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 )

THE GAZETTE OF INDIA EXTRAORDINARY

[PART "I—SEC 1]

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 the 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^[INe^SwSianSF^re^Oign

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^ loury

m a i n^tain^all^the^relevant

furnished to the^s^ ^{d i}^ ^uthorlfceg au sucn

^ ^

Boodg

SS.^CS3S5^g«S^!«SiSSⁱSArBSd m enable representative, of the

[PART I—SEC. I]

THE GAZETTE OF INDIA EXTRAORDINARY

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 licences under Swedish Development

Co-operation Agreement. 1972

(To be furnished separately in respect of each Licence)

(Report of utilisation for the quarter ending

•—)

1. Name of the Importing Firm.

2. Particulars of Swedish Credit.

3. No. and date of the Import Licence.

4. Value of the Import Licence.

5. Value of orders placed.

6. Value of orders yet to be placed.

7. Total payment made to the foreign suppliers upto the end of last quarter.

8. Details of payments to the foreign suppliers during the quarter under

report: —

S. No.

(i)

(11)

(Hi)

Date of

payment

Amount actually paid (to be indicated in the foreign

currency involved)

Total

9. Total payment made to the foreign supplier upto the end of the quarter

under report.

10. Payments yet to be made with a quarterly estimate of payments (with

values and anticipated dates of payment).

11. Value of the complete documents (Form 'A') forwarded so far to the

Ministry of Finance.

12. Surrenders, if any.

Signature of the authorised

Officer of the Importing Firm.

ANNEXURE II

Report snowing

details of refunds

received

from

suppliers /shippers

/insurers

(towards

settlement

of claims for short landings,

damages etc.) in respect of

Imports under Indo-Swedish

Development

Co-operation

Agreement, 1972.

1, Name Of the Importing Firan*

2. Particulars of Swedish Credit.

1HB GAZETTE OF INDIA EXTRAORDINARY

[PART 1—$EC. 1]

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.