EPCG BANK GUARANTEE
To
The President of India,
Through The Assistant / Deputy Commissioner of Customs,
Customs House,
Tuticorin.
In consideration of the President of India, acting through the Asst/ Deputy Commissioner of Customs or any other authority for the time being authorized to perform the duties of the Asst/ Deputy Commissioner of Customs, Tuticorin ( hereinafter referred to as the Government) having agreed to grant to M/s…………….
…………………. IMPORTER NAME AND ADDRESS (hereinafter referred to as importer / exporter ) A licence being original EPCG licence no. (hereinafter referred to as licence for the import of the goods mentioned therein) for a Bank Guarantee amount of Rs………..( Rupees Amount in words) under the EPCG scheme notified by the Government under the Foreign Trade Policy and Procedure 2009-2014 be amended from time to time (hereinafter referred to as scheme) on the terms and conditions specified in the said licence which term inter alia stipulates production of a Bank guarantee for Rs………….(Rupees Amount in words only).
1. We, ……………….(BANK NAME) (hereinafter referred to as bank) at the request of the importer / exporter do hereby unconditionally and irrevocably undertake to pay the Government an amount not exceeding Rs. ( Rupees Amount in words only). against any loss or damage caused to or suffered by the cornment by reason of any failure on the part of the said Importer / Exporter of any of the terms or conditions contained in the said license including the export obligation mentioned therein.
2. We, ……………….(BANK NAME) do hereby undertake to pay the amounts due and payable under this guarantee without any demur or protest, merely on a demand from the Government stating that the amount claimed is due by way of loss or damage caused or suffered by the Government by reason of breach by the Importer/Exporter of any of the terms or conditions of the said licence. Any such demand made on the Bank shall be conclusive as regards the amount due and payable by the Bank under these presents.
3. We, ……………….(BANK NAME) undertake to pay to the Government any money so demanded notwithstanding any dispute or disputes raised by the Importer/Exporter in any suit or proceeding pending before any court or Tribunal relating thereto and our liability under these presents being absolute and unequivocal.
4. We, ……………….(BANK NAME) further agree that the guarantee herein contained shall remain in full force and effect during the period that would be taken for the performance of the said licence and that it shall continue to be enforceable till all the obligations of the Importer/Exporter under or by virtue of the said Government of till the Deputy Commissioner of Customs, Tuticorin or any Licensing authority for the time being authorised to perform the duties of the Deputy Commissioner of Customs, Certifies that the terms and conditions of the said Licence have been fully and properly carried out by the Importer/Exporter and accordingly discharges this guarantee provided.
5. We, ……………….(BANK NAME) Further agree with the Government that the Government shall have the fullest liberty without our consent and without affecting in any manner our obligations hereunder.
(i) to vary any of the terms and conditions of the said Licence and modify the said scheme from time to time or
(ii) to extend time of performance by the said Importer/Exporter from time to time or to postpone for any time or
(iii) from time to time any of the powers exercisable by the Government against the said Importer/Exporter and to forbear or enforce any of the terms and conditions relating to the said Licence and we shall not be relieved from our liability by reason of any such variation, or extension being granted to the said Importer/Exporter for any forbearance, act or omission on the part of the Government or any indulgence by the Government to the said Licensee or by any such matter or thing whatsoever which under the law relating to sureties would, but for this provision, have effect of so relieving us.
That this shall be a continuing Bank Guarantee and shall not be discharged by any change inv the constitution of the importer/exporter or of the Bank.
SCHEDULE
1. / Import License No & Date2. / Name of the Vessel
3. / Description of Cargo / .
4. / No.of Machines
5. / B/L No & Date
6. / B/E No. & Date
7. / C&F Value declared
8. / Assessable value
9. / Duty on merit
( 5%+6%+3%+4%)
10. / Duty Concession (3%+3%)
11. / Duty Saved Amount
12. / Bond Value
13. / BG Amount
That the guarantor will not revoke the guarantee without prior written consent of the Government. Notwithstanding anything contained herein before our liability under this guarantee shall
a) Our liability under this bank guarantee shall not exceed Rs…………( Rupees Amount in words only.)
b) This bank guarantee is valid till (here till date) and the same shall stand automatically renewed by us until invoked or cancelled by the Government thereafter. The guarantee will not be forfeited & we shall not be relieved or discharged from all liabilities there under without prior written concurrence from the Government.
for ……………….(BANK NAME) (indicate the name of the Bank)”.
“Dated the day of , year 2013
ACCEPTED ON OR BEHALF OF
THE PRESIDENT OF INDIA
ASSISTANT COMMISSIONER OF CUSTOMS
CUSTOMS HOUSE, TUTICORIN
LUT Bond for availing duty exemption under Advance Licence / EPCG Scheme
To
The President of India,
Through The Assistant / Deputy Commissioner of Customs,
Customs House / St. John ICD,
Tuticorin.
I / we, M/s. ……………..(Company Name) (which expression shall, unless repugnant of the context or meaning thereof include our heirs, successors, executors, administrators, liquidators, legal representatives and assignees) hereby hold and firmly bind ourselves jointly and severally unto the President of India, acting through the (jurisdictional Deputy / Assistant Commissioner of Customs) Department of Revenue, Ministry of Finance, Government of India, hereinafter referred to as ‘the Government’ in the sum of Rs………….. ( Rupees Amount in words only) for which payment to be well and truly made, I / we, the obligor (s) bind myself/ ourselves by these presents.
