https://www.taxtmi.com/acts?id=19490 Appendix-2N sets a standard, unconditional on-demand bank guarantee securing compliance with authorisations under the Foreign Trade Policy: the Bank irrevocably undertakes to pay the Government up to the guaranteed amount on demand for loss or damage from breach of authorisation terms, remains liable notwithstanding disputes or extensions granted to the exporter/importer, and must keep the guarantee alive for prescribed minimum periods or renew automatically until departmental cancellation, with invocation allowed only by the beneficiary. en-us Tue, 14 Apr 2015 17:32:57 +0530 Wed, 13 Dec 2017 12:26:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=19490 Appendix-2N sets a standard, unconditional on-demand bank guarantee securing compliance with authorisations under the Foreign Trade Policy: the Bank irrevocably undertakes to pay the Government up to the guaranteed amount on demand for loss or damage from breach of authorisation terms, remains liable notwithstanding disputes or extensions granted to the exporter/importer, and must keep the guarantee alive for prescribed minimum periods or renew automatically until departmental cancellation, with invocation allowed only by the beneficiary. Act-Rules DGFT Tue, 14 Apr 2015 17:32:57 +0530 https://www.taxtmi.com/acts?id=19490