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DGFT Hand Book of Procedures Foreign Trade Procedure (upto 07/04/2005) PARA 4.15.4

4.15.4

The responsibility of the bank shall be confined to making the endorsement. The bank shall not be liable for any misrepresentation or false statement made by the licensee while requesting the bank to make the endorsement. The inland LC opened by the bank in favour of the indigenous supplier shall not be canceled for any reason whatsoever.

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