Attention of Authorized Dealers (ADs) is invited to instructions contained in Para 5(ii) and 15B(ii) of Chapter 12 (Exports) of Foreign Exchange Manual, whereby exporters of goods are required to file Undertaking/Declaration in PSW system for receipt of payments through an AD, as prescribed by the State Bank of Pakistan. The undertaking/declaration for exports were earlier part of the Manual E-Form/ Electronic Form-E (EFE).
2. Considering the evolving business dynamics and system upgradations, it has been decided to amend the Undertaking/Declaration and the new format is attached as Appendix V-10A.
3. Henceforth, ADs are advised to obtain the revised Undertaking/Declaration from the exporters through the PSW system at the time of initiating their respective export transactions. Further, to mitigate any potential legal risks, ADs may obtain the revised Undertaking/ Declaration duly signed by Exporters in manual form as well.
4. ADs are advised to bring the above instructions to the notice of all their constituents and ensure meticulous compliance.
Encl: Appendix V-10A