NEW
4.18
At the time of issue of the licence,
the acceptance of the undertaking given by the applicant to the licensing
authority concerned in the form given in Appendix-10B will be endorsed on the
reverse of the Advance Licence.
Note :-
(a) No BG/LUT will be
required where the specified export obligation has been fulfilled before making
any import. In case of partial fulfillment of export obligation before effecting
any imports, the BG/ LUT may be reduced proportionately. The licence holder
shall also produce EP copy of the shipping bills and Bank Certificate of Export
and Realisation, and a statement of exports giving details of shipping bill wise
exports indicating the shipping bill number, date, FOB value as per shipping
bill and description of export product substantiating the completion or the
partial fulfillment of the export obligation to the licensing authority
concerned. However, realization of export proceeds shall not be insisted if
the shipments are made against irrevocable letter of credit and the same is
certified by the bank in column 14/ 15 of Appendix 22.
(b) In
respect of an advance licence on which "No BG/LUT" facility has been provided,
the licensing authority shall forward a copy of the "No Bond Certificate"
indicating the shipping bill number, date, FOB value as per shipping bill and
description of export product, in respect of shipment which were taken into
account for calculating fulfilment of export obligation to the customs
authorities with whom the licence is/required to be registered. Before allowing
the imports against Advance Licence, the Customs shall verify that the details
of the exports as given in the "No Bond Certificate" are as per their
records.
(c) The cancellation of BG/LUT would be undertaken by the
Customs within 30 days of issue of EODC /bond waiver by this office.
OLD
4.18
At the time of issue of the licence, the acceptance of
the undertaking given by the applicant to the licensing authority concerned in
the form given in Appendix-10B will be endorsed on the reverse of the Advance
Licence .
Note :-
(a) No BG/LUT will be required where the
specified export obligation has been fulfilled before making any import. In case
of partial fulfillment of export obligation before effecting any imports, the
BG/ LUT may be reduced proportionately. The licence holder shall also produce EP
copy of the shipping bills and Bank Certificate of Export and Realisation, and a
statement of exports giving details of shipping bill wise exports indicating the
shipping bill number, date, FOB value as per shipping bill and description of
export product substantiating the completion or the partial fulfillment of the
export obligation to the licensing authority concerned. However, realisation of
export proceeds shall not be insisted if the shipments are made against
confirmed irrevocable letter of credit and the same is certified by the bank in
column 14/15 of Appendix 22.
(In above Note (a) bold sentence has been
added vide PN. No. 39/2002-07, Dt. 08/10/2002)
(b) In respect of an
advance licence on which "No BG/LUT" facility has been provided, the licensing
authority shall forward a copy of the “No Bond Certificate” indicating the
shipping bill number, date, FOB value as per shipping bill and description of
export product, in respect of shipment which were taken into account for
calculating fulfilment of export obligation to the customs authorities with whom
the licence is/required to be registered. Before allowing the imports against
Advance Licence, the Customs shall verify that the details of the exports as
given in the “No Bond Certificate” are as per their records.
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