Policy Circular No. 63 (RE-2010)/2009-14,Dated the 16th May, 2012

Subject:- Amendment in the conditions and modalities for registration of contracts with DGFT for export of sugar.

Policy Circular No. 62(RE-2010)/2009-14 dated 14.05.2012 prescribed the conditions and modalities for registration of contracts with DGFT for export of sugar in the current sugar season (1st October, 2011-30th September, 2012).

2. It has been decided to modify certain provisions of the Policy Circular No. 62(RE-2010)/2009-14 dated 14.05.2012 as under:

(i) The application for issue of RC can be for an amount upto a maximum quantity of 25,000 MT (Twenty five thousand metric tons). Earlier this limit was 10,000 MT per RC. [Please refer Para 3 of Policy Circular No. 62(RE-2010)/2009-14 dated 14.05.2012].

(ii) In addition to export against Letter of Credit (LC) and/or FIRC, export would also be permitted against Cash Against Documents (CAD). Exporters have to indicate type of instrument (LC/FIRC/CAD) while applying for issue of RC. [Please refer Sub- para (i) of Para 4 of Policy Circular No. 62(RE-2010)/2009-14 dated 14.05.2012].

(iii) Export against RC shall be completed within a period of 60 days from the date of issuance of such certificate. Earlier this was given as 30 days. [Please refer Para 5 of Policy Circular No. 62(RE-2010)/2009-14 dated 14.05.2012].

(iv) An applicant is at liberty to seek split RCs for export through more than one port, within the overall quantity limit of 25,000 MTs.

(v) Application for second and subsequent RC can be submitted only on completion of at least 50% of export against RC issued to the exporter (quantity permitted in the RC as a whole is to be taken for calculation, not quantity split RC-wise). Exporters have to submit the proof of such exports. [Please refer Para 7 of Policy Circular No. 62(RE-2010)/2009-14 dated 14.05.2012].

3. Export against Release Order issued prior to 14.05.2012 (date of issue of Notification No. 117) by the Directorate of Sugar, Department of Food & PD will continue to be governed by the terms and conditions of the relevant Release Order.

4. There shall be no other change.

5. This issues with the approval of Director General of Foreign Trade.

(Hardeep Singh)

Joint Director General of Foreign Trade

Email: hardeep.singh@nic.in

(Issued from F.No 01/91/180/879/AM08/Export Cell/Part)

 

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