LOC
New LOC system for on-line authorization and issue of LOC to make transfer of fund faster for timely execution of the developmental works in a transparent manner.
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Guidelines for Payment of Bills of Works/ Forest Departments
Every bill drawn in TR Form No. 70 against such Project IDs would be charged against the approved project cost. Enhancement of approved project cost may be made after due approval of competent authority.
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Discontinuation of LOC System – Migration from Forest Account
Procedure for migration of outstanding deposit works/ security deposit account balance from Forest accounts to the books of accounts maintained in the Treasury.
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Discontinuation of LOC System – Remittance of Fund
To ensure credit of the amount in the works deposit account opened in the Treasury/ PAO in favour the works/ resource division as the fund was meant for undertaking deposit works.
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Discontinuation of LOC System – Procedure for Bulk Purchase
Resource division will procure the materials within the delegated power of the Executive Engineer in charge of the Resource Division concerned. Otherwise sanction from the competent authority shall be necessary.
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Discontinuation of LOC System – Further Guidelines
The requisitioning non-works department will provide fund through e-bantan to the authority in the works department, i.e., Chief Engineer, along with administrative approval;
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Discontinuation of LOC System – Procedure of Drawal of Fund
A detailed procedure of drawal of fund from the Treasury/ PAO for expenditure related to Works and Forest and its accounting in the respective divisional office and Treasury/ PAO.
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Discontinuation of present Letter of Credit (LOC) System
Discontinue the present LOC System for execution of Works and Forest Expenditure and bring the working of the Works and Forest Divisions under the ambit of the Treasury System through allotment of funds w.e.f. 01.04.2015.
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Validity of LOC Cheques issued before 31.03.2014
All the L.O.C. Cheques issued on or before 31.03.2014 by the Divisional Officers of Public Works Executing Departments and Forest Department of the State Government shall remain valid for encashment upto 10.04.2014.
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Guidelines for Issuing LOC of Deposit Works – Unspent Balance
LOC Issuing Authority shall approach their respective Administrative Department for issuing sanction order authorising them to issue LOC against the balance unspent amount.
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Letter of Credit Monitoring System (LOCMS)
Letter of Credit Monitoring System is On-line authorization and sanction of LOC in order to speedy transfer of fund for timely execution of development works in a transparent way.
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