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REGISTERED No. D.221

The Gazette of India

EXTRAORDINARY

PART I-Section 1

PUBLISHED BY AUTHORITY

No. 14] NEW DELHI, MONDAY, JANUARY 22, 1973/MAGHA 2, 1894

Separate paging is given to this Part in order that it may be filed

as a separate compilation.

MINISTRY OF FOREIGN TRADE

PUBLIC NOTICE

IMPORT TRADE CONTROL

New Delhi, the 22nd January 1973

SUBJECT.—Terms and conditions governing the issurance of import licences under the "Financial Resources" tranche of Ekrs. 15 million in the Indo Swedish Development Co-operation Agreement. 1972,

No. 6-ITC(PN)/73.—The terms and conditions governing the issuance of Import licences under the "Financial Resources" tranche of Skrs. 15 million in the lndo- Swedish Development Co-operation Agreement, 1972 as given in the Appendix to this Public Notice are notified for the information of the trade.

APPENDIX

Conditions to be stipulated in the Import Licence (s) issued under the "Financial Resources" tranche of Skrs. 15 million in the Indo-Swedish Development Co-operation Agreement, 1972.

1. Import licence will be issued on C.I.F. or C & F basis with initial validity period of 12 months. Within a fortnight of the receipt of the import licence the importer should intimate to the Ministry of Finance, Department of Economic Affairs (W.E. II Section) the details of the import licence viz, number and date etc. with a copy to the Controller of Aid Accounts, Ministry of Finance, Department of Economic Affairs, Jeevan Deep Building, Parliament Street, New Delhi.

2. Each import licence will bear prominently a superscription as under—Swerdish Development Co-operation Agreement, 1972—Financial Resources tranche. This indication will also be repeated on the letter from the CCI&E forwarding the

(51 )

Import licence. The first two suffixes after the licence number should be "R/Sw" I.e. Swedish Credit licence under reimbursement procedure.

3. Firm Orders on a c.l.f. or C & F basis must! be placed within four months of the date of issue of the import licence. The authorised dealers in foreign exchange will not allow remittances or facilities to establish letters of credit unless orders are placed within the prescribed period of four months. In case the importer is not able to place orders within this period for any reason, he should approach the licence-issuing authority with detailed justification for getting the prescribed period for ordering suitably extended. The licensing authorities will extend t he validity period for ordering' upto a suitable date, after considering the application on merits. Only on production of the letter of extension by the licensee, will the authorised dealers permit the facility of establishing letter of credit etc.

In cases where orders have not been placed for the full value of the licence within the prescribed period, extension In the period of ordering will have to bo obtained from the licence issuing authority for operating the balance values which are not covered by orders placed.

4. The licence will be issued with an initial validity period of 12 months from the date of issue. All payments must be completed within a month of the expiry of the licence.

5. Payments to the suppliers can be arranged through normal banking channels by establishing letters of credit, or on a collection basis. Any payments towards Indian Agent's commission should be made in rupees in India. Such payments, however, will form part of the licence value and will be charged to the licence.

6. Orders must be placed on a cash basis. The licence holder will not be allowed to avail himself of credit facilities from the suppliers.

7 Imports under the licence can be made from any country without restriction, and should as far as practicable be on an international competitive basis. The Government reserves the right to ask the Importer to produce evidence that com- parable bids have been obtained and competitive prices ensured.

8 The value of the orders should be expressed In the currency in which pay-

ment is to be made to the suppliers.

9 For enabling the Government of India to utilise the Swedish Credit funds the licence-holder shouM, at the time of arranging payments, fill in an extra copy of form 'A' (the application form prescribed by the Reserve Bank of India for re- mittances in foreign errancy) for beinK sent by their bankers (authorised dealers irT foreign exchange) direct to the Ministry of Finance, Department of Economic Affairs Aid Accounts Branch, Jeevan Deep Building, 10 Parliament Street, New Deihi-1 under advice to the Importer, as soon as the payment is made. It must be ensued that all The appropriate columns in form 'A' are filled in correctly .and completely. The full licence number and data & value and ^superscription mentioned in condition 2 above should appear on the form 'A' without fail. The £ rm 'A' should beartoe signature of the bank In India certifying the V*y?<*** authored and should indicate the foreign bank In question and the amount and currency of payment.

