Eximkey - India Export Import Policy 2004 2013 Exim Policy
DGFT Foreign Trade Policy  Exim Policy (01/04/2002 to 31/03/2003) PARA 6.6
PARA 6.6

    (a) On approval, a Letter of Permission (LOP)/Letter of Intent (LOI) shall be issued by the Development Commissioner to EOU/EPZ/EHTP/STP unit. The LOP/LOI shall have an initial validity of 3 years. Its validity may be extended by another 3 years, beyond initial validity, by the competent authority. However, proposals approved prior to 1.4.2002 shall be considered on case to case basis by the BOA

    ((a) has been amended vide Ntf. No. 17/2002-07, Dt. 07/11/2002)

    [OLD - (a) On approval, a Letter of Permission (LOP)/Letter of Intent (LOI) shall be issued by the Development Commissioner to EOU/EPZ/EHTP/STP unit. The LOP/LOI shall have an initial validity of 3 years. Its validity may be extended by another 3 years, beyond initial validity, by the competent authority. ]

    (b) LOP/LOI issued to EOU/EPZ/EHTP/STP units by the concerned authority would be construed as a licence for all purposes, including for procurement of raw materials and consumables either directly or through designated State Trading Enterprise. Standard format for LOP/LOI for EOU/EPZ units is given in Appendix 14-C.

    (c) The unit shall execute a legal undertaking with the Development Commissioner concerned and in the event of failure to fulfil the performance, as stipulated in Appendix I of the Policy, it would be liable to penalty in terms of the legal undertaking or under any other law for the time being in force.

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