Export of Goods and Services \u2013 Project Exports
11 Dated:- 22-7-2014 Circular
FEMA
Superseded vide A.P. (DIR Series) Circular No. 20 dated 16-01-2026 w.e.f. 01-10-2026<\/p>\n
RBI\/2014-15\/141<\/p>\n
A.P. (DIR Series) Circular No.11<\/p>\n
July 22, 2014<\/p>\n
To<\/p>\n
All Category – I Authorised Dealer Banks<\/p>\n
Madam\/ Sir,<\/p>\n
Export of Goods and Services – Project Exports<\/p>\n
Attention of Authorised Dealers is invited to Regulation 18 of Notification No. FEMA 23\/2000-RB dated 3rd May 2000 viz. Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 in terms of which export of goods or services on deferred payment terms or in execution of a turnkey project or a civil construction contract requires prior approval of the approving authority, which shall consider the proposal in accordance with the guidelines issued by the Reserve Bank from time to time. Further, attention of Authorized Dealers (AD) is also invited to i) A. P. (DIR Series) Circular No. 32 dated October 28, 2<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n i) The structure of Working Group (consisting of representatives from Exim bank, ECGC & RBI), which has hitherto been permitted to consider project exports and deferred service exports proposals for contracts exceeding USD 100 Million in value will now be dispensed with. The AD banks \/ Exim Bank can now consider awarding post-award approvals without any monetary limit and permit subsequent changes in the terms of post award approval within the relevant FEMA guidelines \/ regulations. Project and service exporters may accordingly approach AD banks \/ Exim Bank based on their commercial judgement. The respective AD bank \/ Exim Bank should monitor the projects for which post-award approval has been granted by them; and<\/p>\n ii) The stipulation of time limit of 30 days for the exporter undertaking Project Exports and Service contracts abroad to submit form DPX1\/ PEX-1 \/TCS-1 to the Approving Authority (AA) for seeking post award approval will not apply henceforth.<\/p>\n 3. The revised<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n t Exports' and 'Service Exports' were issued in a booklet form in March 1994. Subsequently, an updated version was published in May 1997. With the introduction of Foreign Exchange Management Act, 1999 (42 of 1999), suitable changes were made in its provisions. Further, changes have been made in the instructions on Project Exports and Service Exports. The directions contained in this Memorandum of Instructions on Project and Service exports (PEM) have been issued under Section 10 (4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) .<\/p>\n C D SRINIVASAN Chief General Manager<\/p>\n Reserve Bank of India Foreign Exchange Department Central Office Mumbai 400 001<\/p>\n 2<\/p>\n Contents<\/p>\n Memorandum PEM<\/p>\n Annexure I List of goods in respect of which commercial export credit may be offered by Indian exporters 27<\/p>\n Annexure II Standard conditions to be stipulated by Exim Bank\/ authorised dealers for various facilities at the time of conveying post award approval for projects<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n terms to overseas buyers in respect of export of goods and those who have been awarded turnkey, civil construction contracts by overseas parties have to secure prior approval at post award stage from Authorised Dealer \/ Exim Bank for credit terms to be offered, third country imports etc. Regulations relating to Project Exports and Service Exports are laid down in this Memorandum which is divided into the following parts:<\/p>\n PART A – General<\/p>\n PART B – Project Exports<\/p>\n PART C – Export of Services<\/p>\n PART D – Other matters connected with Project Exports & Service Exports<\/p>\n Scope of Memorandum<\/p>\n 2. (I) This memorandum contains directions to be observed by the exporters engaged in project exports and service exports as also Export Import Bank of India and authorised dealers while dealing with cases of project\/service exports.<\/p>\n (ii) Directions contained in this Memorandum have been issued under Section 10(4) and Section 11(1) of Foreign Exchange Management Act, 1999 (42 of 1999).<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n foreign exchange for execution of contract (viz. imports from third countries, agency commission, freight, etc.) and overall economics of the proposal.<\/p>\n (b) Nature of security obtainable from the foreign buyers against payments due and nature and extent of various bonds\/guarantees required to be offered by the exporter (including those for procuring third country supplies).<\/p>\n (c) Nature of escalation, force majeure and arbitration clauses provided in the contract and penalty\/damages payment provisions.<\/p>\n (d) Extent of fund-based and non-fund-based facilities required in India including pre-shipment and post-shipment credit and\/or bridge finance requirement.<\/p>\n (e) In case of turnkey contracts, economic and technical viability thereof as well as special features relating to erection, supervision and commissioning of the contract.<\/p>\n (ii) As regards civil construction contracts, the Authorised Dealer \/ Exim Bank will consider proposals only from contractors who are on the approved li<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n rangements between prime contractor and associate\/sub-contractors for timely execution of the contract in case of consortium arrangement.<\/p>\n (c) Whether the contract would need any bridge finance facility abroad to meet temporary cash flow deficits in working capital, if so, the manner of raising the bridge finance and its full repayment with interest.<\/p>\n (iii) In regard to service contracts, Authorised Dealer \/ Exim Bank will, inter alia, take into account relevant factors like size of the contract, nature of services to be rendered, overall economic condition of the importer country, extent of international competition and potential and prospects for further export of services, goods or turnkey projects from India.<\/p>\n (iv) Authorised Dealer \/ Exim Bank may suitably relax the above criteria at its discretion where warranted by merits of the proposal. While considering proposals, Authorised Dealer \/ Exim Bank may also make such suggestions or tender such advice as may be necessary to a<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ance of proper record of exports made on deferred payment terms, exporters should prominently superscribe both copies of relative EDF\/SDF with the name of export contract for which supplies are being made and the number and date of the approval granted by the approving authority (viz. Authorised Dealer, Exim Bank) noted on the EDF\/SDF in the space provided therefor. The duplicate copies of the forms should be retained by authorised dealers duly certified after realisation of the last instalment together with interest from overseas buyers. Similar procedure should be followed by sub-suppliers also while declaring their exports on EDF\/SDF.<\/p>\n (ii) In connection with execution of projects, exporters may sometime be required to export 'consumables' such as tools, tackles, machinery spares etc. for which separate payments will not be made by the overseas buyers. Such consumables will have also to be declared on EDF\/SDF in the same manner as exports of machinery, materials, etc. which are se<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n nt terms will be allowed only for export of engineering goods (capital goods and consumer durables). Turnkey projects involve rendering of services like designing, civil construction and erection and commissioning of plant \/ factory along with supply of machinery, equipment and materials. Execution of civil construction contracts abroad involves mainly erection and civil construction work and supply of construction materials and equipment going into the civil works. Payment in respect of goods supplied under both turnkey and civil construction contracts may be received on 'cash' basis but sometimes exporters are required to offer deferred payment terms in respect of such supplies depending on the nature and size of the project. The terms and conditions governing extension of deferred credit terms are set out in the following paragraphs.<\/p>\n Nature of Credit<\/p>\n B.2 Contracts for export of goods on deferred payment terms may be financed either under supplier's credit or buyer's credit. Un<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ist is subject to revision from time to time. Inclusion of goods in the lists does not imply that their exports may be made only on<\/p>\n 8<\/p>\n deferred payment terms. Exporters should always endeavour to secure the best possible terms from their buyers so that foreign exchange accrues to the country as early as possible.<\/p>\n Period of Deferred Credit<\/p>\n B.4 The periods for which credit may be offered for export of goods, consumer durables, turnkey contracts and civil construction contracts will depend on merits of individual case and may be determined by the exporter and his banker in mutual consultation on the basis of commercial judgement. However, consumer durables and miscellaneous engineering goods (Part B of List) should ordinarily be exported on cash terms. Four major factors viz. anticipated life of the goods to be exported, extent of foreign competition, nature of the foreign market and the contract value constitute the criteria for determining the overall terms of credit.<\/p>\n Cond<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ill be completed) or the date of respective shipment. In case of turnkey projects, instalments should be related to either date of contract or the mean date of shipment or commissioning as agreed upon between the parties.<\/p>\n (c) The rate of interest on deferred receivables should be such that taking into account the cost of deferred credit in India the overall profitability is ensured.<\/p>\n (d) Ordinarily, down payment together with advance payment or mobilisation advance should not be less than 15 per cent of the contract value. In exceptional cases, this may be reduced to 5 per cent of the contract value. In the case of civil construction contracts, it should not ordinarily be less than 5 per cent.