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Legal undertaking / lut execution

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Legal undertaking / LUT execution

After obtaining the initial approval the STP / EHTP units have to enter into a LUT with STPI. The following is the procedure for the execution of the legal agreement :

  1. Acceptance to the standard terms and conditions of the approval letter and the conditions stipulated at Annexure1a

  2. The acceptance letter to be sent to MIT and SIA with a copy to STPI Rourkela, to the addresses specified at Annexure1b

  3. Legal agreement as per the format at Annexure2 has to be typed on a Rs. 50.00 stamp paper.

  4. The legal agreement should be signed on all the pages.

  5. Common embossed seal to be affixed on all the pages.

  6. Witness signatures to be done

  7. Importer exporter code number obtained from DGFT has to be enclosed

  8. Board resolution copy to be enclosed

  9. Advance service charge of Rs. 45000.00 to be given

  10. Application of the Green Card as per Annexure - 3

  11. Bank certificate for maintaining the bank account

  12. Photo copy of the legal agreement with original signatures

  13. List of CG import as per format

(Des Qty Value)

  1. List of CG indigenous as per format

(Des Qty Value)

Check list for LUT execution:

  1. Service Charges given

  2. Verification of the name with the approval letter

  3. Execution date of the legal agreement should be after the approval date, IEC date and date of the Demand Draft

  4. STPI’s approval No. to be mentioned in Page No.1, para 2, 1st line and Clause No.9 of the legal agreement.

  5. Acceptance letter to be submitted to STPI-Rourkela, SIA and MIT

  6. Reference No. mentioned in the acceptance letter should be mentioned in Page No.1, para 2, last line of the legal agreement.

  7. Common Embossed seal to be affixed

  8. Director’s signature to be affixed on the place provided with their address

  9. Witness signature to be obtained with the address

  10. Value of list is within the approved limit

  11. Value of list is within the approved limit

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