GTEB CIRCULAR NO. 012, July 24, 1989

[ GTEB CIRCULAR NO. 012, July 24, 1989 ]

CLARIFICATION ON C.B. CIRCULAR 1174, SERIES OF 1988

1. The subject Circular states that importation of commodities listed in the Annex to said Circular shall no longer require the prior approval of the concerned government agencies indicated therein, namely, the Board of Investments (BOI) and the Garments and Textile Export Board (GTEB) in the case of fabrics and textiles.

2. To answer questions as to whether or not import authorization from the above cited agencies shall be dispensed with in all cases, regardless of mode of importation and including instances when goods are to be imported under bond or when the corresponding taxes and duties are to be paid, the following shall be the requirement:

REQUIREMENTS FOR IMPORTATION UNDER BOND REQUIREMENTS FOR IMPORTATION WITH TAXES & DUTIES PAID

Mode of Importation

GTEB Import Authority

Endorse by GTEB to SGS

GTEB Import Authority

Endorsement by GTEB to SGS

Letter of Credit

X

-

-

-

Documents Against Acceptance

X

X

-

X

Open Account

X

X

-

X

Consignment

X

X

X

X

No $ Import (more than) P10,000.00

X

X

X

X

Please be guided accordingly.

Adopted: 24 July 1989

(SGD.) GLORIA M. ARROYO

Executive Director

Effective: 30 September 1989