Sample Undertaking Form PDF Details

In a world where international financial transactions are the backbone of global commerce, ensuring compliance with legal frameworks is paramount. The Sample Undertaking Form serves as a critical document under the auspices of the Foreign Exchange Management Act, 1999, specifically under its Section 10(5), Chapter III. This form acts as a formal declaration by individuals or entities engaging in foreign exchange transactions, affirming that their actions do not contravene or evade the provisions of the Act or any related rules, regulations, notifications, directions, or orders. It obligates the declarant to furnish any information or documents that may be required to substantiate the authenticity of the transaction detailed in the attached schedule. Furthermore, the form incorporates a stern warning against non-compliance, highlighting the banking institution's authority to reject any transaction it suspects of violation. Additionally, in circumstances where the declaration is made on behalf of a company or firm, it necessitates the authority of the undersigned to act in such a capacity, therefore embedding an element of accountability. This undertaking not only plays a pivotal role in preserving the integrity of financial transactions but also safeguards the interests of all parties involved by ensuring adherence to the established legal framework.

QuestionAnswer
Form NameSample Undertaking Form
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesfema declaration form, sbi fema declaration form, fema declaration form for inward remittance sbi pdf, fema declaration form for inward remittance

Form Preview Example

Form 2

DECLARATION-cum-UNDERTAKING

[Under Section 10(5), Chapter III of The Foreign Exchange Management Act, 1999]

I / We hereby declare that the transaction the details of which are specifically mentioned in the Schedule hereunder does not involve, and is not designed for the purpose of any contravention or evasion of the provisions of the aforesaid Act or of any rule, regulation, notification, direction or order made there under.

I / We also hereby agree and undertake to give such information / documents as will reasonably satisfy you about this transaction in terms of the above declaration.

I / We also understand that if I / We refuse to comply with any such requirement or make only unsatisfactory compliance herewith, the Bank shall refuse in writing to undertake the transaction and shall if it has reason to believe that any contravention / evasion is contemplated by me / us report the matter to Reserve Bank of India.

*I / We further declare that the undersigned has / have the authority to give this declaration and undertaking on behalf of the firm / company.

_______________________

Signature of the Applicant

for Foreign Exchange

Place :

Date :

*Applicable when the declaration / undertaking is signed on behalf of the firm / company.

___________________________________________________________________________

SCHEDULE

 

Nature / Purpose of Foreign Exchange transaction

: _______________________________

 

_______________________________

 

________________________________

Amount of Foreign Exchange

: _______________________________

Beneficiary

: _______________________________

 

________________________________

___________________________________________________________________________

For Office Use : Details of documentary evidence verified

1.

2.

3.

4.

5.

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