4A.15.8

The exporter may also obtain, in advance, gold/ silver/ platinum etc. supplied by the foreign buyer by furnishing a bank guarantee for an amount equal to the international price of such items and Bank Guarantee/LUT, as the case may be for the customs duty payable thereon. The bank guarantee/LUT shall be redeemed only when the exporter has furnished proof of exports to the Nominated Agency and accounted for the use of items supplied in advance in the export product.