Cash security requirement for project imports reduced, with remaining liability secured by bank guarantee until contract completion. Cash security for project import registrations shall be reduced to 2% of CIF value (subject to an overall cap), with the balance secured by a bank guarantee supported by an undertaking to renew until contract finalisation; government departments and public sector undertakings are exempt, and fertilizer projects liable to zero duty are to provide only a nominal cash security based on duty foregone subject to a separate cap.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cash security requirement for project imports reduced, with remaining liability secured by bank guarantee until contract completion.
Cash security for project import registrations shall be reduced to 2% of CIF value (subject to an overall cap), with the balance secured by a bank guarantee supported by an undertaking to renew until contract finalisation; government departments and public sector undertakings are exempt, and fertilizer projects liable to zero duty are to provide only a nominal cash security based on duty foregone subject to a separate cap.
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