Describe the privileges of Export and Trading House Status Holders in pursuance to the foreign trade policy.

Privileges of Export and Trading House Status Holder are as under: Authorisation and Customs Clearances for both imports and exports may be granted on self-declaration basis; Input-Output norms may be fixed on priority within 60 days by the Norms Committee; Exemption from furnishing of Bank Guarantee for Schemes under FTP, unless specified otherwise anywhere in FTP or Hand Book of Procedure (HBP); Exemption from compulsory negotiation of documents through banks. Remittance/receipts, however, would be received through banking channels; Two star and above Export houses shall be permitted to establish Export Warehouses as per Department of Revenue guidelines. Three Star and above Export House shall be entitled to get benefit of Accredited Clients Programme (ACP) as per the guidelines of CBEC. The status holders would be entitled to preferential treatment and priority in handling of their consignments by the concerned agencies. Manufacturers who are also status holders (Three Star/Four Star/Five Star) will be enabled to self-certify their manufactured goods. Subsequently, the scheme may be extended to remaining Status Holders. Manufacturer exporters who are also Status Holders shall be eligible to self-certify their goods as originating from India as per of Hand Book of Procedures. Status holders shall be entitled to export freely exportable items on free of cost basis for export promotion subject to an annual limit of ₹ 10 lakh or 2% of average annual export realization during preceding three licencing years whichever is higher.