(NAR) VOL. 18 NO. 1/JANUARY - MARCH 2007
1.1 | To furnish SRA with a NOTICE TO WITHDRAW “E” SUGAR at least one working (1) day prior to the actual withdrawal of the “E” sugar from the mills. (A sample form of the said Notice to Withdraw is hereto attached*). |
Proof of compliance of this notice shall be presented to the SRA regulation officer during the actual withdrawal of the sugar; | |
1.2 | To directly deliver the withdrawn “E” sugar to the factory of the sugar-based food processors/exporters; |
1.3 | To allow the authorized SRA representatives to monitor in the withdrawal and delivery of the said “E” sugar including but not limited to the escorting of the said delivery to its intended destination; |
2.1 | To allow the authorized SRA representatives to monitor the delivery of “E” sugar to their factory and to conduct physical assessment of their sugar usage in their sugar warehouse during reasonable office hours; | |
2.2 | Posting of Performance Bond (to use the “E” sugar solely for products intended for export and to export the finished product) in an amount to be determined by the SRA guided by the price difference between the “B” or Domestic sugar and the “D” or World Market sugar. | |
This bond shall be submitted as part of the requirements in the issuance of clearance/authority to withdraw “E” sugar from the mill and the same shall be cancelled after the sugar-based food processors have fully liquidated the “E” sugar covered by the bond; | ||
2.3 | For the purpose of liquidation, to provide the SRA with all the documentary requirements for liquidation within six (6) months after the withdrawal of the “E” sugar from the mills in the same manner as those required under the Customs Bonded Warehouse (CBW) Program such as but not limited to: | |
2.3.1 | Export Sales Invoice/Export Declaration | |
2.3.2 | Statement of Liquidation | |
2.3.3 | Bank Remittance/Proof of payment/Bank Certification |