Dear All,

I have raised an online request for Surrender of IEC. 

Recently, I received a Deficiency Letter stating the following:

"You are requested to furnish indemnity cum guarantee bond duly attested by notary consent letter from each partner for surrendering the IEC".

Can you please provide me with a format for the above-mentioned Bond and the value of stamp paper required, if any?

Awaiting a prompt reply on the query. Thanks in advance.

Best Regards,

Paul

I know it is littile late . but this will be helpful for someone else. i used below format and printed on  inr 500 stamp paper and notarised . and repsponded the deficiency. finally my surrender request was approved. i am also attaching the consent letter for partner template below

INDEMNITY-CUM-GUARANTEE BOND

1. Parties to the Bond:

This Indemnity-cum-Guarantee Bond is executed on this date by:

a. company name, a Limited Liability Partnership incorporated under the Limited Liability Partnership Act, 2008, having its registered office at company address, India (hereinafter referred to as "the Indemnifier and Guarantor").

Represented by its Designated Partners:

• name (Designated Partner DPIN:fill here)
• name(Designated Partner DPIN:fill here)

b. Directorate General of Foreign Trade (DGFT), Vanijya Bhawan, 'A' Wing, 16 Akbar Road, New Delhi – 110011 (hereinafter referred to as "the Beneficiary").

2. Background:

Company name, having IEC Code: enter code, is required to submit this Indemnity-cum-Guarantee Bond to DGFT to indemnify the authority from any liabilities, claims, or dues arising from the surrender of the IEC and to guarantee that there are no pending dues or obligations tied to the IEC.

3. Indemnity Clause:

(a) Indemnification:
We, Company name(represented by its Designated Partners,), hereby agree to indemnify, defend, and hold harmless DGFT and its officials, employees, and agents from any and all claims, liabilities, losses, damages, expenses, fines, or penalties that may arise out of or in connection with any acts, omissions, defaults, or violations related to IEC Code(enter iec code here), including the surrender of the said IEC.

(b) Liabilities:
We also agree to pay all outstanding liabilities, including customs duties, penalties, taxes, or any other sums due, that may arise in relation to the IEC and/or our operations under it, whether known or unknown at the time of the surrender of the IEC.

4. Guarantee Clause:

(a) No Due Guarantee:
We hereby guarantee that upon the surrender of IEC Code enter code here, all dues and liabilities, including but not limited to outstanding payments, taxes, fines, or any legal obligations, relating to the said IEC are cleared in full as of the date of this bond.

(b) Payment of Future Claims:
In the event that any claims or liabilities arise in the future related to the said IEC, we guarantee to settle such claims or liabilities promptly and in full, to the satisfaction of DGFT and as per applicable laws, even after the IEC is surrendered and cancelled.

5. Execution:

This Indemnity-cum-Guarantee Bond has been executed by the undersigned on behalf of company name here and is duly authorized by the partners of the LLP.

Signatures:

For and on behalf of company name:

Date: 

Place:

Signature :
Name:
DPIN:
Date: 

Witnesses:

1.     Name :

Address:

Signature: _____________________

2.     Name :

Address:

Signature: _____________________

Consent letter 

To,

Directorate General of Foreign Trade

 Vanijya Bhawan, 'A' Wing,

16 Akbar Road, New Delhi – 110011

Sub: Consent for Surrendering IEC

With respect to the subject matter cited above, I name S/o. father’s name, Designated Partner of company name give my consent that an application shall be moved to the DGFT to surrender IEC (enter iec code),as not intending to do any import export operations in the future.

I further assure and undertake that there is no pending litigation and liability to pay off by way of Indemnity bond.

Thanking you,

Yours truly

___________________

name

Designated Partner

DIN: enter din

Attached Format for Reference

INDEMNITY BOND

       This Indemnity bond is made on 09^th day July 2025 by M/s. XXXXXXXXX, having is registered office at XXXXXXXXXXXXXXXXXX, Bengaluru Urban, Karnataka – 560020, India holding IEC Number XXXXXXXXXXXX in favour of the Director General of Foreign Trade (DGFT).

WHEREAS,

1.     The Indemnifier has Obtained IEC Number XXXXXXXXX from DGFT for carrying out import/export activities.

2.     The Indemnifier desires to surrender the said IEC

NOW THIS BOND WITNESSETH AS UNDER:

1.     That the Indemnifier undertake that all liabilities and obligations arising of the said IEC are cleared.

2.     That the Indemnifier shall Indemnify and keep DGFT harmless against any future liabilities, claims or damages arising due to the issuance or usage of the said IEC.

3.     That this bond is executed voluntarily and will be binding on the indemnifier and its legal representatives.

IN WITNESS WHEREOF, the Indemnifier has signed this bond on the day, month and year first above written.

For M/s XXXXXXXXXX

XXXXXXXXXXX

Proprietor

Witness:

1

2.