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of <h1>Government of India Bank Guarantee Format for Importers/Exporters: Key Provisions for Compliance Under Foreign Trade Policy</h1> The format for a bank guarantee required by the Government of India for importers/exporters under the Foreign Trade Policy. The bank, at the request of the importer/exporter, agrees to pay the government a specified amount in case of non-compliance with the terms of the authorization, including export obligations. The guarantee remains in effect until all obligations are fulfilled or certified by the relevant authority. The bank's liability is absolute, and the guarantee is non-transferable. Specific provisions apply for EPCG and advance authorizations, requiring the guarantee to be maintained for specified periods.
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