<\/p>\n 9<\/p>\n (e) Down payments and deferred instalments receivable should be secured by a letter of credit\/acceptable bank guarantee. In case the overseas importer\/project authority is a Government department or a public sector undertaking, a guarantee from the foreign Government and \/or a promis<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n above, if necessary, based on their commercial judgement.<\/p>\n B.6 Cases where exporters desire to offer, due to local conditions, commercial credit not exceeding one year in respect of goods specified in Annexure I may be considered by the authorised dealers \/ Exim Bank as per powers delegated to them.<\/p>\n Post-award Clearance of Proposals<\/p>\n B.7 (i) After entering into contract, the exporter should submit to his bankers an application in form DPX-1 (in respect of turnkey and deferred payment supply contracts) or in form PEX-1 (in respect of civil construction contracts), as the case may be, in six copies along with six copies of the contract. Authorised Dealers should deal expeditiously with all applications made by exporters in connection with project exports. In cases where the proposal is within the powers delegated to him, authorised dealer may grant post-award approval for the terms and conditions of the contract, provided the contract basically satisfies the conditions laid down <\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n . Exim Bank may also receive directly applications for project export proposals of the value without any limit , without being routed through an authorised dealer provided (a) all facilities required for execution of the project are being extended by Exim Bank, (b) Exim Bank makes necessary arrangement with an authorised dealer to handle exchange control matters like GR formality, etc. in connection with execution of the project and ( c) Exim Bank monitors such projects cleared by them till their completion and ensures compliance with the requirements of completed projects as per paragraph B.10 of Memorandum PEM.<\/p>\n (iii) In all cases mentioned at (ii) above, authorised dealers\/ Exim Bank have to consult ECGC in advance if counter-guarantees of the Corporation are required and\/or insurance cover is desired to be obtained from it. In cases where ECGC agrees to extend counter-guarantees \/insurance cover, the authorised dealer \/ Exim Bank should, while granting clearance, advise the expor<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n he application of the prime contractor at the post-award stage will also clear applications of all the sub-contractors.<\/p>\n 11<\/p>\n (vi) Export of Goods (Pure Supply Contracts)<\/p>\n The procedure outlined in the preceding sub-paragraphs for post-award clearance will not apply to exports of goods (pure supply contracts) where at least 90% of the export value will be realised within the prescribed period i.e. six months from the date of export and the balance amount within a maximum period of two years from the date of export, provided the exporter does not require\/ avail of any funded or non-funded facility for such exports, from authorised dealers.<\/p>\n Appointment of Sub-contractors<\/p>\n B.8 In the case of large value contracts, applicant firms\/companies normally take the assistance of other contractors. In such cases the applicant firm\/company will be treated as the prime contractor while other contractors will be treated as sub- contractors. The prime contractor will be accountable to the va<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n g turnkey contracts or civil construction contracts abroad should furnish progress reports in form DPX 2 on a half-yearly basis (June and December) to concerned approving authority viz. authorised dealer \/ Exim Bank, and to ECGC \/ Exim Bank in all cases where their risk \/ guarantee cover participation in the funded \/ non-funded facilities has been obtained. The final Report in Form DPX 2 should clearly indicate the fact of completion of the project and full compliance with the requirements relating to completed projects as laid down in paragraph B.10.<\/p>\n 12<\/p>\n Requirements relating to Completed Projects<\/p>\n B.10 (i) Exporters executing turnkey\/construction contracts abroad should take the following steps after completion of the contracts:<\/p>\n (a) close the foreign currency accounts and transfer the balances to India;<\/p>\n (b) wind up site and liaison offices opened abroad;<\/p>\n (c) ensure that the guarantees for performance of the contract and other guarantees issued are cancelled and return<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n rt should also invariably be sent to Exim Bank \/ ECGC where their participation in funded \/ non-funded facilities, risk sharing is involved. The following documents should also be forwarded alongwith such report:<\/p>\n (a) A completion or final handing over certificate<\/p>\n (b) A certificate from the overseas bank regarding closure of the account held with it.<\/p>\n (c) A statement of remittances made to India. Bank certificates about repatriation of funds to India should be enclosed.<\/p>\n (d) Tax clearance certificate\/No tax liability certificate about the overseas project.<\/p>\n (e) Bills of Entry for re-import of machinery, etc.<\/p>\n (f) Statements of income and expenditure and profit and loss account of the project duly certified by a Chartered Accountant\/Project Manager.<\/p>\n 13<\/p>\n Buyer's Credit Scheme of Exim Bank<\/p>\n B.11 (i) Buyer's credit is extended under a scheme by Exim Bank known as 'Buyer's Credit Scheme' which envisages grant of credit by Exim Bank in participation with commercial banks <\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n to provide the credit. The following principal factors will weigh with Exim Bank while considering proposals under the Buyer's Credit Scheme:<\/p>\n a) Competence and capability of the exporter in executing the proposed contract.<\/p>\n b) Commercial justification for the contract<\/p>\n c) Economic viability of the overseas project for which the credit is required to be offered.<\/p>\n d) Creditworthiness, standing and financial position of foreign borrower and general economic conditions of buyer's country.<\/p>\n (ii) Since payments to exporters in India in respect of exports financed under buyer's credit will be made on behalf of non-resident buyers, permission of Reserve Bank under Regulation 3 of Notification No. FEMA 3\/2000-RB dated 3rd 15 May 2000 [Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000] should be obtained by banks in India before agreeing to extend buyer's credit to importers abroad. The necessary applications for the purpose should be made by au<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n t thereon from the overseas buyer. The lending institution (Process Agent in the case of consortium credits) should, therefore, take necessary steps to realise the instalments on due dates. If for any reason, instalments are not received on due dates, the institution concerned should promptly bring the matter to the notice of Reserve Bank and Exim Bank indicating steps, if any, taken or proposed to be taken to recover the instalments.<\/p>\n 15<\/p>\n PART C – EXPORT OF SERVICES<\/p>\n General<\/p>\n C.1 (i) Contracts for export of consultancy, technical and other services by Indian companies\/firms generally fall in the following categories:<\/p>\n (a) Preparation of project\/feasibility reports, drawings, designs, etc.<\/p>\n (b) Supply of technical know-how\/engineering services in different fields.<\/p>\n (c) Operation, maintenance and supervision of manufacturing plants, buildings and structures, etc.<\/p>\n (d) Management contracts for commercial concerns.<\/p>\n Export of services may also involve supply of some asso<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n however, repatriate the profits to India. Indian companies\/firms executing service contracts abroad, requiring facilities like opening of foreign currency bank accounts and site offices abroad, etc. will need approval from Authorised Dealer\/Exim Bank. In the case of exporters executing software service contracts abroad, authorised dealers may permit remittances towards maintenance expenses of the persons deputed abroad to execute such contracts, out of receipts of advance\/down payments in respect of the contract from the overseas client and on submission of a declaration by the exporter that the aggregate exchange facilities already availed of \/ to be availed of for execution of the contract would be within the overall ceiling of project related expenses viz. 70% of the contract value.<\/p>\n 16<\/p>\n Service Contracts Requiring Authorised Dealers'\/ Exim Bank's Approval<\/p>\n C.2 In some cases service contractors may be required to furnish a performance guarantee to the overseas employer in res<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ed dealers\/Exim Bank. All Service contracts involving deferred payment (DP) terms also require post-award clearance of authorised dealers\/Exim Bank.<\/p>\n Pre-requisites for Consideration of Proposals of Service Contracts Involving Cash Payment Terms<\/p>\n C.3 Before granting clearance to the exporters who have secured Service Contracts abroad, authorised dealers\/Exim Bank should ensure that the proposals satisfy, inter alia, the following broad guidelines\/conditions:<\/p>\n (a) Contract should be technically feasible and economically viable.<\/p>\n (b) Ordinarily, exporters should secure mobilisation advance to the extent of 15 per cent of the contract value. Exporters should not undertake any responsibility for organising supplies of machinery\/equipment and\/or materials going into the project. In case, contracts involve purchase of materials\/machinery\/equipments from third countries, such purchases should be financed directly by employers.<\/p>\n (c) ECGC may be consulted in advance for its commercial<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ter alia, to the fulfillment of the following conditions in addition to those at paragraph C.3(a), (c) & (d).