Bank guarantee waiver for fully export oriented units: procedural show cause notices won't forfeit waiver; only fraud or substantive violations will. Clarifies that waiver of bank guarantees for eligible export oriented units under FTP is subject to turnover, existence and positive NFE/EO conditions, and that mere issuance of show cause notices for procedural violations does not preclude the waiver; denial is limited to cases involving fraud, collusion, willful misstatement, suppression of facts or confirmed demands for contraventions of customs, excise, foreign trade, foreign exchange or service tax laws and allied rules. Circular No.54/2004-Customs is modified accordingly and field formations are directed to publicize and implement the clarification.