>

FTP

>

The Foreign Trade Policy (FTP), 2015-20

>

Execution of Legal Undertaking (LUT) / Bank Guarantee (BG)

<< Back  

Execution of Legal Undertaking (LUT) / Bank Guarantee (BG) View Pdf    

 
 
 (a) Wherever any duty free import is allowed or where otherwise specifically stated, importer shall execute, Legal Undertaking (LUT) / Bank Guarantee (BG) / Bond with the Customs Authority, as prescribed, before clearance of goods.
 
(b) In case of indigenous sourcing, Authorisation holder shall furnish LUT/BG/Bond to RA concerned before sourcing material from indigenous supplier/nominated agency as prescribed in Chapter 2 of Handbook of Procedures.