Rule 10
Facilities To Be Received To The Licensee Of The Bonded Ware House
(1) The licensee of the bonded ware house as per Sub-rule (9), may import necessary raw materials and the auxiliary raw materials (including the packaging materials not produced in Nepal) upon furnishing of the bank guarantee equivalent to the Customs duty chargeable for the purpose of producing goods for export or sale in Nepal in convertible foreign currency.
(2) While furnishing Bank Guarantee pursuant to Sub-rule (1) one shall furnished on amount equivalent to the total of chargeable Customs duty in addition to Twenty Five percent on such Customs duty.
(3) The time period of the bank guarantee to be issued pursuant to Sub-rule (1) shall be from Six months to One year. In case of Six months bank guarantee, if an extension is required beyond Six months, it may be extended upto Six months in maximum. Provided that, in case the time period extended pursuant to Sub- rule
(13), Bank Guarantee time period shall also be extended accordingly.
(4) In case of packing materials not produced in Nepal, the Department shall provide bonded warehouse facilities on the recommendation of the Department of Industry stating that the packing materials are not produced in Nepal and bonded warehouse facility be extended.
(5) The owner who received the license of bonded ware house to operate the duty free shop, shall furnish the bank guarantee equivalent to the chargeable Customs duty for the import of goods to sale from the duty free shop. In order to import such goods, an approval of the list of goods and their quantity shall be received from the Department.
(5a) The goods imported pursuant to Sub-rule (5), the liquor and cigarette shall be sold to the person and organization specified to receive diplomatic and Customs duty privilege on the recommendation of Ministry of Foreign Affairs , Government of Nepal as referred to in Sub-rule (2) of Rule 3.
(6) Industry licensed to operate bonded warehouse pursuant to an agreement with the foreign buyer to buy its product under buyback agreement and with the recommendation of Department of Commerce may import raw materials and auxiliary raw materials under bank 2 Amended by Second Amendment. guarantee equivalent to Customs duty without opening of Letter of Credit. The product under this agreement shall be made of the raw materials and auxiliary raw materials of no value sent by the foreign buyer charging only the cost of production incurred during production process and the profit and exported to same buyer or other buyer if recommended by Ministry of Commerce.
(7) The importer who is importing as per Sub-rule (6), shall submit the recommendation letter of the Department of Commerce specifying the necessary procedures and the terms and condition for import without letter of credit agreement with the foreign buyer, and invoice of value for the Customs purpose only with the declaration form.
(8) In order to furnish the bank guarantee pursuant to this Rule, the bank guarantee shall be issued only by the Bank or the financial institution permitted to do so under the prevailing law.
(2) While furnishing Bank Guarantee pursuant to Sub-rule (1) one shall furnished on amount equivalent to the total of chargeable Customs duty in addition to Twenty Five percent on such Customs duty.
(3) The time period of the bank guarantee to be issued pursuant to Sub-rule (1) shall be from Six months to One year. In case of Six months bank guarantee, if an extension is required beyond Six months, it may be extended upto Six months in maximum. Provided that, in case the time period extended pursuant to Sub- rule
(13), Bank Guarantee time period shall also be extended accordingly.
(4) In case of packing materials not produced in Nepal, the Department shall provide bonded warehouse facilities on the recommendation of the Department of Industry stating that the packing materials are not produced in Nepal and bonded warehouse facility be extended.
(5) The owner who received the license of bonded ware house to operate the duty free shop, shall furnish the bank guarantee equivalent to the chargeable Customs duty for the import of goods to sale from the duty free shop. In order to import such goods, an approval of the list of goods and their quantity shall be received from the Department.
(5a) The goods imported pursuant to Sub-rule (5), the liquor and cigarette shall be sold to the person and organization specified to receive diplomatic and Customs duty privilege on the recommendation of Ministry of Foreign Affairs , Government of Nepal as referred to in Sub-rule (2) of Rule 3.
(6) Industry licensed to operate bonded warehouse pursuant to an agreement with the foreign buyer to buy its product under buyback agreement and with the recommendation of Department of Commerce may import raw materials and auxiliary raw materials under bank 2 Amended by Second Amendment. guarantee equivalent to Customs duty without opening of Letter of Credit. The product under this agreement shall be made of the raw materials and auxiliary raw materials of no value sent by the foreign buyer charging only the cost of production incurred during production process and the profit and exported to same buyer or other buyer if recommended by Ministry of Commerce.
(7) The importer who is importing as per Sub-rule (6), shall submit the recommendation letter of the Department of Commerce specifying the necessary procedures and the terms and condition for import without letter of credit agreement with the foreign buyer, and invoice of value for the Customs purpose only with the declaration form.
(8) In order to furnish the bank guarantee pursuant to this Rule, the bank guarantee shall be issued only by the Bank or the financial institution permitted to do so under the prevailing law.