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of <h1>Bank Guarantee Requirements for Pre-Shipment Inspection Agency Recognition by Government of India: Key Conditions and Validity Details</h1> The bank guarantee format required for recognition as a Pre-Shipment Inspection Agency (PSIA) by the Government of India. The applicant must provide a bank guarantee of INR 10,00,000 or USD 20,000 to the Director General of Foreign Trade. The bank commits to pay the government any claimed amount due to the applicant's breach of specific procedural guidelines or laws. The guarantee remains valid for four years and is enforceable until the PSIA recognition is fulfilled. The bank cannot revoke the guarantee without government consent, and any changes in the PSIA or bank's constitution do not affect the guarantee's validity.
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