Irrevocable Letter of Credit Provisions from HBoP Deleted

[Public Notice No. 65/2015-2020 dated 13 March 2018]

Subject: -Amendment in Chapter 2 of the Handbook of Procedure (2015-20).

In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy, 2015-2020, the Director Genera l of Foreign Trade hereby deletes the provisions as at Para 2.86 of the Handbook of Procedure (2015-20).

2. Effect of this Public Notice: Para 2.86 of the Handbook pf Procedure (2015-20) is deleted .

The Deleted para is:

2.86 Irrevocable Letter of Credit

In case where applicant applies for duty credit scrip / discharge of EO against confirmed irrevocable letter of credit (or bill of exchange which is unconditionally Avalised / Co-Accepted / Guaranteed by a bank) and this is confirmed and certified by exporter’s bank in relevant Bank Certificate of Export and Realization, payment of export proceeds shall be deemed to have been realized. For Status Holders, irrevocable letter of credit would suffice.