WHEREAS I/ we, the obligor (s), have imported goods listed in Annexure I availing customs duty exemption in terms of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 022/2013 Cus dated the 18.04.2013 (hereinafter referred to as the said notification) against the Import Licence No. …………….. DTD. (hereinafter referred to as the licence) for the import of the goods mentioned therein on the terms and conditions specified in the said notification and licence.
WHEREAS I/ we the obligor (s) is / are manufacturer exporter (s) holding registration No. dated with the (name and address of the registering Central Excise authority to be mentioned)
WHEREAS I/ we the obligor(s) has/ have undertaken to fulfil the export obligation as specified in the said notification and the licence and to produce evidence of having so fulfilled the export obligation within 30 days from the expiry of the specified Export Obligation period to the satisfaction of the Government.
Now the conditions of this Bond are that
1. I / we, the obligor(s) shall observe all the terms and conditions of the said notification.
2. I / we, the obligor(s) shall observe all the terms and conditions specified in the licence.
3. I / we, the obligor(s), shall fulfil the export obligation as specified in the said notification and the licence and shall produce evidence of having so fulfilled the export obligation within 30 days from the expiry of the specified export obligation period to the satisfaction of the Government.
4. In the event of failure to fulfil full or part of the export obligations as specified in the said notification and the licence,I/ we, the obligor(s), hereby undertake to pay the customs duty but for the exemption and also interest @ 18% per annum thereon forthwith and without any demur, to the Government.
5. I/ we, the obligor(s), shall comply with the conditions and limitations stipulated in the said Import and Export Policy / Foreign Trade Policy as amended from time to time.
6. I / we, the obligor(s), shall not change the name and style under which we, the obligor(s), are doing business or change the location of the manufacturing premises except with the written permission of the Government.
If each and everyone of the above condition is duly complied with by us, the obligor(s), the above written bond shall be void and of no effect; otherwise the same shall remain in full force and effect and virtue.
It is hereby declared by us, the obligor(s) and the Government as follows:
1. The above written bond is given for the performance of an act in which the public are interested.
2. The Government through the Commissioner of Customs or any other officer of Customs shall recover the sums due from the obligor(s) in the manner laid down in sub-section(1) of the section 142 of the Customs Act, 1962.
Provided always that the liability of the surety here under shall not be impaired or discharged by reason of any time being granted, or any forbearance, act or omission of the Government (whether with or without the knowledge or the consent of the surety) in respect of or in relation to the obligation and condition to be performed or discharged by the obligor(s) nor shall it be necessary to sue the obligor(s) before suing the surety for amounts here under.
AND the president of India shall, at his option, be competent to make good all the loss and damages by endorsing his rights under the above written bond.
I/ we further declare that this bond is given under the orders of the Central Government in the Performance of an act in which the public are interested.
In these presents the words imposing singular shall also include the plural and vice-versa where the context so requires.
IN WITNESS HEREOF these presents have been signed this day of 2013 herein before written by the obligor(s) and the surety (ies).
Place:
Date:
(Signature of the Obligor)
Witness(1) name and address (1) occupation (1) Signature
(2) name and address (2) occupation (2) Signature
*As per Para 3 of Board’s Circular No.58/2004-Cus. Dated the 21st October, 2004
ACCEPTED ON OR BEHALF OF
THE PRESIDENT OF INDIA
ASSISTANT COMMISSIONER OF CUSTOMS
CUSTOMS HOUSE, TUTICORIN
SCHEDULE
1. / Import License No & Date2. / Name of the Vessel
3. / Description of Cargo
4. / No.of Machines
5. / B/L No & Date
6. / B/E No. & Date
7. / C&F Value declared
8. / Assessable value
9. / Duty on merit
( 5%+6%+3%+4%)
10. / Duty Concession (3%+3%)
11. / Duty Saved Amount
12. / Bond Value
AFFIDAVIT
WE M/s. ……….. (Company Name & Address) DO HEREBY SOLEMNLY AFFIRM AND SINCERELY STATE AS FOLLOW
WE ARE MANUFACTURER EXPORTER ENGAGED IN THE MANUFACTURE OF COTTON YARN AND SUPPLY THE SAME TO OVERSEAS BUYERS.
WE ARE OPERATING UNDER THE EPCG SCHEME.
WE HEREBY DECLARE THAT WE HAVE NOT BEEN PENALISED UNDER ANY OF THE PROVISONS OF CUSTOMS ACT, CENTRAL EXCISE ACT, FOREIGN EXCHANGE MANAGEMENT ACT AND FOREIGN TRADE (DEVELOPMENT AND REGULATION) DURING THE LAST THREE FINANCIAL YEARS. WE HAVE NOT DEFAULTED ON THE EXPORT OBLIGATION IN RESPECT OF ANY ADVANCE LICENCE/EPCG LICENCE ISSUED TO US IN THE PAST.
WE TAKE OATH AND SOLEMNLY AFFIRM THAT THE PARTICULARS GIVEN AS ABOVE ARE TRUE AND CORRECT AND THAT WE HAVE NOT SUPRESSED OR MISREPRESENTED ANY FACTS.
PLACE:
DATE :