Grant of VKGUY and FPS/FMS Benefits Against Self Attested Shipping Bill

[DGFT Policy Circular No. 15 dated 5th November 2009]

Sub: Grant of VKGUY and FPS/FMS benefits against self attested EP copy of Shipping Bills (in cases where original EP copy of Shipping Bill has been negotiated by the Bank).

Requests have been received from few firms stating that original EP-cum-Exchange Control copy of Shipping Bill have been submitted to the Bank by them for negotiation purpose and the same is not receivable from the Bank and they have requested to consider their claims under VKGUY and FMS/FPS Schemes on the basis of submission of self attested copies of the Shipping Bills.

2.   The matter has been examined in the DGFT. It has been decided that before granting benefits under these Schemes, the following documents may be furnished by the applicant:

i]    An Affidavit and Indemnity Bond, where the applicant clearly states that the original EP copy was handed over to the Bank for negotiation purpose, along with a letter from the Bank confirming the same;

ii]   Self attested photocopy of the Shipping Bill be submitted by the applicant.

3.   RA to impose a cut of 2% on the entitlement as indicated in Para-2.60 of HBP v1.

4.   This issues with the approval of DGFT.