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REGD. NO. D. L.-33004/99

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EXTRAORDINARY

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PART I—Section 1

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PUBLISHED BY AUTHORITY

la- 10]

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NEW DELHI, WEDNESDAY, JANUARY 8, 2014/PAUSHA 18, 1935

94 GI/2014

(1)

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MINISTRY OF COMMERCE AND INDUSTRY

(Department of Commerce)

(DIRECTORATE GENERAL OF FOREIGN TRADE)

PUBLIC NOTICE

New Delhi, the 8th January, 2014

No. 47 (RE-2013)/ 2009-2014

Subject : Processing of claims where an exporter gets

payment by Insurance Agencies (not through

banks).

F. No. 01/93/180/40/AM-14/PC-2(B).—In exercise

of the powers conferred under Paragraph 2.4 of the

Foreign Trade Policy, 2009-14, the Director General of

Foreign Trade hereby makes the following amendment in

paragraph 2.25.2 of the Handbook of Procedures (Vol. I)

2009-14 with immediate effect :

2

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART I—SEC. 1]

Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064

and Published by the Controller of Publications, Delhi-110054.

2. After para 2-25-2 of HBP (Vol.I) two new

sub-para 2-25-2(a) & (b) are being added. The new Paras

shall read as under :

‘‘2-25-2 (a) An applicant realizing export proceeds through

Insurance Agency will approach the concerned

RA with the proof of payment issued by the

concerned Insurance Agency. RA after

satisfying itself of the bona fide of the claim will

obtain approval of Additional DGFT (EDI) and

then will upload the valure (in lieu of eBRC

value) in EDI system of DGFT for processing of

the case.

(b) If the proof of payment issued by the

Insurance Agency mentions claim value both

in foreign exchange and INR, RA will use the

foreign exchange value for processing. If the

claim value is mentioned only in equivalent INR,

RA will convert this INR value in equivalent

US$ using the exchange rate (published by

CBEC) applicable on the date of settlement of

insurance claim”.

Effect of this Public Notice: A procedure for

processing of claims in respect of realization of export

proceeds through insurance agency is being introduced.

ANUP K. PUJARI, Director General of Foreign Trade