Advance Payment
Sometimes the exporter may receive the payment for the item to be exported in advance without waiting for documents in such a case the advance payment received for this purpose is required to be declared by the exporter on the prescribed form. Advance payment voucher. A proceed certificate is issued to the exporter. For such payments which is required to be produced at the time of presentation of documents for negotiation.
Advance payment is certified on the reverse side of ‘E’ from under the seal and signatures of the authorized dealer which is required for reporting to the state bank of Pakistan
CERTIFICATION
After certifying the correctness of the E-' Form certification register in the folio allocated to each exporter separately. Bank / branch stamp is filled beneath the duly certified are delivered to the exporter or his authorized person.
Submission of 'E* Form:
After certification of 'E' form all the four copies are submitted by the exporter along with shipping bill to (he customs authorities for clearance (^'consignment. Three copies of ‘E' form are returned by the custom authorities retaining the original after endorsement of shipment on relative portion on 'E' form. The duplicate copies retained by the exporter while the duplicate and triplicate copies are submitted to the authorized dealers along with other documents for negotiation within 14 days from the date of shipment. The bank retains the quadruplicate copy for its record while the duplicate coy is surrendered to State Bank of Pakistan or realization proceeds.
Utilization of ‘E’ Form
‘E’ form should invariably be utilized and received within 21 days from the date of certification for 14 days from the date of shipment failing which the exporter is persuaded to submit without further delay. In case the exporter does not respond to the requests, the matter is reported to State Bank of Pakistan.
Cancellation of form ‘E’
‘E’ form is canceled is 2 ways.
- If goods are not exported and ‘E’ form is not presented to the customs the authorities, the same is surrendered to the cancellation which is recorded in the separate file duly marked ‘canceled’.
- If ‘E’ form has been tendered to customers authorities but the goods could not be shipped due to non – availability of space in shop or due to any other reason, the exporter is required to submit three copes of ‘E’ form along with original.
Shut out notice duly stamped and certified by customs to the bank. The bank submits all the three copies along with shut out notice to the state bank of Pakistan under a covering letter for cancellation and record at their end.