NB —These arrangements do not absolve the licensee of his responsibility to ensurf'that all forms 'I? are forwarded from time to time by the banks to the Ministry of Finance as indicated above.

ffl'SrthS[INeSwSianSF^reOign Exchange Credit Section of the ffitafe of Industrial Development, until the Ucence is fully utilised.

11. The goods " n ^ ^ " ^ ^ " ^ ^ 5^ Wd^rdJiSS'S efficiency. For a minimum period o^ l o u ry s m a i nt a in all the relevant

furnished to the s^d i^ ^uthorlfceg au sucn ^ ^ B o o dg d SS.CS3S5g"S!"SiSSiSArBSd m enable representative, of the

1 Swedish International Development Authority to study the use of such goods and services if they so request.

12. If any refunds are received by the licensee from the suppliers, the shipper or the insurer, a full report showing the amounts received together with other relevant particulars, should be sent to the Ministry of Finance at the address indicated in condition 9 above, in the form given in Annexure II.

13. It should be understood that the Government of India will not undertake any responsibility for disputes, if any, that may arise between the licensee and the suppliers.

14. The licensee shall promptly comply with any directions, Instructions or orders issued by the Government from time to time regarding any and all matters arising from or pertaining to the import licence and for meeting all obligations arising the Credit Agreement with the Swedish authorities.

ANJNBXUHli; 1

Form of •utilisation report in respect of l i c e n c es u n d er S w e d i sh D e v e l o p m e nt

Co-operation Agreement. 1972

(To be furnished separately in respect of each Licence)

(Report of utilisation for t he q u a r t er ending •—)

1. N a me of t he Importing Firm. 2. Particulars of Swedish Credit. 3. No. a nd date of t he Import Licence.

4. Value of t he Import Licence. 5. Value of orders placed. 6. Value of orders y et to be placed. 7. Total payment m a de to t he foreign suppliers u p to t he e nd of last quarter. 8. Details of p a y m e n ts to t he foreign suppliers during t he quarter u n d er r e p o r t: —

Amount actually paid (to be indicated in t he foreign S. No.

currency involved)

Date of p a y m e nt

(i) (11) (Hi)

Total

9. Total p a y m e nt m a de to t he foreign supplier upto t he e nd of t he q u a r t er u n d er report.

10. P a y m e n ts y et to be m a de with a quarterly estimate of p a y m e n ts (with values a nd anticipated dates of payment).

11. Value of t he complete documents (Form 'A') forwarded so f ar to t he Ministry of Finance.

12. Surrenders, if a n y.

Signature of t he authorised

Officer of t he Importing Firm.

A N N E X U RE II

Report snowing details of refunds received from suppliers /shippers /insurers

(towards settlement of claims for short landings, damages etc.) in respect of

Imports u n d er Indo-Swedish Development Co-operation Agreement, 1972.

1, N a me Of t he Importing Firan* 2. Particulars of Swedish Credit.

3. No. and date of the Import Licence. 4. Value of the Import Licence. 5. Amount of refund received. 6. Nature of refund, (give brief details) 7. Reference to the relative Forms 'A' under which payment was made initial- ly to the foreign suppliers (indicate name of the Indian Bank and reference to their letter No. and date, forwarding form 'A' to Ministry of Finance).

8. Whether or not refunds received are to be utilised for replacement of goods, if not, confirm that amount has been actually received by in- ward remittance °f foreign exchange and encashed into rupees.

9. Remarks.

Signature of the authorised officer of the Importing Firm.

K. S. NARANG,

Chief Controller of Imports & Exports.

PRINTED BY THE MANAGER. GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS DELHI I B⁷3