demand or claim under this guarantee is made on us in writing on or before the ______________. We shall be discharged from all liability under this guarantee thereafter. 5. We ____________________ (indicate the name of bank), further agree with the Government that the Government shall have the fullest liberty without our consent and without affecting in any manner our ..... X X X X Extracts X X X X X X X X Extracts X X X X
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