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of <h1>Company Executes Indemnity Bond with Government for Simplified Brand Rate Fixation Scheme Compliance and Payment Assurance</h1> An indemnity bond is executed by a company (Obliger) in favor of the Government of India, ensuring the payment of any sums due under the Simplified Brand Rate Fixation Scheme for exports. The bond requires the Obliger to comply with the scheme's obligations, allow inspections, and provide necessary documents for verification. If discrepancies are found or obligations are unmet, the government may adjust or withdraw the drawback rate and recover any excess payments. The Obliger agrees to indemnify the government against any legal costs incurred in recovering such sums. The bond remains effective until all obligations are fully satisfied.
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