All Authorized Dealers in
Foreign Exchange,

Dear Sirs,

IMPORT OF FREE LIST ITEMS ON
CONSIGNMENT BASIS

In terms of Para 2(I) of F.E. Circular No.86 dated the 5th September, 1990, contract for import on consignment basis against import Licenses is to be registered by the Authorized Dealers whose name appears on the import license. A question has been raised whether the importers desirous of making imports of free list items on consignment basis can get the contracts registered with a bank other than the bank holding the original category pass book.

2. It is clarified that the Authorized Dealers are permitted to handle such imports for their customers whose original category pass books are held with other bank provided the customer holds valid registration with the CCI&E as an importer. To this end, authenticated photo copies of the category pass books may be had from the bank with which the original one is kept. It should be noted that the above instructions would apply only to the "freely importable items" which are exempt from Import License requirement.