Bank guarantee enforcement ensures recovery where exporters fail to meet export obligations after receiving precious metals. Conversion of exported precious metals for entitlement calculations uses a formula converting carat or declared fineness into equivalent quantities at prescribed standard fineness levels for gold, silver and platinum. Exporters may obtain metal from nominated agencies on outright purchase or loan only upon furnishing a Bank Guarantee, which the agencies shall enforce if exports are not effected in the prescribed period. Bonafide defaults may be regularised on payment of customs duty with interest, while advance licence cases follow existing handbook provisions.