<\/p>\n a) The rate of interest on deferred receivables should cover fully the cost to the exporter of export credit to be availed of from the Indian banking system. Periodicity of repayment of principal and payment of interest should not exceed half-yearly intervals.<\/p>\n b) Ordinarily, payment terms should provide for advance payment upto 25 per cent of the contract value. In exceptional cases, the advance payment may be reduced to 5 per cent of the contract value. In any case advance\/progress payment should cover fully the foreign exchange outgo as well as wages and salaries of personnel employed on the project.<\/p>\n c) Payment of instalments should be secured by letters of credit and\/or acceptable bank guarantees. In case the overseas employer is a Government department or a public sector undertaking, a guarantee from the Government and\/or promissory notes from the Government or pub<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \/ Exim Bank should examine the proposals in the light of nature and scope<\/p>\n 18<\/p>\n of the services to be rendered, terms of payment, period available for completion of the project\/assignment, penalty provisions, etc. and grant clearance provided the proposal satisfies the conditions listed in paragraphs C.3 \/ C.4.<\/p>\n (ii) AD bank \/ Exim Bank may receive such applications provided (a) all facilities required for execution of the contract are being extended by Exim Bank, (b) Exim Bank makes necessary arrangement with an authorised dealer to handle exchange control matters like export declaration formality, etc. in connection with execution of the contract and ( c) Exim Bank monitors such contracts cleared by them till their completion and ensures compliance with the requirements of completed contracts as per paragraph B.10 of Memorandum PEM.<\/p>\n (iii) The procedure outlined in paragraph B.7 in respect of project export proposals should be followed, mutatis mutandis, by authorised dealer\/<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n Exim Bank\/authorised dealer. The project exporters may also be permitted to open temporary liaison offices overseas in connection with the execution of the contract abroad by the authority approving the relative project export proposal subject to the conditions as may be specified by the said authority. Exim Bank\/authorised dealers may convey to the exporters, at the post-award stage, the detailed conditions subject to which the various facilities have been granted by the authority which grants the post award approval. A set of standard conditions are given in Annexure II. In the case of pure supply contracts on deferred payment terms where the exporter does not maintain any foreign currency account abroad, authorised dealers may remit commission in accordance with the terms and conditions set out in the letter of approval issued by them\/Exim Bank at the post award stage subject to the conditions stipulated in Annexure III. The exporter, if he so desires, may maintain a single foreign<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n in India subject to terms and conditions indicated at A(ii) in the Annexure II. The following will however need to be noted in this regard by the concerned Authorised dealer:<\/p>\n 20<\/p>\n a) Exporter will have to open, hold and maintain separate foreign currency account for each project under execution abroad.<\/p>\n b) Authorised dealers shall not avail of rupee loan against the security of balances held in such account and no overdraft in the account shall be permitted.<\/p>\n c) The balance in the account will be subject to SLR \/ CRR requirement as prescribed by Reserve Bank (DBOD) from time to time.<\/p>\n Approving authority may on request allow such of the project \/ service exporters, as have been permitted to open foreign currency account in India, to pay their Indian suppliers \/ service providers in foreign currency from foreign currency account subject to the following conditions :<\/p>\n a) Project \/ service exporter should not claim export benefit on the payment made to Indian supplier \/ servic<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n e project.<\/p>\n It will be in order for authorised dealer \/ Exim Bank while considering proposals at post award stage, against an undertaking to repatriate the amount of remittance, to approve initial remittance upto a limit deemed necessary on the basis of inflow \/ outflow of payments concerning the project, where adequate advance payment or an overdraft \/ loan abroad can not be arranged by the exporter. The period of repatriation of the amount sought to be remitted may also be determined by the authorised dealer \/ Exim Bank as the case may be.<\/p>\n 21<\/p>\n Third Country Purchases<\/p>\n D.2 (i) While granting package approval for turnkey\/civil construction contracts involving purchase of machinery\/equipment\/materials from third country sources, the authorised dealer or Exim Bank will indicate the extent upto which such purchases may be made. Ordinarily, the third country purchases should be paid for separately by the overseas project authority or by the Indian exporter out of advance\/down paym<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n third country imports approved by the approving authority while according post-award clearance to the project export proposal and payments under such letters of credits are made out of project receipts.<\/p>\n (ii) In respect of third country purchases by the exporter for execution of the project \/ service contract abroad, which are directly transported by the overseas supplier to the project site and for which payment is proposed to be made under letter of credit opened with banks in India, authorised dealer on an application made by the exporter, may grant waiver for submission of the exchange control copy of the bill of entry subject to the conditions that (a) the third country purchases have been approved by the concerned approving authority while according post-award approval to the project \/ service export proposal and (b) the exporter submits the invoice raised on him by the overseas supplier in respect of the goods supplied by him direct to the project site as also documentary evi<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n s not permitted since such surplus becomes repatriable to India as soon as the project is completed and provisional completion certificate is issued.<\/p>\n Copies of such applications, together with the approval accorded by the authorised dealer, should be forwarded to the approving authority which had cleared the project export contract and the banker of the lending project. Copies may also be forwarded to Exim Bank \/ ECGC in all cases where their participation in funded \/ non-funded facilities, risk sharing is involved in the concerned project export contracts.<\/p>\n Construction etc. Equipment<\/p>\n D.4 (I) Exporters executing turnkey\/ construction\/ service contracts abroad should normally take from India construction and other equipment required for performance of the contracts. Authorised dealer may permit, on application, export of equipment from India on the condition that it will be re-imported into India on completion of the contract and if let out \/sold, the full hire charges\/sale pro<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n hase abroad motor vehicles necessary for execution of their contract. Requests for permission to purchase vehicles abroad will be considered by the approving authority on merits of each case.<\/p>\n (iii) Exporters may also obtain construction etc. equipment abroad on hire against payment of hire charges out of foreign currency receipts in respect of service segments of their contracts.<\/p>\n (iv) Exporters may freely use the equipment for performing any other contract secured by them in the same or any nearby country. They may, if they so wish, also sell the equipment or give it on hire to other contractors abroad, provided the full amount of sale proceeds or hire charges, as the case may be, is repatriated to India promptly through normal banking channels. Documentary evidence showing repatriation of full amount realised should be produced to the authorised dealer monitoring the project.<\/p>\n Import of Equipment\/Machinery\/Motor Vehicles Purchased Abroad<\/p>\n D.5 Exporters may sometimes desire t<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n in rupees, an equivalent amount in foreign exchange should be repatriated to India promptly.<\/p>\n 24<\/p>\n Bid Bonds and Guarantees against Project Exports<\/p>\n D.7 (i) Authorised dealers may consider and furnish, without prior permission of Reserve Bank, all types of guarantees required to be furnished in connection with execution of project\/contract abroad, in cases where they have been authorised to approve proposals of exporters to undertake contracts abroad. Authorised dealer may also consider\/furnish bid bonds\/tender guarantees in connection with bids\/offers being submitted by exporters for execution of contracts abroad. Authorised dealers should satisfy themselves before furnishing the bond\/ guarantee that the exporter is in a position to fulfil his contractual obligations and the bid\/ contract satisfies the conditions stipulated in paragraph B.5\/C.3\/C.4. In other cases, authorised dealers should issue the guarantees after package approval has been secured from Exim Bank either under p<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n should be reported by the project\/ service exporters to the concerned Regional Office of Reserve Bank (FED) as also to the concerned authorised dealer\/Exim Bank who had cleared the proposal, within 15 days from the issue of such guarantee\/s.<\/p>\n Guarantees for Borrowings Abroad<\/p>\n D.8 In all cases where exporters executing turnkey\/civil construction\/service contracts abroad are granted an approval by the approving authority to raise foreign currency loans\/overdrafts abroad against counter guarantees of their bankers in India, for bridging temporary short-falls in the cash-flows, the authorised dealer<\/p>\n 25<\/p>\n concerned may issue the requisite guarantee in favour of the overseas bank from which the loan\/overdraft is to be raised.