Please
refer to BSD Circular No. 35 dated the 28th September
2001 on the captioned subject.
2. In order to provide
a clear understanding to banks while granting facilities under
Export Finance Scheme to the exporters, it has been decided
to define the term ‘export overdue’ as under :-
“Overdue
Export Proceeds are those where an exporter
is unable to repatriate the export proceeds within
180 days from the date of shipment or within such periods
as may be determined for the purpose by the State Bank for
a particular sector, as notified from time to time, or on
due date of the bill whichever is earlier.”
The
banks are therefore advised to ensure that the exporters who
have overdue export bills against any finance availed by them
under the Scheme should not ordinarily be eligible to avail
the facility of concessionary export finance. However, in
case the export proceeds have not been repatriated for reasons
beyond the control of the exporters, the bank concerned may
allow the facility after recording in writing the reasons
for the same.
3. Accordingly,
following additions are made in the prescribed Form “B” and
“D” of the captioned Scheme :-
a)
Form “B”
Viz. Application / Undertaking
Please
add as Para 13: -
“I/We,
M/s. ___________certify that no export bills except those
mentioned below are overdue for repatriation, the details
of which are as under: -
Sr.No.
E.Form No.
Shipment Date
Amount (Fcy)
Banks
I/We
further certify that the export proceeds on the above mentioned
bills have
not been repatriated for the following reasons which
are beyond my / our control.
-------------------------------------
------------------------------------.”
b)
Form “D” viz.
Refinance Claim
Form.
Please
add serial No.19 with under noted items :-
Please
acknowledge receipt
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