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Bond & Legal Undertaking
The Unit shall execute a Bond-cum-Legal Undertaking in Form H, with regard to its obligations regarding proper utilization and accountable of goods, including capital goods, spares, raw materials, components and Consumables including fuels, imported or procured duty free and regarding achievement of positive net foreign exchange earning.
The Developer and Co-Developer shall execute in Form D with regard to their obligations regarding proper utilization and accountable of goods, including goods procured or imported by a contractor duly authorized by the Developer or Co-Developer as the case may be.
The value of the Bond-cum-Legal undertaking shall be equal to the amount of effective duties leviable on import or procurement from the Domestic Tariff Area.
Where the value falls short on account of requirement of additional goods, the Unit or the Developer shall submit additional Bond-cum-Legal Undertaking.
There shall be no debit and credit, the amount shall be monitored quarterly or yearly on the basis of Quarterly or Annual Progress Report submitted by the Developer or Unit
ACTIVITIES UNDER BOND CUM LEGAL UNDERTAKING |
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| The movement of goods between port of import or export and the Special Economic Zone |
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| The authorized operations, as applicable to Unit or Developer |
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Temporary removal of goods or goods manufactured in Unit for the purposes of repairs or testing or calibration or display or processing or sub-contracting of production process or production or other temporary removals into Domestic Tariff Area without payment of duty |
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| Re-import of exported goods |
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