<\/p>\n Project Exports to Nepal\/Bhutan<\/p>\n D.9 All project export proposals to Nepal and Bhutan require the clearance of the concerned authorities like the authorised dealer \/Exim bank on terms and conditions of the contract at post-award stage. Provisions of para. <\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n and Process Instruments including X-Ray equipment for Industrial Applications.<\/p>\n 14. Copper Ore concentration machinery<\/p>\n 15. Dairy equipment and animal feed plant<\/p>\n 16. Earth moving equipment like crawler tractors, shovels, excavators, loaders, dumpers etc.<\/p>\n 17. Edible Oil Mill machinery and oil expellers.<\/p>\n 18. Electric motors and pumps<\/p>\n 19. Electronic Data Processing equipment<\/p>\n 20. Fertilizer plant and equipment<\/p>\n 21. Flour, rice and dal mill machinery<\/p>\n 22. Food processing plant<\/p>\n 23. Foundry equipment including mould making machinery, Sand and Shot blasting equipment<\/p>\n 24 Freight containers<\/p>\n 25. Garage equipment<\/p>\n 26. Gas and air separation plants<\/p>\n 27<\/p>\n 27. Glass and Ceramic machinery<\/p>\n 28. Heat Exchangers<\/p>\n 29. Integrated Steel Plants (complete or in parts), mini steel plants (electric arc and reduction furnaces). Re-heating and heat treatment furnaces, Rolling Mills and other finishing lines for ferrous and non-ferrous metals.<\/p>\n 30. Ice-making machinery\n<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ission and distribution equipment including boilers, generators, transformers, switchgears, transmission line towers, conductors, cables, sub-station equipment and protective equipment.<\/p>\n 49. Power line carrier communication equipment<\/p>\n 50. Power station structures, hydraulic structures like penstocks, gates and gearings, sub-station structures.<\/p>\n 51. Pressure vessels.<\/p>\n 52. Printing and book-binding machinery<\/p>\n 53. Pulp and Paper Mill machinery<\/p>\n 28<\/p>\n 54. Railway electrification equipment and structures and railway signalling equipment.<\/p>\n 55. Railway rolling stock including locomotives, wagons, coaches and trolleys.<\/p>\n 56. Rubber machinery<\/p>\n 57. Refractories for use in hot blast stoves, hot blast main bustle pipes and blast furnace proper.<\/p>\n 58. Road and construction equipment including road rollers, tar boilers, continuous batch plants, stone crushers, asphalt mixers, concrete mixers and vibrators.<\/p>\n 59. Ships, boats, trawlers, steamers, launches, barges.<\/p>\n 60. Solvent ex<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n , pipes, decorative laminates, fittings, electricals and steel\/aluminium doors and windows, provided they are exported as separate items and not as items forming part of civil construction\/turnkey projects.<\/p>\n 29<\/p>\n 80. Agricultural chemicals and industrial chemicals.<\/p>\n 81. Pressure cookers, watches and clocks, knitting\/sewing machines, vacuum flasks, cutlery, plastic moulded luggage.<\/p>\n 82 Domestic electric appliances<\/p>\n 83. Drugs and pharmaceuticals<\/p>\n 84. Electrical equipment including low tension insulators, batteries and accumulators, parts of electrical machinery and lamps fuses and electrodes for industrial application.<\/p>\n 85. Electronic components.<\/p>\n 86. Electronic goods including radios, TV, public address systems, record players, tape recorders.<\/p>\n 87. Fibreglass, PVC and plastics based products including pipes and tubes, tyre cord.<\/p>\n 88. Ferrous\/non-ferrous castings, forgings, stampings, extrusions and rolled products.<\/p>\n 89. Ferrous\/non-ferrous pipes, tubes, sheets, stri<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n eign currency bank accounts abroad<\/p>\n a) The exporter is permitted to open<\/p>\n The exporter is permitted to open in for the purpose of execution of<\/p>\n contract.<\/p>\n (Places where accounts are to be opened).<\/p>\n to open<\/p>\n (no. of accounts)<\/p>\n b) The exporter shall within 15 days from the date of opening of such accounts furnish the details thereof viz. account number, name of the bank, place and country where such account is opened, to the Authorised Dealer concerned.<\/p>\n c) Credits representing payments by the project authorities to the Indian contractor under the contract may be made freely. In case payments made in respect of supplies of materials\/equipment made from India have to be temporarily credited to the account, the amount representing value of such supplies should be repatriated to India soon thereafter.<\/p>\n d) Debits representing disbursements to be made in country of execution of contract and for purchase of materials\/equipments <\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n er:<\/p>\n 2. Name & address of the buyer :<\/p>\n 3. Name of the project<\/p>\n Particulars<\/p>\n As per last<\/p>\n during the<\/p>\n Total<\/p>\n quarter<\/p>\n Report<\/p>\n A. Receipts<\/p>\n 1. Opening balance<\/p>\n 2. Receipts from buyer towards (advance\/down\/progress payments)<\/p>\n (a) supplies from India<\/p>\n (b) Third country local supplies<\/p>\n (c) Services<\/p>\n (d) Reimbursable expenses<\/p>\n (e) Extra claims<\/p>\n (f) Others (if any)<\/p>\n 3. Remittances from India<\/p>\n 4. Inter project transfers<\/p>\n 5. Transfers from other accounts (short-term deposits\/other foreign currency accounts)<\/p>\n 6. Others<\/p>\n 7. Total of (A):<\/p>\n B. Expenditure<\/p>\n 1. Third country\/local supplies \/ Indian supplies<\/p>\n 2. Site office expenses<\/p>\n 3. Taxes\/duties<\/p>\n 4. Freight\/insurance<\/p>\n 5. Purchase of construction equipment\/<\/p>\n Machinery \/tools\/ tackles etc.<\/p>\n 6. Agency commission<\/p>\n 7. Short term deposits<\/p>\n 8. Inter project transfer<\/p>\n 9. Repatriation to India<\/p>\n 10. Others<\/p>\n 11. Total of (B)<\/p>\n 12. Closing balance (A-B)<\/p>\n (Note : Separate statement should<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n value of Indian supplies which is required to be repatriated to India) within the validity of the bank guarantee issued by bank(s) in India.<\/p>\n k) Project funds in the foreign currency account temporarily rendered surplus may be invested in short term deposits, not exceeding one year, and on maturity they should be transferred to the foreign currency account opened in connection with the project in question. However, such investments are not permitted when the foreign currency borrowings\/overdrafts raised by the project exporter are outstanding. The maturity period of the fixed deposit should not in any case, go beyond the date of completion of the project in question.<\/p>\n l) The Reserve Bank reserves the right to go into details of any specific transaction and call for such documentary evidence like Chartered accountant's Certificate, bills\/vouchers, etc. as it may consider necessary.<\/p>\n A(ii) – Opening of Foreign Currency bank account in India.<\/p>\n The exporter is permitted to open for<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n nt from India has to be temporarily credited to the account and for conversion of balance in the account into Indian rupees at the end of the contract may be made freely.<\/p>\n g) All other credits \/ debits will require prior approval of approving authority \/ Reserve Bank of India.<\/p>\n h) The account shall be closed immediately after completion of the project and the entire balance should be transferred to rupee account and \/ or EEFC account as the case may be as per prevailing guidelines.<\/p>\n i) Project funds temporarily rendered surplus may be invested in short term deposits, not exceeding one year and on maturity, they should be transferred to the project foreign currency account. However, maturity period of the fixed deposit should not, in any case, go beyond the date of completion of the project in question.<\/p>\n j) No forward cover facility would be available on the balances held in the account.<\/p>\n B. Establishment of temporary site \/ liaison offices<\/p>\n (a)The project exporter is permit<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n liaison office by the Indian associates and sub-contractors of prime contractors with foreign exchange made available to them by the prime contractors subject to the above terms and conditions, provided opening of such site office\/s \/liaison office has been approved while granting post-award clearances.<\/p>\n 34<\/p>\n C. Payment of agency commission to overseas agents<\/p>\n a) It will be in order for the project exporter to pay agency commission not exceeding of the contract value to the<\/p>\n (to be specified) * (Name and address of the agent) *as indicated in the payment terms conveyed in the letter of approval.<\/p>\n b) The agency commission shall be paid at the approved rate by debits to the foreign currency bank account\/s opened in connection with execution of the contract.<\/p>\n c) Payment of agency commission shall not be made by credit to a numbered account where the identity of the recipient is not known or to a third person\/party.<\/p>\n d) The commission payments shall be reflected in the half-ye<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n -bid clearance.<\/p>\n c) The entire amount of overdraft\/loan together with interest will have to be liquidated out of payments to be received from the overseas employer on account of the services segment of the contract and no remittance from India will normally be allowed either for repayment of the overdraft\/loan or for payment of interest.<\/p>\n d) The export value of goods supplied from India and declared on EDF\/SDF in the usual manner shall be repatriated to India in the normal course and shall not be utilised for repayment of the overdraft\/loan.<\/p>\n e) A certified half-yearly statement of the operations in the overdraft\/loan account duly supported by transcripts of the account and a brief note explaining each debit and credit exceeding the equivalent of US$ 10,000 shall be submitted to the authorised dealer, within one month from the close of relevant half-year.