All export consignments based on letters of credit (LC) or contract will now have to submit bank registered contacts and LC from today (June 25) if they want clearance.
The Federal Board of Revenue (FBR) has made the submission of bank registered contract and letter of credit along with goods declaration mandatory for the clearance of export consignment.
All exporters who are currently exporting on letters of credit or on a contractual basis, will have to scan/upload bank registered contracts and letter of credit to the FBR in addition to the documents already required. This is in accordance with paragraph 3 of the Export Policy Order 2016 date April 18, 2016 read with section 155 M of the Customs Act 1969 and Foreign Exchange Rules and Regulations notified by the State Bank of Pakistan.
All exporters have been directed by the board to ensure the submission of both documents posthaste.