ENA Sectors 2018-03-14 05:45:42 <p><strong>New Delhi, Mar 14 (KNN)</strong> The Directorate General of Foreign Trade (DGFT) has deleted the provision on Irrevocable Letter of Credit from the Handbook of Procedure 2015-20.</p> <p>The para 2.86 of HBP 2015-20 states that, In cases where applicant applies for duty credit scrip/ discharge of EO against confirmed irrevocable letter of credit (or bill of exchange which is unconditionally Avalised/ Co-Accepted/ Guaranteed by a bank) and this confirmed and certified by exporters bank in relevant Bank Certificate of Export and Realization, payment of export proceeds shall be deemed to have been realized.</p> <p>For Status Holders, irrevocable Letter of Credit will suffice, it added.</p> <p>In a notification on March 13, DGFT said, Para 2.86 of Handbook of Procedure (2015-20) is deleted. <strong>(KNN Bureau)</strong></p> 19313 http://knnindia.co.in/news/newsdetails/sectors/dgft-deletes-provision-on-irrevocable-letter-of-credit-from-hbp-2015-20 2018-03-14 05:45:42 knnindia.co.in