<\/p>\n f) Liquidation of overseas borrowings (including interest) shall be given preference over liquidation of rupee overdrafts a<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n he authorities in country where contract is being executed will be prepared to allow remittances out of local currency payments made to the exporter on service segment of the contract.<\/p>\n (ii) The permission for raising loans\/overdrafts should not be granted to sub-contractors of Indian prime contractors and that they should be advised to approach the Indian prime-contractors for necessary financial requirements in foreign exchange.<\/p>\n E. Conditions relating to Payment Terms approval<\/p>\n Exporter will not be required to approach Reserve Bank for obtaining Payment Terms approval. He should however note the following:<\/p>\n 1. Any matter for which specific foreign exchange approval is required, a specific application will have to be made to RBI at the appropriate time. The approval accorded by the Approving Authority does not bind the Exim Bank\/ ECGC\/Import Trade Control authorities regarding grant of Exim Bank financial assistance \/ ECGC cover\/ import replenishment \/ third country imports a<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \n37<\/p>\n Annexure 'AB'<\/p>\n Quarterly statement showing value of shipments effected and advance\/ deferred instalments received in respect of exports under Deferred Payment Arrangements<\/p>\n (To be completed by the Exporter and submitted to the concerned Regional Office of Reserve Bank and Approving authority every calendar quarter)<\/p>\n For the quarter ended <\/p>\n 1. No. & date of approval of the Approving Authority for the deferred payments :<\/p>\n 2. Country<\/p>\n :<\/p>\n AMOUNT<\/p>\n Foreign Currency Rs.<\/p>\n I. (a) Value of shipments effected during the: Quarter<\/p>\n (b) Of which deferred payment portion . .<\/p>\n II. Advance payment, if any received during .. the quarter<\/p>\n III. Deferred Credit instalments realised Principal Interest<\/p>\n During the quarter Foreign Currency Rs. Foreign currency<\/p>\n III. Details of amounts fallen due<\/p>\n (a) Total amount due but not received<\/p>\n (b) Amount pending beyond six months<\/p>\n (c) Reasons for non-payment of instalments\/ interest which have fallen due and efforts made to <\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ct receivables are received in non-convertible Indian Rupees and the agency commission is desired to be made in freely convertible currency, such applications should be referred to the concerned Regional Office of Reserve Bank for approval.<\/p>\n NOTE: This facility is not available to the sub-contractors of Indian prime contractors.<\/p>\n 39<\/p>\n DPX 1 { Paragraph B.7(i) of PEM }<\/p>\n Application to be submitted by exporters after award of contract for export on deferred payment\/turnkey basis<\/p>\n A. Instructions :<\/p>\n The application should be completed in six copies and submitted to an authorised dealer along with six copies of the contract, within fifteen days of entering into contract with the overseas buyer.<\/p>\n B. Documentation:<\/p>\n Certified copies of the documents, listed in item XII of the application form.<\/p>\n I. Exporter<\/p>\n Name & Address (other details as per Annexure I).<\/p>\n II. Overseas Buyer a)<\/p>\n a) Name and Address<\/p>\n b) Constitution (Indicating whether a private or Government underta<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n is F.O.B., C&F or C.I.F. or on other terms giving the actual or estimated F.O.B value where the price is on non-F.O.B. terms. If the price is fixed in a foreign currency, state the price in terms of foreign currency, and its rupee equivalent.)<\/p>\n (iii) Payment terms (iii) % Amount<\/p>\n (1) Advance payment (2) Down payment (3) Deferred payment (4) Retention money (4)<\/p>\n (iv) When is advance payment receivable? (v) Down payments – how and when receivable? (1) Advance payment<\/p>\n (2) Down payment<\/p>\n (3) Deferred payment<\/p>\n (iv) When is advance payment receivable?<\/p>\n (v) Down payments – how and when receivable?<\/p>\n 41<\/p>\n (vi) Deferred receivables (vi)<\/p>\n (1) Moratorium\/grace period, if any, on principal amount (please also indicate the date from which the period will start). (1)<\/p>\n (2) Period of deferred payments inclusive of moratorium (2)<\/p>\n (3) Number and amount of instalments (principal and interest separately) (3)<\/p>\n (4) Whether the instalment<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n iption (Nature of services (g)<\/p>\n being rendered, whether turnkey or supervision of erection\/ commissioning ) 1.<\/p>\n 2. Value 2.<\/p>\n (ix) Time schedule for shipments<\/p>\n 42<\/p>\n 3. Payment terms 3 % Amount<\/p>\n a) Advance Payment a)<\/p>\n b) Progress Payments c) Deferred Payments\/ Retention Money b) c)<\/p>\n 4. Number and amount of instalments relating to deferred receivables 4.<\/p>\n 5. Security 5.<\/p>\n 6. (a) Currency\/ies of payment (a)<\/p>\n (b) Is there an exchange variation (b)<\/p>\n clause? If not, will the exchange risk be covered under ECGC Scheme in respect of deferred receivables, where allowed?<\/p>\n (Cost of forward cover, if any, should be built into the tender\/offer)<\/p>\n 7. Rate of interest on deferred receivables 7.<\/p>\n (h) Third country imports (h)<\/p>\n (a) Reasons for third country imports (a)<\/p>\n (b) Nature of imports, estimated cost, names of suppliers and country of supply (b)<\/p>\n (c) Have firm quotations been obtained? If so, how long are they valid? (c)<\/p>\n (d) Terms of payment, Are L\/Cs requi<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n Details of banking arrangements made by sub-suppliers for the offer (4) (5)<\/p>\n (Note: If prime exporter is a sub-supplier to<\/p>\n a foreign principal other than the overseas<\/p>\n buyer, Annexure II may be completed). (b)<\/p>\n (b) If a member of a consortium\/joint bid<\/p>\n (1) Name\/s & Address\/es of the<\/p>\n Leader\/ Other members (1)<\/p>\n (2) Nature of goods\/services relating<\/p>\n to leader\/each consortium (2)<\/p>\n member, and value thereof<\/p>\n (3) Payment and other back-to-back arrangements with leader\/other consortium members (3)<\/p>\n (4) Past experience of<\/p>\n leader\/consortium members (4)<\/p>\n (5) Details of banking arrangements<\/p>\n made by leader\/consortium (5)<\/p>\n members for the offer<\/p>\n (Note: If the offer is jointly with a foreign<\/p>\n party, information as in Annexure II may be given).<\/p>\n 44<\/p>\n VI. Foreign Exchange outgo<\/p>\n (a) (i) CIF cost of raw materials and components proposed to be imported into India for the execution of the order or value of import replenishment entitlements whichever is higher<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n he ECGC insurance proposed to be obtained. (State whether ECGC quotations have been obtained. If so, furnish rates quoted and certified copies of the relevant correspondence with the Corporation).<\/p>\n X. Arrangement for Bank Finance<\/p>\n a) Name\/s of the exporter\/s banker\/s a)<\/p>\n b) Arrangements made or proposed to be made for obtaining finance during the pre and post shipment stages and guarantee facilities for executing the export order. b)<\/p>\n Credit and other facilities (a) Guarantees and letters of credit (a) Amount (Foreign Currency and Rupees equivalent) Period for which required<\/p>\n I. Advance Payment Guarantee I.<\/p>\n II. Performance Guarantee II.<\/p>\n III. Retention Money Guarantee III.<\/p>\n IV. Guarantee for borrowings abroad\/or IV.<\/p>\n V. remittances on repatriation basis V.<\/p>\n VI. Any other guarantee VI.<\/p>\n VII.Letters of Credit to be opened VII.<\/p>\n A. From India A.<\/p>\n B. Outside India B.<\/p>\n (b) Credit facilities I. Pre-shipment credit (b) I.<\/p>\n II. Credit against deferred receivables<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ion<\/p>\n (vi) Law governing the contract<\/p>\n XI. Provisions in respect of the following:<\/p>\n (i) Penalty \/ Liquidated damages<\/p>\n (ii) Price escalation<\/p>\n (iii) Pre-shipment inspection<\/p>\n (iv) Force majeure<\/p>\n (v) Arbitration<\/p>\n (vi) Law governing the contract<\/p>\n 47<\/p>\n XII. Documents to be attached with the Application(Attach certified true copies)<\/p>\n a) Balance sheets and profit and loss accounts of the exporter for the last 3 years a)<\/p>\n b) Export contract with amendments, if any ( 6 copies) b)<\/p>\n c) Letter of credit or Letter of guarantee received by the exporter c)<\/p>\n d) Agreements with sub-suppliers\/other members of consortium d)<\/p>\n Note : If the exporter is a sub-supplier or a member of a consortium\/joint bidder copies of recent Annual Reports and write up on activities of the leader and other members of the consortium\/joint bidders and information as per Annexure II should also be furnished.<\/p>\n e) Letter, if any, from the exporter's banker communicating the terms of sanction, of guar<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n lf year Half year Half year Total<\/p>\n 1 2 3 4 5 6 7<\/p>\n 1. Outstanding at the beginning<\/p>\n 2. Advances availed of during the period<\/p>\n 1. Total of 1 & 2<\/p>\n 2. Less instalments, if any, received from the importer<\/p>\n 3. Outstandings at the end of the period<\/p>\n N.B. Quarterly figures to be given till the limit is expected to be fully drawn, thereafter, figures may be furnished quarterly\/half-yearly\/yearly depending upon the receipt of the deferred instalments.<\/p>\n 49<\/p>\n Annexure I to Form DPX 1 (Item 1 of Form DPX 1)<\/p>\n INFORMATION ON THE EXPORTER<\/p>\n (a) Name (a)<\/p>\n (b) Registered\/head Office (b)<\/p>\n (c) Code No. (c)<\/p>\n (d) Location of factory\/ies, if any (d)<\/p>\n (e) Year of establishment and commencement of operations (e)<\/p>\n (f) Name\/s of the proprietor\/partners\/Directors (f)<\/p>\n (g) Main lines of activity (indicate whether manufacturing and\/or trading) (g)<\/p>\n (h) (i) Installed capacity (h) (i)<\/p>\n (ii) Value & quantity of production (ii)<\/p>\n (iii) Sales of main products (iii)<\/p>\n (iv) Value o<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n a)<\/p>\n (b) Payment terms (c) Security (a) Name and address<\/p>\n (b) Standing and reputation<\/p>\n (c) Past dealings with the exporter, if any.