Frequently Asked Questions (FAQs) Question and Answer
Q. Is it the responsibility of the AD to verify the price of the goods to be imported?
Yes. Before opening of LC or issuing LCAF, the AD shall have to take usual and reasonable cautionary measures to ensure that both the exporter and importer are bonafide businessmen of the goods concerned, the exporting country is the usual exporter of the goods concerned and the price of the goods concerned is competitive in terms of prevailing price in the international market on the date of contract and/or similar imports in contemporary period.
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