Execution of BG/LUT in respect of EPCG Licences

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..... ttention is invited to Para 4.19 of the Export and Import Policy, 1997-2002 (RE-2000), which stipulates that wherever any duty free import is allowed or where otherwise specifically stated, the importer shall execute a Legal Undertaking (LUT)/ Bank Guarantee (BG) with the Customs Authority before clearance of goods through the Customs, in the manner as may be prescribed by them. Attention is also .....

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..... that the Bank Guarantee will be executed by the EPCG Licence holder in terms of para 4.19 of the Export and Import Policy, 1997-2002 (RE-2000) with the Customs authorities concerned before clearance of goods in the manner as may be prescribed by the Customs authorities. This issues with the approval of Director General of Foreign Trade. Yours faithfully, (A. K. Sinha) Dy. Director General .....

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