<\/p>\n (a) Value<\/p>\n (b) Payment terms<\/p>\n (c) Security<\/p>\n 51<\/p>\n Annexure III to Form DPX 1 ( Items VIII & XII(f)(i) of Form DPX 1 )<\/p>\n ESTIMATES OF COST AND PROFITABILITY<\/p>\n (Amount in lakhs of Rupees )<\/p>\n Domestic 1. Raw materials & components (excluding duties) 1.<\/p>\n Indigenous<\/p>\n Imported (a) into India (a)<\/p>\n (b) direct into the importing country (b)<\/p>\n 2. Direct labour 2.<\/p>\n 3. Depreciation 3.<\/p>\n 4. Factory overheads 4.<\/p>\n 5. Packing Charges 5.<\/p>\n 6. Other administrative & selling expenses 6.<\/p>\n 7. Taxes and duties – 7.<\/p>\n (i) Excise duties (i)<\/p>\n (ii) Import duties (ii)<\/p>\n (iii) Taxes (to be specified) (iii)<\/p>\n 8. Royalty on the export sales 8.<\/p>\n 9. Overseas agent's commission\/fee 9.<\/p>\n 10. Other commission and service charges 10<\/p>\n 11. Interest at the pre-shipment sta<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n year)<\/p>\n I. Exporter Name and address I.<\/p>\n II. Export contract covered by the report II.<\/p>\n (a) Buyer's name and address (a)<\/p>\n (b) Value (b)<\/p>\n (c) Date of signing (d) Effective date (d)<\/p>\n (e) Date & Reference No. of the approval by the Approving Authority (e)<\/p>\n (f) Scope\/Nature of Project (f)<\/p>\n III. Advance payments, security, etc.<\/p>\n (a) Amount and date of receipt of advance payment (a) (b)<\/p>\n (b) Particulars of Letter of Credit and\/or Deferred Payment Guarantee received<\/p>\n IV. Sub-suppliers<\/p>\n Have all back-to-back contracts been signed with sub-suppliers? (Please furnish details of arrangements with sub-suppliers as per Annexure)<\/p>\n (c) Date of signing<\/p>\n 54<\/p>\n Supplies<\/p>\n V. Goods\/Supplies from India Rs. V.<\/p>\n (a) Last date of shipment as per contract (a)<\/p>\n (b) Anticipated\/actual date of commencement of shipment (b)<\/p>\n (c) What arrangements have been made\/proposed for procuring indigenous and imported raw materials\/components? (c)<\/p>\n (d) Have import licences, wherev<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n rk are available, copies thereof may be furnished (should be submitted along with the first report)<\/p>\n (f) Exporter's Schedule (f)<\/p>\n (i) Targetted\/actual date of commencement of services<\/p>\n (i)<\/p>\n (ii)<\/p>\n (ii) Targetted\/actual date of<\/p>\n completion of services<\/p>\n (iii) Work completed (% of total work)<\/p>\n (iii)<\/p>\n (iv) Reasons for delay, if any.<\/p>\n (iv)<\/p>\n (g) Progress payments<\/p>\n (g)<\/p>\n (i) Total amount of work bills submitted<\/p>\n (i)<\/p>\n so far<\/p>\n (ii)<\/p>\n (ii) Amount of work bills certified for<\/p>\n payment by the buyer<\/p>\n (iii)<\/p>\n (iii) Amount of work bills paid by the buyer<\/p>\n (iv)<\/p>\n (iv) Amount of work bills awaiting<\/p>\n payment<\/p>\n (v) Reasons for delayed\/with held<\/p>\n (v)<\/p>\n payment<\/p>\n (h)<\/p>\n (h) In case of deferred credit for services,<\/p>\n please indicate the progress of<\/p>\n payments<\/p>\n (i)<\/p>\n Amount receivables (showing the<\/p>\n (i)<\/p>\n due dates from the beginning of<\/p>\n the contract till the date of the<\/p>\n report)<\/p>\n (ii) Amounts paid by foreign buyers (ii<\/p>\n (iii)<\/p>\n (iii)<\/p>\n Amounts a<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n rted into India (ii) Sold abroad \/ scrapped (iii) Transferred to other projects (iii)<\/p>\n (iv) Amount of depreciation charged to v)<\/p>\n the project<\/p>\n (v) Amount repatriated<\/p>\n ( v )<\/p>\n Rs.<\/p>\n IX. Machinery \/ equipments etc. required for execution of the contract.<\/p>\n (c) Exported from India on reimport basis<\/p>\n (i) Reimported into India<\/p>\n (ii) Sold abroad \/ scrapped<\/p>\n (v) Amount repatriated<\/p>\n 57<\/p>\n X. Arrangements abroad<\/p>\n (a) Has any overdraft in foreign currency been raised abroad? If yes, please indicate (a)<\/p>\n (i) Name & address of the lending bank (ii) Amount of overdraft limit<\/p>\n ( i i) Security offered<\/p>\n (i 1) Number and date of Approving authority \/ RBI's approval (iv)<\/p>\n (v) Amount of overdraft availed so far<\/p>\n (vi) Amount repaid ( v<\/p>\n (vii) Amount outstanding (v<\/p>\n (b) Has any commission\/fee been paid to overseas agents? If so, please indicate (b)<\/p>\n (i) Name and address of the overseas agent (i)<\/p>\n (ii) Amount of commission paid so far (ii)<\/p>\n (ii<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n s for repatriation<\/p>\n (d) Amounts repatriated (d)<\/p>\n XIV. Particulars of repatriations<\/p>\n (Amount in Rs.)<\/p>\n Upto last half year<\/p>\n (a) Supply of goods<\/p>\n During the half year<\/p>\n Total<\/p>\n (b) Supply of services<\/p>\n (c) Reimbursement of rupees expenses (actuals)<\/p>\n (d) Reimbursement of non-cash expenses debited<\/p>\n (e) Against remittances from India<\/p>\n (f) Profit<\/p>\n (g) Others (specify)<\/p>\n XV. Any other information which exporter may like to furnish (such as Inter-Project transfer of funds, etc.)<\/p>\n We hereby certify that the particulars given above are true to the best of our knowledge and belief.<\/p>\n STAMP<\/p>\n (Signature of Authorised<\/p>\n Official) Date :<\/p>\n Name: Designation: Name & address : of firm\/company<\/p>\n CERTIFICATE OF AUTHORISED DEALER<\/p>\n It is certified that the particulars furnished above have been verified with reference to the records maintained by the bank and the same have been found to be correct<\/p>\n STAMP<\/p>\n (Signature of Authorised Official) Name:<\/p>\n Date :<\/p>\n Designation:<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n pprox. rupee equivalent<\/p>\n 5. Break-up of the amount of the contract<\/p>\n (a) India (a)<\/p>\n (i) Cost of materials to be exported from India. (i)<\/p>\n (ii) Other charges for services to be provided from India. (ii)<\/p>\n (b) Country in which the works are to be executed (b)<\/p>\n (i) Goods and materials purchased locally (i)<\/p>\n (ii) Other charges for services to be provided (ii)<\/p>\n from that country including finance charges, insurance and transport<\/p>\n (c) Third countries (c)<\/p>\n (i) Goods and materials (i)<\/p>\n (ii) Other charges for services including finance charges, insurance and transport (ii)<\/p>\n Total<\/p>\n 6. Whether the contract is taken up alone or jointly with any overseas party; if so, please give full details of the arrangement<\/p>\n 7. Estimated foreign exchange receipts of the contract<\/p>\n 61<\/p>\n 8. Full details of terms of payment:<\/p>\n (a) Exports from India<\/p>\n (a)<\/p>\n (i) Description<\/p>\n (ii) Quantity (i)<\/p>\n (iii) Value (ii)<\/p>\n (iv) Whether on CIF, C&F or FOB terms (iii)<\/p>\n (v) Anticipated d<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \n11. Whether the shipments to the overseas buyer will be effected in foreign vessels and if so, details of the freight payable (applicable in the case of C&F and CIF contracts)<\/p>\n 12. The amount of credit to be granted to the foreign buyer\/banker. Please furnish brief details of financing. (Ratio of participation by the financing institutions in the credit scheme)<\/p>\n 13. Details of repayment of the credit by the foreign buyer<\/p>\n (a) Schedule of repayment agreed upon (Schedule may be enclosed separately) (a)<\/p>\n (b) Rate of interest on credit (b)<\/p>\n (c) Currency of repayment (c)<\/p>\n (d) Exchange risk, if any (d)<\/p>\n 14. Is there any guarantee for repayment of the credit by the foreign buyer? If so, details thereof. If not, what is the security for the credit proposed to be granted?<\/p>\n 15. Has the ECGC cover been obtained?<\/p>\n 16. Whether any commission is payable to any foreign agent?<\/p>\n If so, what is the rate and whether Approving authority<\/p>\n has approved the commission payment?<\/p>\n (<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ragraph B 7 (i) of PEM)<\/p>\n Application to be submitted by contractors after award of overseas construction contracts<\/p>\n A. Instructions:<\/p>\n The application should be completed in six copies and submitted to an authorised dealer alongwith six copies of the contract, within fifteen days of entering into contract with the overseas buyer.<\/p>\n B. Documentation :<\/p>\n 1. Certified copies of the documents listed in item 23 of the application form<\/p>\n PART A – GENERAL<\/p>\n 1. Details of the applicant (contractor)<\/p>\n (a) Name and address of the firm\/company (a)<\/p>\n (b) Exporter's code No. (b)<\/p>\n (c) Name\/s of the proprietor\/partners\/directors (c)<\/p>\n (d) Foreign collaboration (including foreign capital), if any, and terms of collaboration (d)<\/p>\n (e) Main lines of activity (varieties of civil engineering works) (e)<\/p>\n (f) Annual turn-over (Mention main items of construction\/civil engineering works executed in India and their value) (f)<\/p>\n (g) Broad particulars of construction contracts executed abroad d<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n Member<\/p>\n (a) If a Prime Exporter – (a)<\/p>\n (i) Name\/s and address\/es of major sub- supplier\/s (i)<\/p>\n (ii) Nature of goods\/services relating to each sub- supplier\/s and value thereof (ii)<\/p>\n (iii) Payment and other back-to-back arrangements with sub-supplier\/s (iii)<\/p>\n (iv) Past experience of major sub-supplier\/s (v) Details of banking arrangements made by sub-suppliers for the contract (iv) (v)<\/p>\n NOTE: If prime exporter is a sub-supplier to a foreign principal other than the overseas buyer, Annexure I may be completed<\/p>\n (b) If a member of a consortium or joint bidder (b)<\/p>\n (i) Name and address\/es of the bidder (i)<\/p>\n (ii) Nature of goods\/services relating to leader\/each consortium member and value thereof (ii)<\/p>\n (iii) Payment and other back-to-back arrangements with leader\/other consortium members (iii)<\/p>\n (iv) Past experience of leader\/consortium member (iv)<\/p>\n ( v) NOTE: If the contract is j<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ch minimum penalty becomes applicable, may also be indicated<\/p>\n (ii) Price escalation<\/p>\n (iii) Force majeure<\/p>\n (iv) Arbitration<\/p>\n (v) Law governing the contract<\/p>\n 66<\/p>\n 5. Payment terms % Amount<\/p>\n (a) Advance Payment (state when receivable) (a)<\/p>\n (b) Down payment (b)<\/p>\n (c) Progress payment (c)<\/p>\n (d) Retention money (state when receivable) (d)<\/p>\n (e) Deferred payment (e)<\/p>\n (f) Terms of deferred payment (f)<\/p>\n (i) Period of credit (years)<\/p>\n (ii) Number of instalments for repayment of principal (ii)<\/p>\n (iii) Intervals at which instalments will be Receivable (iii)<\/p>\n (iv) Date with reference to which the due dates of instalments will be fixed (iv)<\/p>\n (v) Moratorium\/Grace period, if any (v)<\/p>\n (vi) Rate of interest on deferred credit (vi)<\/p>\n (vii) Period at which interest will be receivable (vii<\/p>\n 6. Currency of payment<\/p>\n (i) In respect of supply of goods (i)<\/p>\n (ii) In respect of services portion (ii)<\/p>\n (iii) If currency of payment is Indian Rupees, whether payments will be rec<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ntrol approval therefor (vii) Others (specify)<\/p>\n Total: (b) Nature of raw materials and components to be imported into India<\/p>\n 9. Third country imports : (i) Value of items to be procured from third country sources – (i) Amount (Rs.in lakhs) (a) Material (b) Machinery (c) Equipment Total ..