Security requirement for B-17 bonds: units may execute the bond with reduced security via bank guarantee or cash. Where 100% EOUs and EPZ units cannot furnish the prescribed individual or corporate surety for the B-17 bond, they may execute the bond coupled with security equal to five per cent of the bond value, furnished as a bank guarantee, cash deposit or other government recognised mode of security.
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Provisions expressly mentioned in the judgment/order text.
Security requirement for B-17 bonds: units may execute the bond with reduced security via bank guarantee or cash.
Where 100% EOUs and EPZ units cannot furnish the prescribed individual or corporate surety for the B-17 bond, they may execute the bond coupled with security equal to five per cent of the bond value, furnished as a bank guarantee, cash deposit or other government recognised mode of security.
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