In this article we have provided you with the details of important situations that are associated with the trade license. These are as follow:
Procedure of Closure
When you have defaulted in making payment then you will have to make the required payment for license fees to close your default liability. In case, if you have defaulted for one year then you are liable to pay two times of the fees as calculated from the current year schedule. In case, if you have defaulted for two year then you are liable to pay three times of the fees as calculated from the current year schedule. And if in case, if you have defaulted for three year then you are liable to pay four times of the fees as calculated from the current year schedule.
Procedure of change in trade license
Whenever you changed your name or changed your address, you have to update the same in the Land Registration Documents; the first thing that you will need to do is to visit the land registry office and submit the proves regarding your new name or new address. Then the license department will conduct a verification regarding the new changes. After the verification, the required changes will be updated in the document. Then the Land Registry will immediately send a letter to your both addresses to notify you about the change made in the details on the Land Registry records.
Procedure of correction in trade license
In case after receiving your trade license if you happen to discover any error then you will have to immediately contact your license department and amend the errors. Otherwise you may end up in many legal problems later. The errors could have happened due to your own mistake or due to the negligence on the part of the license department. Whatever may be reason you need to rectify the error. This you can go about by submitting an application in plain paper for the desired changes. After that KMC would hold an enquiry and after that enquiry a new trade license would be issued to you. If the error is from the department’s end then no re-issue fees would be charged but if the error is from your end then certain re-issue fees would be charged from you.