Government of India
Department of Commerce
Ministry of Commerce and Industry
Directorate General of Foreign Trade
Udyog Bhavan, New Delhi
Public Notice No. 47 /2009-2014 (RE- 2013)
Dated: 8th January, 2014
Subject- Processing of claims where an exporter gets payment by Insurance
Agencies (not through banks).
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade
Policy, 2009-14, the Director General of Foreign Trade hereby makes the
following amendment in paragraph 2.25.2 of the Handbook of Procedures (Vol. I)
2009-14 with immediate effect:
2. After para 2.25.2 of HBP (Vol. I) two new sub para 2.25.2 (a) & (b) are being
added. The new Paras shall read as under:
“2.25.2 (a) An applicant realizing export proceeds through Insurance Agency will
approach the concerned RA with the proof of payment issued by the concerned
Insurance Agency. RA after satisfying itself of the bona fide of the claim, will
obtain approval of Additional DGFT (EDI) and then will upload the value (in lieu
of eBRC value) in EDI system of DGFT for processing of the case.
(b) If the proof of payment issued by the Insurance Agency mentions claim value
both in foreign exchange and INR, RA will use the foreign exchange value for
processing. If the claim value is mentioned only in equivalent INR, RA will
convert this INR value in equivalent US$ using the exchange rate (published by
CBEC) applicable on the date of settlement of insurance claim”.
Effect of Public Notice: A procedure for processing of claims in respect of
realization of export proceeds through insurance agency is being introduced.
(Anup K. Pujari)
Director General of Foreign Trade
E-mail: dgft@nic.in
[Issued from file No. 01/93/180/40/AM-14/PC-2(B)]