Customs provide duty-free facilities for the reimportation of goods that have obtained FRIC certificates. The normal procedure of FRIC is used for exporting goods that are intended for returning back to the country.
What is FRIC certificate?
FRIC stands for Free Re-Import certificate.
FRIC certificates are issued for providing duty-free facilities for importing goods.
There are some situations exporters need to export an article or item with the intention of returning the same item. In this scenario, the customs authority issues a certificate called FRIC. It uses to give import duty-free facilities for a particular item. Before the export, the item needs to obtain FRIC. That’s validity period is 2 years from the date of issuing.FRIC is Issued by customs at the export head office.
This duty-free facility commonly uses for the repair and return of items. Such as
- motor vehicles
- Machinery
- Equipment
- Items For the purpose of exhibitions
- , media equipment
- Items under the warranty or unrepairable in the domestic country.
What are the Conditions applying for endorsement of FRIC?
- Duly filled FRIC by a customs officer
- Need customs branch seal or government stamp.
- The registration number should be there that provides information about the export country.
- FRIC should be tallied with the invoice.
- Description and model number should be tally
- The serial number should be tallied, if there is no serial number for an item or article should be clearly identified
- Before the 2 years period export item should be returned. FRIC validity tie period is 2 years, If any case FRIC certificate expired or can not return before 2 years should be extended the FRIC certificate before 2 years
- If you are exporting an item for repairing purposes, that repairing value should not exceed 50% value of the item. And, the article should not change after the repair.
- The legitimate owner of the item or article should not be changed.
What are the products and items that can get FRIC certificate?
Motor vehicles
Machinery
Equipment
Goods of exhibitions
, media equipment
Items under the warranty or unrepairable in the domestic country
What is the purpose of issuing a FRIC certificate?
When reimporting the item there is an exemption for import duty
When issuing a FRIC certificate?
Prior to the export the goods need to obtain a FRIC certificate. Actually, FRIC was issued at the time of the export of the goods.
Who has the authority of issuing FRIC certificate?
FRIc certificate issued by Customs authority.
The validity period of FRIC certificate?
2 years from the date of issuing(exporting) FRIC is expired.
Why do you need to obtain FRIC certificate?
If you need to repair or send the item to a foreign country and returning to that country. The normal procedure is you must pay import and export duties. To avoid duty and other customs levies, you can obtain a FRIC certificate to enjoy duty-free facilities.
What is the meaning of FRIC?
Free re-import Certificate.
How can I get import export license in Sri Lanka?
Issued by customs at Export Office. You can get FRIC certificate from Sri Lanka customs when exporting a particular item or good by submitting an application to the export office.
To whom can enjoy the facility of FRIC?
Duty-free facility not only the exporters but also for people who carry items or articles when they travel, or send goods through postal or courier, etc.
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