<\/p>\n (ii) Terms of payment for third country imports (iii) Details of financing arrangements, if any, required abroad by the exporters (i (iii)<\/p>\n 68<\/p>\n 10. Construction equipment required for execution of the contract<\/p>\n (a) to be exported from India (a)<\/p>\n (i) List of equipment and values (i)<\/p>\n (ii) Name\/s of the supplier\/s (ii<\/p>\n (iii) terms of payment iii)<\/p>\n (b) to be imported from third country (b)<\/p>\n (i) List of equipment and values (i)<\/p>\n (ii) Name\/s of the supplier\/s (ii)<\/p>\n (iii) Terms of payment (iii)<\/p>\n (c) to be transferred from other projects (c )<\/p>\n (i) List of equipment & values (i)<\/p>\n (ii) Name of the project & country (ii)<\/p>\n (d) Total value of machinery and equipment [(a) + (b) +<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n rrency Rupees<\/p>\n Total …<\/p>\n (ii) How salaries and wages etc. will be paid in foreign currency in case of deferred payment contract? (ii)<\/p>\n (c ) Are there any minimum wages and other labour laws prevailing in the importing country ? If so, particulars thereof may be given (c)<\/p>\n (d) Are there any restrictions on the employment of outside labour in the importing country ? (d)<\/p>\n (e) What is the position of availability of required skilled and unskilled labour in the importing country ? (e)<\/p>\n (f) What are the general living conditions regarding accommodation, water and power in the area where the contract is to be executed? (f)<\/p>\n (g) Brief account on Taxation provisions affecting repatriation of salary and profits (g)<\/p>\n 70<\/p>\n 15. Overseas organization proposed to execute the contract<\/p>\n (a) Place\/s where site\/liaison office\/s will be required (a)<\/p>\n (b) Staff and organization at the site\/liaison office (b)<\/p>\n (c) Estimated expenditure on the site\/liaison offices (c)<\/p>\n (d) Who will <\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ii)<\/p>\n '(iv) By which period (state month and year) borrowings will be liquidated (iv)<\/p>\n 71<\/p>\n 19. Estimated foreign exchange repatriation to India (Rs.in Lakhs) Amount<\/p>\n (a)Supply from India (goods & services) (b)Overheads (c)Profits (d)Others<\/p>\n Total<\/p>\n 20. Profitability estimated (Amount and percentage) (Please furnish detailed cost and profitability as per Appendix II)<\/p>\n 21. Other details (a) Whether the project is being financed by World Bank\/ Asian Development Bank etc. and whether covered by budget allocation (b) If the contract forms part of a large project, brief details of the overall project (c) Details regarding project consultants (d) Procedure for certification of bills and time span at each stage for passing the bills and receiving payments<\/p>\n (e)(i) Procedure for provisional and final take over of the project (ii) Safeguards provided in the contract in case the employer does not take over the project within the reasonable time<\/p>\n 22. Any other relevant information <\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n leader And other members of the consortium\/joint bidders should also be furnished. (iii)<\/p>\n (iv) Details of sub-contractors in Annexure II to this form. Copies of recent Annual Reports and write- up on activities of sub-contractors should also be furnished (iv)<\/p>\n (v) Currency-wise cash flow and consolidated cash flow statements for the project. (v)<\/p>\n 73<\/p>\n PART B – FACILITIES REQUIRED BY EXPORTER<\/p>\n 1. Banking Arrangements Name\/s and address\/es of the bank\/s in India from whom facilities are proposed to be obtained<\/p>\n 2. Facilities Required<\/p>\n Period for which required<\/p>\n Amount Rs. Lakhs<\/p>\n (a) Fund-based Facility (a)<\/p>\n (i) Preshipment credit<\/p>\n (i)<\/p>\n (ii) Deferred Credit (ii)<\/p>\n (iii) Credit against export incentives (iii)<\/p>\n (iv) Other credit facilities (Please specify) (iv)<\/p>\n (b) Non-funded Facilities<\/p>\n As%of Currency Equivalent Period Contract of issues Indian Rs. Value & amount in lakhs<\/p>\n (i) Advance payment guarantee<\/p>\n (ii) Performance guarantee<\/p>\n (iii) Retention Mone<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n best of our knowledge and belief.<\/p>\n STAMP<\/p>\n (Signature of Authorised Official)<\/p>\n Place:<\/p>\n Date:<\/p>\n Name:<\/p>\n Designation:<\/p>\n 75<\/p>\n ANNEXURE I TO FORM PEX 1 [Note under 3(a) and 3(b) of PEX 1]<\/p>\n Details of Foreign Contractor (where applicable)<\/p>\n To be completed where the Indian exporter is a sub-supplier to\/joint bidder with a foreign prime contractor. (Please furnish the details on the foreign prime contractor, joint bidder\/s or consortium members as applicable).<\/p>\n (a) Name and address<\/p>\n (b) Nature of goods and services relating to each member<\/p>\n (c) Approximate value of offer by each member<\/p>\n (d) Whether payment terms are on back-to-back basis (Yes\/No)<\/p>\n (e) Mode of receipt of payment<\/p>\n (f) Details of banking arrangement made for the offer<\/p>\n (g) Past experience of foreign prime contractor\/members\/joint bidders<\/p>\n (h) Whether banker's report furnished on each member (Yes\/No)<\/p>\n (i) Details of past dealings of exporter with each member\/joint bidder<\/p>\n (j) Details of inter se<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ion*<\/p>\n @ The particulars of the major items included under this head may be furnished as under:<\/p>\n Description of the machinery Value (in lakhs of rupees)<\/p>\n * The value shown against these heads should tally with that shown against item 10 of the application<\/p>\n 78<\/p>\n Appendix II to Form PEX 1 [Item No.23(f)(ii) of PEX 1]<\/p>\n Estimates of cost of construction and profitability<\/p>\n (Amounts in lakhs of rupees)<\/p>\n Domestic costs Foreign exchange costs Local currency costs Total<\/p>\n 1. Cost of goods<\/p>\n (i) Raw materials and components (excluding duties) indigenous<\/p>\n Imported: (a) into India (b) direct into importing country<\/p>\n (ii) Machinery and equipment other than that required for use in contract (i.e. supplied for installation)<\/p>\n 2. Direct labour<\/p>\n 3. Depreciation on equipment used (purchase price minus estimated realisable value on completion)<\/p>\n 4. Royalty on export sales<\/p>\n 5. Overseas agent's commission<\/p>\n 6. Other commission and service charges\/ Interest on borrowings abroad<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n )<\/p>\n do hereby undertake that we shall on the completion of the said contract, re-import the said equipment within one month from the date of completion of the said contract. We also hereby undertake that any amount received by us by way of hire charges by hiring out any of the said equipment to third parties abroad, would be repatriated within 30 days from the date of such receipt.<\/p>\n We undertake that in the event of any of the said equipment becoming unusable or is such that it is uneconomical to re-import it into India, we shall arrange to dispose of the same at the best possible price either as a scrap or otherwise and repatriate its proceeds into India within 30 days from the date of the said sale.<\/p>\n We hereby agree that for purposes of this undertaking the decision of the approving authority, whether or not the contract is completed, would be final.<\/p>\n This undertaking shall be binding on our successors and assigns\/our heirs\/legal representatives\/heirs\/administrators.<\/p>\n Schedu<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n cture, etc. of the overseas employers, broad details may be indicated (b) (c)<\/p>\n (d) Main lines of activity (e) Explain past experience, if any with buyer\/employer (d) (e)<\/p>\n 81<\/p>\n III. Name and Address of Prime Contractor (If other than overseas buyer)<\/p>\n IV. Export Contract<\/p>\n (a) Date of Signing the contract (a)<\/p>\n (b) Effective date (b)<\/p>\n V. (a) Description of the proposal mentioning the scope of work, broad description of goods, nature of services to be rendered (b) Total value (a) (b)<\/p>\n (i) In foreign currency (ii) Equivalent Indian Rupees (iii) Exchange rate<\/p>\n VI. Break up of Contract Value<\/p>\n Indian (Rs. in lakhs) Goods Services Total<\/p>\n Third Country Local<\/p>\n Total<\/p>\n 82<\/p>\n VII. Payment Terms<\/p>\n (a) (i) Currency of payment with % for each currency (a) (i)<\/p>\n (ii)<\/p>\n (ii) If currency of payment is Indian Rupees, whether payments will be received under any bilateral trade and payments agreement.