Amendment in Appendix 25A, HBP Vol.I (Appendices and Aayat Niryat Forms) regarding periodicity of Bank Guarantee (BG) to be executed with Regional Authorities in case of domestic procurement of goods against EPCG authorization.

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....bsp;                                                                                  Subject:         Amendment in Appendix 25A, HBP Vol.I (Appendices and Aayat Niryat Forms) regarding periodicity of Bank Guarantee (BG) to be executed with Regional Authorities in case of domestic procurement of goods....

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[email protected]   (Issued from F. No.01/36/218/169/AM-11/EPCG-I)   APPENDIX 25 A   BANK GUARANTEE FORMAT To, The President ofIndia Acting through the Director General of Foreign Trade   In consideration of the President of India, acting through the Director General of Foreign Trade (which expression shall be deemed to include the Joint Director General of Foreign Trade/Deputy Director General of Foreign Trade), or any other authority for the time being authorised to perform the duties of Joint Director General of Foreign Trade/Deputy Director General of Foreign Trade), Ministry of Commerce, Government of India, New Delhi (hereinafter referred to as the Government) having agreed to grant to _____....

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.... a demand from the Government stating that the amount claimed is due by way of loss or damage caused or suffered by the Government by reason of breach by the Importer/Exporter of any of the terms or conditions of the said Authorisation. Any such demand made on the Bank shall be conclusive as regards the amount due and payable by the Bank under these presents. 3. We undertake to pay to the Government any money so demanded notwithstanding any dispute or disputes raised by the Importer/Exporter in any suit or proceeding pending before any court or Tribunal relating thereto and our liability under these presents being absolute and unequivocal. 4. We,_________________(indicate the name of Bank) further agree that the guarantee herein conta....