Dear Experts,
We need to execute Bank Guarantee on one particular issue to the AC, Central Excise dept. with auto renewal clause, Where as our bankers not accepting with Auto renewal clause.
If any body has come across this type of issue, please provide me the details (BG format with Bank details).
Thanking you,
Srinivas
Bank Refuses Auto-Renewal Clause in Guarantee; Review CBEC's Excise Manual Chapter 14 for Guidance A user inquired about executing a bank guarantee with an auto-renewal clause for the Central Excise department, but their bank refused to include such a clause. One expert suggested reviewing Chapter 14 of the CBEC's Excise Manual for guidance and referenced a Delhi High Court judgment for further insight. Another expert mentioned that many banks currently offer guarantees with auto-renewal clauses and advised either escalating the issue to the bank's head branch or switching to a different bank that accommodates this requirement. (AI Summary)
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