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Form 1 Declaration - Cum-Undertaking: (Under Section 10 (5), Chapter III of The Foreign Exchange Management Act, 1999)

1) The document is a declaration and undertaking form required under Section 10(5) of the Foreign Exchange Management Act of 1999. 2) It declares that any foreign exchange transactions done through the bank do not and will not violate the Act or any related regulations. 3) It also agrees to provide any reasonable information or documents to verify the transactions and understands that refusing to comply can result in the bank refusing the transaction or reporting the matter to the Reserve Bank of India.

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1K views1 page

Form 1 Declaration - Cum-Undertaking: (Under Section 10 (5), Chapter III of The Foreign Exchange Management Act, 1999)

1) The document is a declaration and undertaking form required under Section 10(5) of the Foreign Exchange Management Act of 1999. 2) It declares that any foreign exchange transactions done through the bank do not and will not violate the Act or any related regulations. 3) It also agrees to provide any reasonable information or documents to verify the transactions and understands that refusing to comply can result in the bank refusing the transaction or reporting the matter to the Reserve Bank of India.

Uploaded by

rajeshraihari
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as ODT, PDF, TXT or read online on Scribd

Form 1

DECLARATION –cum-UNDERTAKING
(Under Section 10(5), Chapter III of The Foreign Exchange Management Act, 1999)

I/We hereby declare that the transaction the details of which are specifically mentioned in the
Schedule hereunder does not involve, and to the best of our knowledge and belief is not
designed/intended or will result in any contravention or evasion of the provisions of the aforesaid Act
or of any rule, regulation, notification, direction or order made thereunder.

I/We also hereby agree and undertake to give such information/documents as will reasonably
satisfy you about this transaction in terms of the above declaration.

I/We also understand that if I/We refuse to comply with any such requirement or make only
unsatisfactory compliance therewith, the Bank shall refuse in writing to undertake the transaction and
shall if it has reason to believe that any contravention/evasion is contemplated by me/us report the
matter to Reserve Bank of India.

*I/We further declare that the undersigned has/have the authority to give this declaration and
undertaking on behalf of the firm/company.

________________________
Signature of the Applicant
for Foreign Exchange.

Place:
Date :

*Applicable when the declaration/undertaking is signed on behalf of the firm/company.


____________________________________________________________________

SCHEDULE

All foreign exchange transactions as may be entrusted by us to the Bank from time to time.
____________________________________________________________________
For Office use
NOTE: (Details of information/documentary evidence to be verified/recorded separately for each
transaction).

Signature Verified

_________________________
Branch Head / Head Operations

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