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of <h1>Bank Guarantee Terms in Appendix 2N of Foreign Trade Procedure 2015-2020 for Import/Export Obligations Explained</h1> The bank guarantee format outlined in Appendix 2N of the Foreign Trade Procedure 2015-2020 involves an agreement between the Government of India and a bank, ensuring the fulfillment of obligations by an importer/exporter under a specified authorization. The bank commits to pay the government a specified amount if the importer/exporter fails to meet the terms, including export obligations. The guarantee remains valid until obligations are fulfilled or discharged by the government. It is a continuing guarantee, unaffected by changes in the parties' constitution, and cannot be revoked without government consent. Specific conditions apply for different authorizations, such as EPCG and advance authorization/DFIA.
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