This document is a shipping bill declaration under the Foreign Exchange Regulation Act of 1973. It contains the seller/consignor's declaration that the value declared in the shipping bill for the exported goods is true and represents either the contracted value with the buyer or their best estimate of the value expected to be received in the overseas market. It also contains the seller's undertaking to deliver the full foreign exchange value of the exported goods to the bank within 6 months, as well as declarations that the seller is resident in India and has a place of business there.
This document is a shipping bill declaration under the Foreign Exchange Regulation Act of 1973. It contains the seller/consignor's declaration that the value declared in the shipping bill for the exported goods is true and represents either the contracted value with the buyer or their best estimate of the value expected to be received in the overseas market. It also contains the seller's undertaking to deliver the full foreign exchange value of the exported goods to the bank within 6 months, as well as declarations that the seller is resident in India and has a place of business there.
This document is a shipping bill declaration under the Foreign Exchange Regulation Act of 1973. It contains the seller/consignor's declaration that the value declared in the shipping bill for the exported goods is true and represents either the contracted value with the buyer or their best estimate of the value expected to be received in the overseas market. It also contains the seller's undertaking to deliver the full foreign exchange value of the exported goods to the bank within 6 months, as well as declarations that the seller is resident in India and has a place of business there.
Declaration under Foreign Exchange Regulation Act, 1973.
1. I / We hereby declare that I / We am / are the Seller / Consignor of the goods in Respect of which the declaration is made against the particulars given in the Shipping Bill No dated are true and that:
(a) The value as contracted with the buyer is the same as the full export value declared in the above shipping bills.
(b) The full export value of the goods is not ascertainable at the time of export and that the value declared is that which I/ We, having regard To the prevailing market conditions, expect to receive on the sale of goods in the overseas market.
2. I / We undertake that I / We will deliver to the bank named herein the foreign exchange representing the full export value of the goods on or before 6 Months in the manner prescribed in Rule 9 of the Foreign Exchange Regulation Rule.1974.
3. I /We are further declaring that I / We am/are resident in India and I / we have a place of business in India.
4. I / We are / are OR are / are not in Caution List of the Reserve Bank of India.
A Simple Guide for Drafting of Conveyances in India : Forms of Conveyances and Instruments executed in the Indian sub-continent along with Notes and Tips
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