Filing of Application

4.33

An application for grant of DFRC may be made to the Regional Authority concerned in the form given in ‘Aayaat Niryaat Form’ alongwith the documents prescribed therein. An application for DFRC shall be filed only after realisation of export/supply proceeds.

However, in case of exports/supplies against:

(a) 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 irrevocable inland letter of credit in case of status holders/confirmed irrevocable inland letter of credit in case of others [OLD- confirmed irrevocable inland letter of credit ] or

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

(b) bill of exchange is unconditionally Avalised/ Co-Accepted/ Guaranteed by a bank and the same is confirmed by the exporters bank,

the application may be filed after exports/supplies.

The FOB value shall be calculated on the basis of the Bank Realisation Certificate. However in case of exports of gold/ silver/ platinum jewellery and articles thereof, the CIF value would be computed from the FOB value as per the value addition given in paragraph 4A.2.1 of Handbook of Procedures (Vol.1).