Procedure for Purchase of Imported Equipment:

1. Seek permission from the Dean to purchase the material by inviting quotations from suppliers. Specifications of the materials to be purchased should be scrutinized from AE (M&E) or any other competent authority prior to sending the proposal to dean. Proposal should also clearly mention financial sources wherein the purchase of the material is budgeted for.

2. Inviting quotations and selection of the prospective supplier should be done by the stipulated procedure followed by the institution. The AE (M&E) or any other competent authorities must involve in process of technical scrutiny and in the selection of the prospective supplier.

3. Obtain the proforma invoice from the selected supplier. It should contain the following :

b. Mode of payment for the proposed purchase. Payment to the foreign company can be made by any one of the following modes

i By Issuing a Foreign Demand Draft
ii. Through Wire Transfer
iii Through Letter of Credit (L/C)

The first two modes mentioned above (i & ii) are modes of advance payment while for the third mode; the payment is released after the consignment arrives at the airport.

c. Terms & conditions of company for said purchase / import.

d. Details of the bank to which the amount is to be transferred

i) Name of the company.
ii) Bank Name / Account No.
iii) Bank’s swift Code
iv) Details of Bank Address.

4. Place an order to the supplier on the basis of the proforma invoice. Kindly preserve an office copy of the order letter.

5. For making payment through DJST to the supplier, a formal request to the Secretary, DJST along with atleast one set of copies of all the above mentioned documents should be forwarded. The name of the account in DJST, from which the payment is to be debited, should be clearly mentioned. It is also mandatory to furnish the customs classification No. and import-export code No.

6. DJST holds a bank account in Parel branch of Bank of Maharashtra (Tel: 022-24133145), which doesn’t have the foreign exchange facility. Hence, all the documents petitioning to request for payment in foreign currency are forwarded from this branch to the foreign exchange branch of the bank at Dadar (Tel. 022-24306205)

7. It is necessary to submit the application on DJST letterhead to the bank along with A1 form (duplicates), LC form and declaration forms duly filled in and special adhesive stamp affixed, along with the set of documents mentioned in item No.5 Please note that the paper work required for submission of documents to the bank has to be done by the individual department. However, do not hesitate to contact us at any stage if you have any queries.

8. The bank directly remits payment or sends the intimation of the payment to bankers of supplier in case of wire transfer and letter of credit. While demand draft will have to be collected from the bank and sent to the beneficiary by the purchaser. However, copies of these bank instruments have to be preserved with purchasing department till the entire procedure of the purchase is completed.

9. The arrival of the material at the cargo complex of the airport is generally intimated to the purchaser by cargo arrival notice along with airway bill sent by freight forwarding agent of the respective airline.

10. A Delivery Order (DO) should be obtained from the bank by submitting a request letter on DJST letterhead along with the documents mentioned in item No. 9. The DO enables the purchaser to clear the consignment for the cargo complex.

11. The consignments in our institution are generally cleared through the MCGM approved clearing agent.

12. The following documents should be submitted to the clearing agent

The clearing charges will have to be borne by the purchasing department which could be debited from respective DJST account on request, if it is desired to be paid through DJST.

 

 

 

 

 

 

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