https://www.taxtmi.com/acts?id=30943 The bank guarantee is an unconditional, irrevocable undertaking to pay the Government up to the prescribed sum on demand for loss or damage caused by the applicant's breach of PSIA obligations or violation of specified Handbook provisions or other law. The bank's liability is absolute and payable without demur or reference to disputes, remains enforceable for the period of PSIA recognition, and is subject to a written claim being made within the specified liability period (four years from recognition). The guarantee is continuing and not revocable without Government consent. en-us Wed, 13 Dec 2017 12:36:25 +0530 Wed, 13 Dec 2017 12:36:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=30943 The bank guarantee is an unconditional, irrevocable undertaking to pay the Government up to the prescribed sum on demand for loss or damage caused by the applicant's breach of PSIA obligations or violation of specified Handbook provisions or other law. The bank's liability is absolute and payable without demur or reference to disputes, remains enforceable for the period of PSIA recognition, and is subject to a written claim being made within the specified liability period (four years from recognition). The guarantee is continuing and not revocable without Government consent. Act-Rules DGFT Wed, 13 Dec 2017 12:36:25 +0530 https://www.taxtmi.com/acts?id=30943