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)
6th Nov. 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).
DGFT has issued a Policy Circular No.15/2009-14 dt.5th Nov. 2009 stating that the exporters can now avail the FPS/FMS Benefits in cases where the Export Promotion (EP) copy of the Shipping Bill against submitting the following documents.
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
The Circular also states that the Regional Authority is to impose a cut of 2% on the entitlement as indicated in Para- 2.60 of HBP v1. As per Procedure laid down in Para 2.60 (b) of Hand Book of Procedures, 2009-14, in case where EP coy of Shipping Bill/original BRC has been lost, claim under VKGUY/FMS/FPS can be considered subject to submission of following documents :
(b) An application fee equivalent to 2% of the relevant entitlement. However, no fee shall be charged when such document is lost by Government agencies and a documentary proof to this effect is submitted.
A copy of the above circular is attached herewith for ready reference.
Members may kindly take note of the above.
Ali Ahmed Khan