<\/p>\n (iii)<\/p>\n (iii) If currency of payment is not Indian Rupees, will there <\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n interest will be receivable<\/p>\n 83<\/p>\n VIII. Security<\/p>\n Nature of Security to be furnished by the buyers for :<\/p>\n (a)<\/p>\n (a) Down Payment (b) (c)<\/p>\n (b) Progress Payments (c) Deferred Receivables and interest<\/p>\n IX. (a) Commencement (approx. date) (a)<\/p>\n (b) Completion (b)<\/p>\n (c) Maintenance period, if any (c) (d)<\/p>\n (d) Whether time schedule furnished above is as per tender requirement. If not, reasons for change<\/p>\n X. (a) Break-up (a) Item Amount Percentage<\/p>\n (i) CIF cost of raw materials and components proposed to be imported into India for the execution of the order or value of import replenishment entitlement whichever is higher (i)<\/p>\n (ii) Freight on exports<\/p>\n (ii Third Country imports<\/p>\n (i v) Agency commission\/fees (v) Interest on overseas borrowings and other charges (vi) Remittances of royalty payment, if any, and Exchange Control approval therefor. Total (b) Nature of raw materials and com<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n Percentage and amount of commission payable (c)<\/p>\n XIII. Cost and Profitability Amount<\/p>\n Estimated net profits (Please furnish detailed cost and profitability as per Annexure II). Percentage<\/p>\n 85<\/p>\n XIV. Status of Exporter State whether Prime Exporter or Consortium Member\/Joint Bidder<\/p>\n (a) If a Prime Exporter – (a)<\/p>\n (i) Name and address\/es of major sub- supplier\/s (i)<\/p>\n (ii)<\/p>\n (ii) Nature of goods\/services relating to each sub- supplier\/s and value thereof<\/p>\n (iii)<\/p>\n (iii) Payment and other back-to-back arrangements with sub-supplier\/s<\/p>\n (iv)<\/p>\n (iv) Past experience of major sub-supplier\/s (Recent Annual Report and write-up on their activities to be furnished) (v)<\/p>\n (v) Details of banking arrangements made by sub-suppliers for the contract.<\/p>\n (NOTE: If prime exporter is sub-supplier to a foreign principal other than the overseas buyer, Annexure III may be completed)<\/p>\n (b)<\/p>\n (b) If a member of consortium\/joint bidder (i)<\/p>\n (i) Name and address of the leader (ii)<\/p>\n (ii)<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n n the contract<\/p>\n (Rs. In Lakhs)<\/p>\n Foreign Currency<\/p>\n Local<\/p>\n Total<\/p>\n (ii)<\/p>\n (ii) How salary and wages etc. will be paid in foreign currency in case of deferred payment contract<\/p>\n (c) Are there any minimum wages and other labour laws prevailing in the importing country? If so, particulars thereof may be given (d)<\/p>\n (c)<\/p>\n (d) Are there any restrictions on the employment of outside labour in the importing country ? (e)<\/p>\n (e) What is the position of availability of required skilled and unskilled labour in the importing country?<\/p>\n (f) What are the general living conditions regarding accommodation, water and power in the area where the contract is to be executed (f)<\/p>\n XVI. Arrangement for Procurement<\/p>\n Please furnish information regarding tie-ups for sub-contracting and services as per Annexure IV<\/p>\n 87<\/p>\n XVII. Equipment, Tools and Tackles (a) Particulars and value of construction equipment, tools and tackles and materials required from India, third country and country where pr<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ct period including maintenance]<\/p>\n XIX. Overseas Organisation Proposed to Execute the Contract<\/p>\n XX. Overseas Expenditure Amount and nature of overseas expenditure involved [Please attach currency-wise cash-flow statement (monthly or quarterly) for Indian, third country and local portion (separately) covering the contract period including maintenance]<\/p>\n 88<\/p>\n XXI. (a) Provisions in the contract in respect of the following (a)<\/p>\n (i) Penalties\/Liquidated damages and ceiling, period of delay for which minimum penalty becomes applicable, may also be indicated (i)<\/p>\n (ii) Price escalation ii)<\/p>\n (iii) force majeure<\/p>\n (i Arbitration v)<\/p>\n v) Law governing the contract [items (iii) and (iv) should invariably be included in the contract] (v)<\/p>\n (b) Brief account on Taxation provisions affecting repatriation of profit and salaries (b)<\/p>\n XXII. Any other information<\/p>\n XXIII. Documents to be attached with the application (attach certified true copies)<\/p>\n (a) Balance sheets and profit and lo<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n proposed to be obtained<\/p>\n (2) Facilities<\/p>\n (a) Funded Facilities Amount Period for which required<\/p>\n (i) Preshipment credit Rs. Lakhs<\/p>\n (ii) Deferred credit<\/p>\n (iii) Credit against export incentives<\/p>\n (iv) Other credit facilities (please specify)<\/p>\n (b) Non-funded Facilities<\/p>\n As%of Currency the con- of issue tract and value amount Equivalent Indian Rupees (Lakhs)<\/p>\n (i) Advance payment guarantee (i) (ii) (iii)<\/p>\n (ii) Performance guarantee<\/p>\n (iii) Retention Money guarantee<\/p>\n (iv) Guarantee for borrowings abroad (please furnish currency-wise cash flow in support) (v) Other guarantees and L\/Cs etc. (please specify) (v)<\/p>\n (Please state period of guarantee against each item.)<\/p>\n (iv) Guarantee for borrowings abroad (please furnish currency-wise cash flow in support)<\/p>\n 90<\/p>\n (3) Other Facilities Number Location<\/p>\n (i) Site office\/s overseas (i)<\/p>\n (ii) Liaison office\/s overseas (ii)<\/p>\n (iii) Overseas bank account\/s (if more than one is required, reasons thereof) (iii)\n<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 4 Less instalments, if any, received from the importer<\/p>\n 5 Outstandings at the end of the period<\/p>\n NOTE : Quarterly figures to be given till the limit is expected to be fully drawn; thereafter, figures may be furnished at quarterly\/half-yearly\/yearly intervals depending on the receipt of the deferred instalments.<\/p>\n 92<\/p>\n ANNEXURE I to Form TCS 1 (Item 1 of Form TCS 1)<\/p>\n Information on the Exporter<\/p>\n (a) Name (a)<\/p>\n (b) Registered Office (b)<\/p>\n (c) Branch Offices (c)<\/p>\n (d) Constitution (d)<\/p>\n (i) Public Limited Company<\/p>\n (ii) Private Limited Company<\/p>\n (iii) Partnership firm<\/p>\n (iv) Proprietory concern<\/p>\n (e) Code No. (6<\/p>\n (f) Location of factories, if any (f)<\/p>\n (g) Name\/s of the Proprietor\/Partners\/Directors (g)<\/p>\n (h) Year of establishment\/incorporation and (h)<\/p>\n commencement of operation<\/p>\n (i) Main line of activities (give details of range of (i)<\/p>\n activities, fields of range (j) Details of operat<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ange repatriated to India (year-wise), profit generated in India, extent of loss, if any, and the amount of remittance allowed from India to meet the loss. (ii) Particulars of outstanding tenders\/offers, relating to consultancy\/technical services contract. (i)<\/p>\n (ii)<\/p>\n 94<\/p>\n ANNEXURE II to Form TCS 1 (Item XIII and XXIII (f)(i) of Form TCS1)<\/p>\n Cost and Profitability Statement<\/p>\n Details Rupee Costs Foreign Currency Costs Local Currency Costs Total<\/p>\n 1. Materials 1<\/p>\n (a) Indigenous (b) Imported into India (including canalized items) (c) Direct into importing country (CIF Value) 2<\/p>\n 2. Know-How\/Technical Assistance 3<\/p>\n 3. Salary and Wages of Technical and<\/p>\n Other Personnel 4<\/p>\n 4. Description of Equipment at Site 5<\/p>\n 5. Overheads (Accommodation etc.) 6<\/p>\n 6. Air Travel 7<\/p>\n 7. Taxes and Duties (%) a)<\/p>\n (a) Excise Duties (b)<\/p>\n (b) Import Duties (c)<\/p>\n (c) Taxes (please specify) 8<\/p>\n 8. Royalty on Exports 9<\/p>\n 9. Agent's Commission\/Fee (%) 10<\/p>\n 10. Fi<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n h the details on the foreign prime contractor, joint bidder\/s or a consortium members, as applicable)<\/p>\n (a) Name and address<\/p>\n (b) Nature of goods and services relating to each member<\/p>\n (c) Approximate value of offer by each member<\/p>\n (d) Whether payment terms are on back-to-back basis (Yes\/No)<\/p>\n (e) Mode of receipt of payment<\/p>\n (f) Details of banking arrangements made for the offer<\/p>\n (g) Past experience of foreign prime contractor\/consortium member\/joint bidder<\/p>\n (h) Whether banker's report furnished on each member (Yes\/No)<\/p>\n (i) Details of past dealings of exporter with each consortium member\/joint bidder<\/p>\n (j) Details of inter se arrangements among consortium members<\/p>\n 96<\/p>\n Annexure IV to Form TCS 1 (Item XVI and XXIII(h) of Form TCS1)<\/p>\n Details of Main Sub-contractors for Services<\/p>\n Brief Description\/ Specification of Services Contractor' s Name Approx. Value of Sub-contract Firm Offer (Yes\/No) Date till which valid Details of Warranty\/Bank Guarantee (if any)<\/p>\n A. Ind<\/p>\n = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Export of Goods and Services \u2013 Project Exports11 Dated:- 22-7-2014 CircularFEMASuperseded vide A.P. (DIR Series) Circular No. 20 dated 16-01-2026 w.e.f. 01-10-2026 RBI\/2014-15\/141 A.P. (DIR Series) Circular No.11 July 22, 2014 To All Category – I Authorised Dealer Banks Madam\/ Sir, Export of Goods and Services – Project Exports Attention of Authorised Dealers is invited to … Continue reading “Export of Goods and Services \u2013 Project Exports”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-577","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=577"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/577\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n(no. of accounts) foreign currency accounts<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n (1)<\/p>\n
\n (2)<\/p>\n
\n (3)<\/p>\n
\n (iv)<\/p>\n
\n (v)<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n (b)<\/p>\n
\n (c)<\/p>\n
\nCosts Foreign
\nExchange
\nCosts currency
\nLocal Costs Total<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n (c)<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n (i)<\/p>\n
\n (ii)<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nDetails of banking arrangements made by leader\/consortium members for the contract )<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n Time Schedule (In Months)<\/p>\n
\n Foreign Exchange Outgo<\/p>\n
\n EEEE
\n(v)<\/p>\n
\n (vi)<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n (iv)<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nspecialization) of activities, fields of Years<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n (a)<\/p>\n
\n (b)<\/p>\n
\n (c)<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
For full text:-Visit the Source <\/a><\/p>\n