Custody of bonds and bank guarantees reorganised: assessing groups process while BBG Cells safeguard originals and monitor compliance. Exclusive BBG Cells will safekeep originals after Assessing Groups process and accept Bonds and Bank Guarantees; Assessing Groups retain duplicate copies, ensure monitoring and issue demand letters or reminders, and may enter bond/BG details and debits in ICES themselves or through BBG Cells; SVB bonds and guarantees are processed by the SVB Cell, and Assessing Groups must take over and monitor previously submitted bonds and guarantees from the centralized BBG Cell.
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Provisions expressly mentioned in the judgment/order text.
Custody of bonds and bank guarantees reorganised: assessing groups process while BBG Cells safeguard originals and monitor compliance.
Exclusive BBG Cells will safekeep originals after Assessing Groups process and accept Bonds and Bank Guarantees; Assessing Groups retain duplicate copies, ensure monitoring and issue demand letters or reminders, and may enter bond/BG details and debits in ICES themselves or through BBG Cells; SVB bonds and guarantees are processed by the SVB Cell, and Assessing Groups must take over and monitor previously submitted bonds and guarantees from the centralized BBG Cell.
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