| Foreword |
1.1 |
The Foreword spells out the broad framework. |
| Duration |
1.2 |
The Foreign Trade Policy 2 009-2014 (FTP), incorporating provisions
relating to export and import of goods and services, shall come into
force with effect from 2 7th August, 2 009 and shall remain in force
upto 31 st March, 2014 unless otherwise specified. All exports and
imports upto 2 6th August 2 009 shall be accordingly governed by the FTP
2004-2009. |
| Amendments |
1.3 |
Central Government reserves right in public interest to make any
amendments by notification to this Policy in exercise of powers
conferred by Section 5 of FT(D&R) Act. |
| Transitional Arrangements |
1.4 |
Authorisation issued before commencement of FTP shall Arrangements
continue to be valid for the purpose and duration for
which such Authorisation was issued, unless otherwise stipulated |
| |
1.5 |
In case an export or import that is permitted freely under FTP is
subsequently subjected to any restriction or regulation, such export or
import will ordinarily be permitted notwithstanding such restriction or
regulation, unless otherwise stipulated, provided that shipment of
export or import is made within original validity with respect to
available balance and time period of an irrevocable commercial letter of
credit, established before date of imposition of such restriction. |
| |
|
However for operationalizing such irrevocable commercial letter of
credit the applicant shall have to register the Letter of Credit and
contract with the concerned RA within 15 days of the issue of any such
restriction or regulation. |