8/11/2019 Undertaking Format Toewards RBI FEMA Violation

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UNDERTAKING

Sub: Export of ____ MT of _____________ to M/s ________ @ US$ ________ PMT

 

We, M/s ___________ having our registered office at ______________, India solemnly affirm :

1. (a) That we have approached !" for financial assistance towards e#port of said rice e#port $usinessin the name of !"

($) That we have negotiated discussed and finali%ed/firmed all the terms and conditions includingrice, &uantity, &uality/ variety, 'hipment date, lacement of vessel (if applica$le), chartering of vessel

(if applica$le), nomination of vessel/ship , incoterms /delivery terms, payment terms, documentary

reuirements or any other contractual o$ligations therein mentioned in this a$ove said e#port contract to

$e signed $y !" directly with the oreign *uyer and !" is only providing pure financial assistance to

the +ssociate towards e#penses / costs incurred towards e#ecution of the said e#port contract

(") That all the terms - conditions of !#port "ontract are fully accepta$le and $inding on us

2. That the price indicated in the !#port "ontract for e#port of _______ is neither under.invoiced nor over.invoiced

and is as per prevailing international rates for the a$ove.mentioned item and is at par with prices at which item

of similar uality $eing e#ported from India

. We will $e solely and fully responsi$le / undertaes for the competitiveness of price, selection of supplier and

uality - uantity of goods In case the prices are not competitive, !" can refuse to release the funds to us

towards the said e#port contract

!. !" shall not $e responsi$le under any circumstances for the uantity - uality of material at the port of 

loading as well as at the discharge port

". We undertae to ensure that the item to $e shipped shall $e strictly as per description - uality indicated in the

!#port "ontract We shall $e held solely lia$le and responsi$le for all conseuences arising out of variation

$etween item/uality contracted for - actually shipped and we undertae to fully indemnify !" in this regard

#. We here$y undertaes that in case !" is not a$le to reali%e the entire e#port $ill payment towards the said

e#port contract from the oreign *uyer as per the terms of the e#port contract and if !" faces any clarification

regarding violation of any rules/guidelines of !M+ /0*I at any point of time , We fully indemnifies !" for the

same and also undertaes to $ear all the cost/e#penses incurred if any towards the same

. In case of default $y foreign $uyer or una$le to pay the entire amount due to !" towards a$ove mentioned

e#port contract 1o ________, !" shall have full li$erty to reali%e the $efore said entire amount due from us

along with !"2s Trading Margin and which shall $e fully accepta$le to us

I, _________, as 3irector of "ompany, am fully authori%ed $y M/s _______ to sign this 4ndertaing on $ehalf of M/s __________ and the same shall $e fully $inding to M/s _________ all the time

or - on $ehalf of

lace : M/S ____________________   

3ate :

 

(+uthori%ed 'ignatory)