4.44

In cases where the applicant applies for DEPB after realisation or shipments are made against irrevocable letter of credit in case of status holders/confirmed irrevocable letter of credit in case of others [OLD- confirmed irrevocable letter of credit ] or bill of exchange is unconditionally Avalised/ Co- Accepted/ Guaranteed by a bank and the same is confirmed by the exporters bank and certified by the bank in the relevant Bank certificate of export and Realisation, the DEPB shall be issued with transferable endorsement. In other cases, the DEPB shall be initially issued with non-transferable endorsement. Upon realisation of export proceeds, such DEPBs can be endorsed as transferable, if the applicant so desires.

(Expression "irrevocable letter of credit in case of status holders/confirmed irrevocable letter of credit in case of others" has been substituted vide PN. NO. 33/2006, DT. 17/07/2006)